58-4A-7. Civil penalties--Disposition of penalties collected--Civil action in lieu of criminal prosecution.
107 words·~1 min read·
/sd/title-58/chapter-58-4/58-4a-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the insurance fraud prevention unit or its designees initiate civil action against any person and that person is found by a court of competent jurisdiction to have committed a fraudulent insurance act as set forth in § 58-4A-2 , that person is subject to a civil penalty not to exceed five thousand dollars for the first violation, ten thousand dollars for the second violation, and fifteen thousand dollars for each subsequent violation. Civil penalties paid under this section shall be deposited in the insurance fraud prevention unit fund. An action under this section may be in lieu of criminal prosecution under the laws of this state.