Section 4
SEC. 4. Any person, corporation, association or partnership which shall fail to pay upon demand the amount collectible under the provisions of this Act or of any rules or regulations promulgated thereunder shall be liable for the payment of a fine of not less than five hundred pesos and to pay, in addition thereto, a surcharge of twenty-five per centum of the amount due. For failure to pay the amount due including fines and surcharges within sixty days after the same has become due and payable, the same shall be considered as sufficient cause for the cancellation of the license and the forfeiture of the corresponding bond deposit of the licensee concerned.