§ 26-54-108 — Sanctions

Any insurer failing, without just cause, to timely file the CGAD
required by this act shall be required, after notice and
hearing, to pay a penalty of one hundred dollars ($100.00) for
each day that the CGAD is not filed, to be recovered by the
commissioner. The maximum penalty due under this section shall
be five thousand dollars ($5,000.00). 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.