Failure to give security for payment of benefits; penalty; injunction

If an employer fails to comply with section 392-41 the employer shall be subject to a penalty of not less than $500 or of $100 for each employee for every day during which such failure continues, whichever sum is greater, to be recovered in an action brought in the discretion of the director and the amount so collected shall be paid into the trust fund for disability benefits created by section 392-61. The director may, however, in the director's discretion, for good cause shown, remit all or any part of the penalty in excess of $500; provided that the employer in default complies with section 392-41. Furthermore, if any employer is in default under section 392-41, for a period of thirty days, the employer may be enjoined by the circuit court of the circuit in which the employer's principal place of business is located from carrying on the employer's business any place in the State so long as the default continues, such action for injunction to be prosecuted by the attorney general or any county attorney if so requested by the director.