Section 58-4A-7 - Civil penalties--Disposition of moneys collected--Civil action in lieu of criminalprosecution--Approval of directors and attorney general required. - South Dakota Statutes

58-4A-7. Civil penalties--Disposition of moneys collected--Civil action in lieu of criminal prosecution--Approval of directors and attorney general required. If the insurance fraud prevention unit or its designees initiate civil action against any person and that person is found by a court of competent jurisdiction to have committed a fraudulent insurance act as set forth in § 58-4A-2, that person is subject to a civil penalty not to exceed five thousand dollars for the first violation, ten thousand dollars for the second violation, and fifteen thousand dollars for each subsequent violation. Civil penalties paid under this section shall be deposited in the insurance fraud prevention unit fund. An action under this section may be in lieu of criminal prosecution under the laws of this state and may not be commenced until after consultation with and written approval by the director and the attorney general.

Source: SL 1999, ch 241, § 7.