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2020 Hawaii Revised Statutes
Title 24. Insurance
431. Insurance Code
431:3G-108 Sanctions.
Universal Citation: HI Rev Stat § 431:3G-108 (2020)
§431:3G-108 Sanctions. Any insurer failing, without just cause, to timely file the corporate governance annual disclosure as required in this article shall be required, after notice and an opportunity for hearing, to pay a penalty of not less than $100 and not more than $500 for each day's delay, to be recovered by the commissioner and paid into the compliance resolution fund. The maximum penalty under this section shall be $50,000. 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. [L 2019, c 71, pt of §1]
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