5, pay a civil penalty of one hundred dollars ($100) for each day of noncompliance, not to exceed ten thousand dollars ($10,000).(b) The commissioner may reduce a penalty imposed under subsection (a) if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.(c) A civil penalty collected under this section shall be deposited in the department of insurance fund established by IC 27-1-3-28.As added by P.L.129-2014, SEC.8.
Indiana Legal Code