§ 8-628. Accrual interest

   (a) In general. -- Except as provided in § 8-201.1 of this title, a contribution or reimbursement payment that is due and unpaid shall accrue interest at the rate of 1.5% per month or part of a month from the date on which it is due until the Secretary receives the contribution or payment in lieu of contributions and the interest.

(b) Application of Table F of § 8-612(d)(6). -- Notwithstanding subsection (a) of this section, except as provided in § 8-201.1 of this title, for any calendar year in which Table F is applicable under § 8-612(d)(6) of this subtitle, a contribution or reimbursement payment that is due and unpaid shall accrue interest at the rate of 0.5% per month or part of a month from the date on which it is due until the Secretary receives the contribution or payment in lieu of contributions and the interest.

HISTORY: An. Code 1957, art. 95A, § 8, 15; 1991, ch. 8, § 2; 1992, ch. 59; 2009, ch. 188; 2010, ch. 2, § 7; ch. 72, § 5.