§ 26-51-109 — Sanctions

Any insurer failing, without just cause, to timely file the ORSA
summary report as required in this chapter shall be required,
after notice and hearing, to pay a penalty of two thousand five
hundred dollars ($2,500.00) for each day's delay, to be
recovered by the commissioner. The maximum penalty under this
section is seventy-five thousand dollars ($75,000.00). 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.