Section 58-5A-30 - Failure to file registration statement--Fine--Waiver. - South Dakota Statutes

58-5A-30. Failure to file registration statement--Fine--Waiver. Failure to file the registration statement, to keep the registration statement current or to file any summary of the registration statement 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 be required to 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 would constitute 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.