Section 4-507 - Effect of failure to submit CGAD; penalties(a) Subject to § 2-210 of this article, an insurer that fails to timely submit a CGAD to the Commissioner as required by this subtitle and without just cause is subject to a penalty of $200 for each day the violation continues, up to a maximum of $25,000.(b) The Commissioner may reduce a penalty imposed on an insurer under subsection (a) of this section if the insurer demonstrates to the Commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.(c) This section does not limit the authority of the Commissioner to take any other action authorized by this article.Added by 2019 Md. Laws, Ch. 105,Sec. 1, eff. 7/1/2019.