Sec. 21.14.100. Penalty for violation.
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Sec. 21.14.100. Penalty for violation.
(a)An insurer shall pay to the division $100 for each day the insurer fails to file a report, and $1,000 for each day the insurer fails to file a plan or revised plan in conformance with the requirements of this chapter.
(b)If a report, plan, or revised plan has not been filed in conformance with the requirements of this chapter, the director may, as provided
(1)under AS 21.09.150 , AS 21.84.535 , AS 21.86.190 , or AS 21.87.110 , as applicable to a particular insurer, suspend the authority of an insurer to enter into new obligations or issue a new or renewal policy of insurance in this state; or
(2)under AS 21.34.070 , declare a surplus lines insurer ineligible to transact business in this state.