{"data":{"id":"us-ut/utah-code-31a-16b-108","jurisdiction":"us-ut","citation":"Utah Code § 31A-16b-108","heading":"Penalties.","body":"(1) An insurer or insurance group that, without just cause, fails to timely file a corporate governance annual disclosure as required in this chapter shall, after notice and hearing, pay a penalty of $10,000 for each day's delay, up to $300,000.\n(2) Any penalty recovered by the commissioner under this section shall be deposited into the General Fund.\n(3) The commissioner may reduce a penalty under this section if the insurer or insurance group demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.","path":["Title 31A Insurance Code","Chapter 31A-16b Corporate Governance Annual Disclosure Act"],"source_url":"https://le.utah.gov/xcode/Title31A/Chapter16b/31A-16b-S108.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"346fe08aa0c06309a9c9a3977a3bd98b3039cedcc752c1c0f7ce99948bd6bc03","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-31a-16b-107","next":"us-ut/utah-code-31a-17-101"},"notice":"GroundRules: Original legal text. Not legal advice."}