(A) The agricultural commodity dealer shall remit assessments and file with the department a report of the assessments on agricultural commodities that he received by the first day of January, April, July, and October following any calendar quarter in which the agricultural commodity dealer has received quantities of grain or cotton subject to assessments totaling fifty dollars or more. If the agricultural commodity dealer has received quantities of grain or cotton subject to assessments totaling less than fifty dollars in any calendar quarter, the assessments may be reported and remitted with the following calendar quarter’s return. All assessments shall be remitted at least once every six months.

(B) In case any person subject to this section fails to make a report and remittance when required, the department shall determine the amount of the assessment according to its best judgment and information and that amount shall be prima facie correct. The person who failed to make the report shall, within ten days after notice of the amount of the assessment is mailed to him, pay the assessment, together with a penalty of ten percent, or dispute the assessment and request a hearing to determine its amount and the penalty to be imposed. No payment shall be made until the department enters its order determining the amount of the payment. However, the payment shall be made within ten days’ notice of the order. On failure to remit payment within ten days of the receipt of notice of the order, the department may suspend the dealer’s license under the provisions of § 46-41-130.