Montana § 33-2-2109 Sanctions -- Penalties

Montana Statutes

§ 33-2-2109 — Sanctions -- Penalties

Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 2 REGULATION OF INSURANCE COMPANIES·Part 21 Corporate Governance Annual Disclosure

33-2-2109 . Sanctions -- penalties. Any insurer failing, without just cause, to timely file the CGAD as required in this part shall, after notice and hearing, pay a penalty of $100 for each day's delay to the commissioner. The penalty must be collected by the commissioner in the name of the state of Montana and deposited in the general fund. The maximum penalty under this section is $1 million. 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.

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33-2-2109 . Sanctions -- penalties. Any insurer failing, without just cause, to timely file the CGAD as required in this part shall, after notice and hearing, pay a penalty of $100 for each day's delay to the commissioner. The penalty must be collected by the commissioner in the name of the state of Montana and deposited in the general fund. The maximum penalty under this section is $1 million. 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.

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