(2) The superintendent shall retain from the taxes collected pursuant to this article an amount sufficient to provide at all times a fund not to exceed ten thousand dollars out of which he shall pay any refunds to which taxpayers shall be entitled under this article.
(b) (1) If a company, association or person fails within the prescribed time to file any report or statement required by this article or by section two thousand one hundred eighteen of this chapter, or to make any payment due under the provisions of this article or sections three hundred thirteen, three hundred thirty-two, three hundred thirty-three, one thousand one hundred twelve, two thousand one hundred five, two thousand one hundred eighteen or four thousand four hundred seven of this chapter, the superintendent may order such company, association or person to pay to the people of this state the following penalties:
(A) not less than one hundred nor more than five hundred dollars for each and every failure to file a report or statement within the time prescribed;
(B) five percent of the principal amount of any payment due plus an additional one percent of said sum for the second and subsequent months or fractions thereof during which payment has not been made.
(2) The superintendent may, in his discretion, waive or remit all or any part of such penalties if he finds that delay was excusable.
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