reglab/statecodes huggingface dataset:
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 951m - Nonresident producers—License

(1) The Commissioner may grant a license as nonresident producer to any person who comes from a state or jurisdiction of the United States that has adopted the provisions of the Model Act for Licensing Producers approved by the National Association of Insurance Commissioners and that grants to a resident producer in Puerto Rico a similar privilege, provided the person:
(a) Holds a license as producer duly issued by the Insurance Commissioner of the state or jurisdiction from whence he/she comes, subject to having that state or jurisdiction issue a certificate of good standing which would also indicate that the applicant does not have any matter pending in that state or jurisdiction that could result in the suspension or revocation of the license; and
(b) submits or makes available to the Commissioner a copy of the license application he/she presented in the state or jurisdiction from whence he/she comes, and
(c) fills out and submits the application for the license as nonresident producer in the form prescribed by the Commissioner and pays the corresponding fees pursuant to what the Code provides.
(2) The Commissioner may grant a license as nonresident producer to a juridical person who meets the following requirements:
(a) To be organized under the laws of a state or jurisdiction of the United States and to hold a license as producer according to the provisions of subsection (1) of this section.
(b) To provide evidence about being duly registered and authorized according to the laws of Puerto Rico to engage in business in Puerto Rico.
(c) To designate the person residing in Puerto Rico to be in charge of those matters that involve insurance transactions in Puerto Rico.
(3) The nonresident producer shall be subject to the same obligations and limitations and to the supervision of the Commissioner as though residing or domiciled in Puerto Rico and to keeping the usual and customary books corresponding to insurance transactions in Puerto Rico.
(4) No license as nonresident producer shall be issued to any person who has a direct or indirect economic or financial interest in a general agent or resident producer or in the business of a solicitor authorized as resident in Puerto Rico.
(5) The Commissioner shall issue a license as nonresident producer to a person who comes from a jurisdiction other than the United States provided he/she complies with the provisions of this section and provides evidence to the satisfaction of the Commissioner that under the laws of said jurisdiction a similar privilege is granted to the residents of Puerto Rico.
(6) No license as nonresident producer shall be issued to any person unless he/she presents the proxy prescribed in § 951o of this title.
History —Ins. Code, added as § 9.260 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 951n - Nonresident producers—Limitations

(1) A nonresident producer shall directly or indirectly solicit insurance in Puerto Rico or be able to inspect risks in Puerto Rico and, pursuant to his/her license, shall place only insurance that has been directly procured from the insured outside of Puerto Rico upon a subject of insurance located or to be executed in Puerto Rico.
(2) The nonresident producer may only place insurance upon subjects located or to be executed in Puerto Rico through a resident producer, appointed by the insurer and with an insurer authorized to transact insurance in Puerto Rico. The insurance so transacted shall be deemed, for all purposes, as having been transacted in Puerto Rico.
(3) The nonresident producer shall not countersign any policy to cover an insurance object placed, residing or to be executed in Puerto Rico. The countersignature shall be made by a resident producer appointed by the insurer for such a purpose, who shall enter in a register all details of the insurance so transacted, including the name of the nonresident producer.
History —Ins. Code, added as § 9.270 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 951o - Nonresident producer—Process against

(1) A nonresident producer, before his license is issued, shall irrevocably appoint the Commissioner as his/her proxy to receive service of legal process issued against the licensee upon causes of action arising in Puerto Rico out of transactions under the license. Service upon the Commissioner as proxy shall constitute effective legal service upon the licensee.
(2) Duplicate copies of said legal process shall be served to the Commissioner by persons competent to serve a summons. At the time of service the plaintiff shall pay to the Commissioner ten dollars ($10) to cover the costs for transacting the service. Upon receipt of the service the Commissioner shall forthwith remit one of the copies of the process by registered mail with return receipt requested to the defendant nonresident producer at his/her last address as it appears in the files of the office of the Commissioner. The Commissioner shall keep a register of the day and hour of service of all such processes.
(3) No other action shall be taken against the defendant nonresident producer nor shall he/she be required to appear or plead until forty-five (45) days have elapsed from the date of the service to the Commissioner.
History —Ins. Code, added as § 9.280 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 951p - Adjuster—Requirements

