§ 93. Collection of premium in case of default. a. If a policyholder shall default in any payment required to be made by him to the state insurance fund after due notice, his insurance in the state fund may be cancelled and the amount due from him shall be collected by civil action brought against him in any county wherein the state insurance fund maintains an office in the name of the commissioners of the state insurance fund and the same when collected, shall be paid into the state insurance fund, and such policyholder's compliance with the provisions of this chapter requiring payments to be made to the state insurance fund shall date from the time of the payment of said money to the state insurance fund.

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b. An employer, whose policy of insurance has been cancelled by the state insurance fund for non-payment of premium and assessments or withdraws pursuant to section ninety-four of this article, is ineligible to contract for a subsequent policy of insurance with the state insurance fund while the billed premium on the cancelled policy remains uncollected. However, the state insurance fund shall have discretion to issue a new policy to such employer by consenting to a payment plan for the employer to pay off the balance on the prior policy provided that (1) any required payroll audit or self-audit has been completed at the time the new policy is issued, (2) the employer's prior payment and policy history meet the state insurance fund's underwriting standards, (3) the employer has demonstrated the ability to pay the deposit premium on the new policy and the first installment of the balance due on the prior cancelled policy prior to issuance of the new policy, and (4) the employer has demonstrated the ability to pay the overdue balance from the prior cancelled policy by installments as determined by the state insurance fund together with payments on the new policy within twelve months from the date the new policy is issued. If an employer is issued a new policy pursuant to this subdivision, such employer shall be required to make the final payment on such overdue balance within twelve months from the date the new policy is issued. If the employer defaults on payment for either the new policy or the balance due from the prior cancelled policy, the employer's new policy is subject to cancellation for non-payment of premium as provided under this chapter. If the new policy issued pursuant to this subdivision is cancelled, the employer shall be ineligible for an additional policy until all amounts due from all prior cancelled policies have been paid.

c. The state insurance fund shall not be required to write a policy of insurance for any employer which is owned or controlled or the majority interest of which is owned or controlled, directly or indirectly, by any person who directly or indirectly owns or controls or owned or controlled at the time of cancellation an employer whose former policy of insurance with the state insurance fund was cancelled for non-payment of premium and assessments or withdraws pursuant to section ninety-four of this article or who is or was at the time of cancellation the president, vice-president, secretary or treasurer of such an employer until the billed premium on the cancelled policy is paid. The state insurance fund shall have discretion to write a policy to such an employer using the same terms as applicable to writing a policy of insurance to a former policyholder that owes a balance on a prior policy as provided under subdivision b of this section.

For purposes of this subdivision, "person" shall include individuals, partnerships, corporations, and other associations.