58-5A-30. Failure to file registration statement or enterprise risk report--Penalty--Waiver. Failure to file a registration statement, enterprise risk report, or keep the registration statement current within the time specified in this chapter is a violation of this title. Any insurer failing, without just cause, to file any registration statement or amendment as required in this chapter shall pay a penalty of not less than one hundred dollars for each day's delay, but not to exceed twenty-five thousand dollars. The director may reduce or waive the penalty if the insurer demonstrates to the director that the imposition of the penalty constitutes a financial hardship to the insurer.
Source: SL 1972, ch 267, §§ 24, 36; SDCL Supp, § 58-5A-42; SL 1978, ch 359, § 2; SL 1992, ch 341, § 19; SL 2015, ch 246, § 10.
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