A license as adjuster shall not be issued or allowed to exist to any person who does not meet the following requirements:
(1) To be of legal age and have completed high school or its equivalent.
(2) To be and to have been a bona fide resident of Puerto Rico for at least one (1) year immediately prior to the date on which he/she applies for the license.
(3) To be trustworthy and competent.
(4) To pass any examination required under § 950a of this title.
(5) To have posted by bond required by § 952a of this title, if for a license as public adjuster.
(6) To satisfactorily demonstrate that he/she has met those reasonable continuing education requirements adopted by the Commissioner through rule or regulation.
(7) Shall not be a stockholder, member, partner, director, official, representative or employee of any producer authorized to conduct business or who is conducting business in Puerto Rico nor to have an economic or financial interest or a contractual relationship in the field of insurance with a producer authorized to conduct business or who is conducting business in Puerto Rico.
(8) Shall not be a stockholder, member, partner, director, official, representative or employee of any other adjuster authorized to conduct business or who is conducting business in Puerto Rico nor to have an economic or financial interest or a contractual relationship in the field of insurance with an adjuster authorized to conduct business or who is conducting business in Puerto Rico.
History —Ins. Code, added as § 9.290 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 952 - Adjuster—Special rights to adjust

(1) A producer contracted by the insurer to act as his/her authorized representative may, on behalf of the insurer and by virtue of the authority which pursuant to the contract said insurer has conferred, act, from time to time, as adjuster and investigate, inform and liquidate claims without the need of having a license as adjuster; Provided, That he/she may not act as adjuster, nor investigate, inform or liquidate claims in relation to any policy, contract or insurance cover transacted or contracted because of his/her performance as producer.
(2) An authorized producer may assist persons insured through him/her with the transactions leading to the liquidation and adjustment of losses under said insurance without being authorized as an adjuster.
(3) No license from Puerto Rico shall be required of a nonresident independent adjuster for the adjustment in Puerto Rico of a single loss or of losses arising from a catastrophe common to all such losses.
(4) The Commissioner may grant a special emergency permit as adjuster to any person qualified for adjusting losses arising from a general catastrophe after the presentation of the application for the special permit in the form prescribed for doing so by the Commissioner. Such a permit shall be subject to compliance with the requirements and conditions established by the Commissioner and to the payment of the corresponding fees.
History —Ins. Code, added as § 9.310 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 952a - Adjuster—Bond

(1) Prior to the granting of a license as public adjuster, the applicant shall post with the Commissioner and thereafter maintain in effect for the duration of the license, a bond in favor of the Commonwealth of Puerto Rico, issued by a surety insurer authorized by the Commissioner, for an amount of not less than ten thousand dollars ($10,000).
(2) The bond shall be continuous in its form and not be subject to cancellation unless a written notice is presented sixty (60) days prior to its cancellation. Every public adjuster bond shall be effective by the date of effectiveness of the license. If more than once person appears in the license as adjuster issued to any partnership or corporation, the bond must be increase in the sum required by the Commissioner, but the same shall not be less than ten thousand dollars ($10,000) multiplied by the number of persons designated in the license. The bond shall be subject to having the adjuster present to the claimant, whose claim he/she is transacting, due account of money or of any payment received in relation thereto. The bond shall also cover any claim arising from professional negligence.
(3) Any natural or juridical person authorized by the Commissioner as emergency public adjuster must post, together with the application for the special permit, and thereafter maintain while the permit is in effect, a bond in favor of the Commonwealth of Puerto Rico subscribed by an authorized surety insurer, for the amount determined by the Commissioner through rule, regulation or administrative order or determination.
(4) In lieu of the bond, the emergency public adjuster may present a professional liability policy issued by an authorized insurer, which shall be for an amount equal to or greater than the amount of the bond and the same shall be subject to the approval of the Commissioner.
History —Ins. Code, added as § 9.320 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 952b - Adjuster—Report of losses

(1) Any authorized independent adjuster, at the time of taking charge of the adjustment of the losses caused by a fire, storm, hurricane or earthquake, shall render to the Commissioner a preliminary report of the estimated loss and within five (5) working days after the amount of the loss has been determined, a final report of the amount to be paid for the loss as agreed upon between the parties. The Commissioner may, at his/her discretion, suspend through rule or regulations the requirement of this subsection.
(2) The Commissioner may, from time to time, through rule, regulation or administrative order or determination, require similar reports as to other kinds or classifications of losses as to which he/she deems such reports to be necessary or convenient.
History —Ins. Code, added as § 9.330 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 952c - Place of business

(1) Every producer, other than a producer authorized only as to life or disability insurance, as well as every authorized adjuster or consultant shall have in Puerto Rico a place of business accessible to the public. The place of business shall be one wherein the licensee mainly conducts business pursuant to his/her license. The address of the place of business shall appear on the license and its holder shall promptly notify the Commissioner of any change.
(2) Nothing in this section shall be deemed to prohibit the licensee from maintaining his/her place of business in his/her place of residence in Puerto Rico, but such a place must be accessible to the public and comply with all other requirements contained in the above subsection (1).
History —Ins. Code, added as § 9.340 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 952d - Display of license

