Section 1185 - Waiver of interest and penalty(a) The State Escheator may, for good cause, waive, in whole or in part, interest and penalties under § 1183 or § 1184 of this title, subject to the following requirements: (1) Except as provided in paragraph (2) of this subsection, interest must be no less than 20% per incident for any holder who receives a notice of examination after August 1, 2021.(2) Interest must be 1% per incident for any holder who receives a notice of examination after August 1, 2021, who completes and remits payment pursuant to a Department of Finance expedited examination process under § 1172(c) of this title.(3) For the purposes of this section, per incident means the total past-due examination liability, including any estimated liability under § 1176(a) of this title.(4) The State Escheator shall not waive interest and penalties for any examination initiated pursuant to information provided by a whistleblower, provided that the whistleblower and any of its agents and counsel have complied with the obligations set forth in the written agreement required by § 1191(a) of this title.(b) The Secretary of State may waive interest due on outstanding unpaid amounts reported through the Secretary of State's voluntary disclosure program pursuant to § 1173 of this title.Amended by Laws 2023, ch. 367,s 2, eff. 8/15/2024.Amended by Laws 2021 , ch. 59, s 22, eff. 6/30/2021.Amended by Laws 2017 , ch. 48, s 7, eff. 6/29/2017.Added by Laws 2017 , ch. 1, s 2, eff. 2/2/2017.