Any public utility that shall fail to file any annual report on the day on which it shall be due, shall be subject to a penalty of $5.00 for each day thereafter until such report is filed. The Board of Public Utility Commissioners, if satisfied that the failure to comply with this provision was excusable, may waive the whole or part of the penalty herein imposed.

L.1971, c. 127, s. 1, eff. May 6, 1971.