Any person who holds a license issued by the Commissioner in any capacity shall be bound to display the same as evidence of his/her authority to engage in the insurance business in Puerto Rico.
Should the Commissioner issue a certificate as evidence of the license granted, the person thus authorized shall be bound to exhibit said certificate in a visible place of his/her place of business. Likewise, should the Commissioner issue an identification card as evidence of the license granted, the person thus authorized shall carry the same on his/her person while conducting insurance business and show the same every time he/she is asked to do so.
Any person to whom the Commissioner issues a license shall be bound to protect and use the same exclusively for the purposes related to the business for which he/she is authorized. Should said license be lost, replacing the same shall entail the payment of the fees established by the Commissioner.
History —Ins. Code, added as § 9.350 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 952e - Identification

Every holder of a license issued pursuant to this chapter shall identify him/herself exclusively according to the license he/she has been issued. Thus, when publishing any notice or printed material, or when advertising through any means of communication, he/she shall do so under the name which appears on the license. Provided, That no holder of an individual license may identify him/herself under a trade name. Only those juridical persons that after organizing themselves as such pursuant to the laws of Puerto Rico have complied with the provisions of § 950g of this title and hold a valid license issued by the Commissioner to engage in the insurance business in such a capacity may be able to identify themselves as a corporation or partnership.
History —Ins. Code, added as § 9.351 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 952f - Required books and documents

(1) Every insurance producer, general agent, proxy, adjuster or consultant shall keep, at the place of business indicated in his/her license, the usual and customary books corresponding to the transactions effected pursuant to his/her license, together with the additional books the Commissioner may require through rule, regulation or administrative order or determination, and shall also conserve the documents related thereto.
(2) All books and documents related to any particular transaction shall be available and accessible to the inspection of the Commissioner at any business time during the five (5) years immediately following the date of completion of such a transaction, unless a shorter period is granted, through rule, regulation or administrative order or determination of the Commissioner, for a certain case in particular.
(3) As regards life or disability insurance, any insurance producer, general agent, adjuster or consultant shall be bound to comply with the requirements related to the books and documents established by the Commissioner through rule or regulation.
History —Ins. Code, added as § 9.360 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 952g - Reports to the Commissioner

Every producer, general agent, solicitor, adjuster, consultant or proxy shall submit, at the request of the Commissioner, a report about his/her insurance business or about any matter or loss he/she has transacted, or in which he/she has participated or about which he/she has information.
Said report shall be submitted in the form provided by the Commissioner for doing so and shall contain in an exact and precise manner all the information pertinent to the period provided by the Commissioner. Noncompliance with what is herein provided shall entail the imposition of sanctions, including non-renewal, suspension or revocation of the license.
History —Ins. Code, added as § 9.370 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 953 - Transfer of business; committees

(1) When an insurance policy originally subscribed through a particular producer whose premium has been billed and paid for in whole or in part is cancelled and substituted for one or more policies with the same coverage or with additional coverage for the same insured through another producer, whether or not subscribed with the same insurer and whether or not subscribed for the same term, the new producer shall be liable to the originating producer for the amount of any commission unearned by the latter for the term comprised between the date of cancellation and the date on which the next anniversary of the original policy begins, if the partial payment corresponding to the policy year on which the cancellation occurs has been paid.
To the effects of this section, the phrase “unearned commission” means the commission that has been advanced or paid or credited to the account of a producer on account of the premium that has been paid to and accepted by the insurer, but which the producer is bound to refund due to the cancellation of the insurance for which the premium was paid.
(2) It is essential that in the transfer of businesses the new producer acts in good faith. To those effects it shall be understood that the new producer acted in good faith if he/she immediately notifies the originating producer by certified mail with return receipt requested that the insured has appointed him/her as his/her producer. In the absence of such a notice it shall be understood that the appointment of the originating producer remains in effect.
(3) Both the originating producer and the new producer shall provide evidence available for the inspection of the Commissioner attending that he/she has complied with the requirements of this section.
(4) This section shall not apply to life and disability insurance.
History —Ins. Code, added as § 9.400 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 953a - Assignment or sale of policies

In the case of a transaction for the assignment or sale of an insurance policies portfolio, the new producer shall immediately notify each insured through a written communication to the last address appearing in the record about the transaction executed, granting the insured a term of not less than ten (10) days to choose to appoint him/her as his/her producer or appoint another producer.
On his/her part, the originating producer shall promptly notify the Commissioner about the transaction executed and submit a copy of the assignment or sales contract, including all its riders. The information herein required shall be kept confidential and not be available for public inspection.
History —Ins. Code, added as § 9.401 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 953b - Expiration and renewal of licenses

