(1) Any insurer which fails, without just cause, to file any registration statement
as required by section 44-2132 may be required by the director, after notice and hearing, to pay an administrative
penalty of one hundred dollars for each day's delay not to exceed an aggregate penalty
of ten thousand dollars. The director may reduce the penalty if the insurer demonstrates to the director that
the imposition of the penalty would constitute a financial hardship to the insurer.
(2) Any insurer which fails to notify the director of any transaction, dividend, or
distribution as required by sections 44-2132 to 44-2134 may be required by the director, after notice and hearing, to pay an administrative
penalty of not more than two thousand five hundred dollars per violation.
(3) Any violation of sections 44-2132 to 44-2134 shall be an unfair trade practice in the business of insurance subject to the Unfair
Insurance Trade Practices Act in addition to any other remedies and penalties available
under the laws of this state.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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