Payment of assessment computed by Association--Penalty and interest

Any person charged under this chapter with the obligation of filing a return who fails to do so shall, within ten days after notice of the amount of tax fixed and computed by the officer pursuant to § 40-31-14 is mailed to that person, pay the tax, together with a penalty of ten percent on the amount of the tax. In addition to the penalty, if payment is not made within ten days, interest at the Category D rate of interest as established in § 54-3-16 calculated from the date of mailing the notice shall be added to the amount of tax. Source: SL 1951, ch 5 , § 10; SL 1957, ch 5 , § 4; SDC Supp 1960, § 4.2210; SL 1964, ch 4 , § 3; SL 1983, ch 28 , § 52; SL 1984, ch 319 , § 26.