{"data":{"id":"us-sc/s.c.-code-ann.-38-13-1070","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 38-13-1070","heading":"Penalties.","body":"Any insurer who, without just cause, fails to timely file the CGAD shall, after notice and an opportunity for a hearing, pay a penalty of one thousand dollars for each day's delay, to be recovered by the director. The penalty funds recovered must be paid into the general fund of this State. The maximum penalty under this section is twenty 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.","path":["Title 38 - INSURANCE","CHAPTER 13 Examinations, Investigations, Records, and Reports","ARTICLE 9 Corporate Governance Annual Disclosure"],"source_url":"https://www.scstatehouse.gov/code/t38c013.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:11:44Z","sha256":"f8cd11254611c6d2ecb75fb92f3b78d364c383343a92c956506a5fbadb32b437","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-38-13-1060","next":"us-sc/s.c.-code-ann.-38-13-1080"},"notice":"GroundRules: Original legal text. Not legal advice."}