§691.39. Sanctions
Any insurer failing, without just cause, to timely file the ORSA summary report as
required by this Subpart shall be required, after notice and an opportunity to be heard, to pay
a penalty of one hundred dollars for each day's delay, to be recovered by the commissioner
and the penalty so recovered shall be deposited upon receipt in the state treasury. The
maximum penalty under this Section shall be ten thousand dollars. The commissioner may
reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the
penalty would constitute a financial hardship to the insurer.
Acts 2015, No. 196, §1, eff. Jan. 1, 2016.