Section 33-65-8 - Failure to file corporate governance annual disclosures; penalty

Any insurer failing, without just cause, to timely file the corporate governance annual disclosure as required in this chapter shall be required, after notice and hearing, to pay a penalty of $100.00 for each day's delay, to be recovered by the Commissioner, and the penalty so recovered shall be paid into the general fund of the state treasury. The maximum penalty under this Code section is $10,000.00. 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.Added by 2019 Ga. Laws 315,§ 1, eff. 1/1/2020.