Final Settlements and Payments by Tax Collecting Officials

# (a)

# (1)

On or before November 1 in each year, all tax collectors, elected assistant tax collectors, revenue commissioners, license commissioners, and judges of probate charged with collecting ad valorem taxes on motor vehicle tags shall make final settlement, under oath, with the Comptroller of all matters pertaining to the respective office’s collection of ad valorem taxes on motor vehicle tags.

# (2)

Failure of any official to make the settlement required by this subsection by November 10 of each year shall forfeit ten dollars ($10) per day which shall be deducted from the amount of commission or other public compensation due and payable to the official on the settlement respectively. The Comptroller, the county treasurer, or the custodian of the county funds shall withhold all commissions or other public compensation in cases where settlements are not made by December 10 of each year.

# (3)

Final determinations shall be made in accordance with rules adopted by the state Comptroller regarding the format of the final settlement, the time frame to be covered by the final settlement, and the date when final settlement will be made with the state Comptroller’s Office and approved by the Chief Examiner of Public Accounts.

# (b)

On or before July 1 of each year, each tax collecting official, under oath, shall make final settlement with the Comptroller and shall pay to the State Treasurer the balance which may be found due from charges from the abstract of taxes pursuant to Section 40-7-35. Final settlement shall be made in accordance with rules adopted by the Comptroller.

# (c)

Unless otherwise excepted by the Comptroller, a tax collecting official who fails to make settlement as provided in this section by the tenth day of July of each year shall be assessed a fine of 10 dollars ($10) per day until the final settlement is made in accordance with this section. The fine shall be assessed in the official’s personal capacity.