04. Interest and penalty for failure to act in timely manner. (a) A holder that fails to report, pay, or deliver property within the time prescribed by this chapter shall pay to the Administrator interest at 10% per year on the property or value of the property from the date the property should have been reported, paid, or delivered to the Administrator until the date reported, paid, or delivered. (b) Except as otherwise provided in § 41-162.05 or § 41-162.06, the Administrator may require a holder that fails to report, pay, or deliver property within the time prescribed by this chapter to pay to the Administrator, in addition to interest included under subsection (a) of this section, a civil penalty of $200 for each day the duty is not performed, up to a cumulative maximum amount of $5,000. (Nov. 13, 2021, D.C. Law 24-45, § 7075, 68 DCR 010163.)
District of Columbia Legal Code