An insurer or insurance group that fails to timely file a CGAD as required under this chapter or by regulation shall be required, after notice and hearing, to pay a penalty of $200 for each day's delay. The maximum penalty under this section shall be $25,000 per year.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 39 - Corporate Governance Annual Disclosure
Section 3901 - Purposes and scope of chapter
Section 3903 - Submittal of CGAD
Section 3904 - Contents of CGAD
Section 3906 - Third-party consultants
Section 3907 - Confidentiality