Penalties for noncompliance
Arkansas Code § 23-60-108; Arkansas Code § 23-61-108; Arkansas Code § 23-61-905
- (a) Following notice to the submitting entity and the failure to comply during the thirty-day cure period, the Insurance Commissioner may impose a maximum penalty on a submitting entity of one thousand dollars ($1,000) per day, not to exceed thirty thousand dollars ($30,000).
- (b) The commissioner may delay, reduce, or waive any penalty.
- (c) The commissioner agrees to consider a lower maximum penalty per day than authorized, including a waiver of the penalty, for test data and data receipts due in the 2016 year, based upon the good cause of the submitting entity.