(1) Any general agent, producer, authorized representative, proxy, solicitor, consultant, and adjuster license issued by the Commissioner pursuant to the provisions of this chapter, with the exception of temporary licenses, shall continue in effect until their expiration, suspension, revocation, or cancellation. The foregoing shall be subject to the payment of the corresponding annual fees set forth in § 701 of this title to the Commissioner before midnight of the day on which the two (2)-year term, counted from the date of effectiveness of the license, expires. Said payment shall be submitted along with the written application provided by the Commissioner for renewing said license. If the Commissioner does not receive a duly filled out application for the renewal of a license, along with the payment of the corresponding fees, before the expiration date thereof, said license shall be deemed to have expired on that date.
(2) The application for the renewal of a license as solicitor shall be submitted by the producer by whom he/she was appointed.
(3) The Commissioner may consider as an application for a new license any petition for license renewal or the payment of a fee received after the date of expiration of a previously existing license.
(4) The person who possesses a license that has expired or who has control over the same shall immediately surrender the same to the Commissioner for its proper cancellation.
History —Ins. Code, added as § 9.420 on Jan. 19, 2006, No. 10, § 8; Dec. 28, 2010, No. 220, § 10.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 953c - Cancellation of license as producer

The license of a producer shall be cancelled through a written petition submitted to the Commissioner by the producer or in the case of a producer contracted as authorized representative, by the latter or by the insurer who subscribed such as contract. If the petition is submitted by the insurer, it shall set forth the reasons for said cancellation and must be accompanied by evidence attesting that the insurer has mailed a notice of said petition to the producer. Should the Commissioner consider that the reasons set forth by the insurer show that the producer does not meet the requirements of § 950i of this title, the Commissioner shall notify the producer about the cancellation of his/her license at least fifteen (15) days before the effective date of the cancellation, subject to the right of the producer to be heard.
History —Ins. Code, added as § 9.430 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 953d - Temporary license—Issuance

(1) The Commissioner may issue temporary licenses as producer in the following cases:
(a) To the surviving spouse or next of kin or the administrator or executor or to an employee of the administrator or executor of the deceased authorized producer.
(b) To the spouse, next of kin, employee or legal guardian of an authorized producer who has become disabled due to illness, injury or insanity or because of reasonably required temporary absence from Puerto Rico or for being in active full-time military service.
(c) To the surviving member or employee of a partnership or the surviving official or employee of a corporation authorized as producer, upon the death or disability of the person designated in the license to exercise the powers thereof.
(d) An applicant for the license as producer while waiting to complete the corresponding examination satisfactorily.
(e) In any other case whereby the Commissioner deems that the public interest shall be better served by the issue of such a license.
(2) In order to be eligible for a temporary license, a person shall qualify as if for a regular license, except as to the experience, education, and passing the examination. However, applicants shall show that they have a representation contract with an insurer authorized to do business in Puerto Rico, so that they may be exempted from submitting proof of financial liability as provided by § 922 of this title.
(3) Any fee paid to the Commissioner for issuing a temporary license shall be credited to the fees required for issuing a permanent license, should the same be issued to replace the temporary license before it expires.
History —Ins. Code, added as § 9.440 on Jan. 19, 2006, No. 10, § 8; Aug. 2, 2006, No. 143, § 1.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 953e - Temporary license—Duration, limitations

(1) A temporary license shall expire within one hundred and eighty (180) days following its date of issue or upon receipt of notice of not having approved the examination after which such a license would have been issued, whichever occurs first, except that the license holder is unable, due to reasonable causes, to take the examination within said one hundred and eighty (180) day term, the temporary license shall continue in effect, upon written request of the license holder. Before the expiration date of the one hundred and eighty (180) day term and upon presentation of satisfactory proof of such causes before the Commissioner, until having reasonable opportunity for taking the examination and obtaining the results of the same. The Commissioner may, for just cause, extend for reasonable additional periods any license thus issued because of the death or disability of the agent or broker.
(2) Not more than one temporary license shall be issued to any person during the same twelve (12) month period, as of the date of issue of the temporary license, and the Commissioner may refuse to grant a new license to any person who had thus been previously authorized.
(3) As to those persons who were authorized as authorized representatives due to the death, disability, or absence of an agent, a temporary license shall be required for each insurer to be represented and the insurers shall be limited to those represented by the predecessor agent at the time of the death or disability, or at the beginning of the absence, and no license shall be issued to said holder of a temporary license as to any additional insurer during the existence of a temporary license.
(4) The holder of a temporary license shall have all the rights and privileges of a holder of a permanent license of the same class, provided, that the holder of a temporary license shall not be entitled to receive or be able to receive any commission or compensation whatsoever on account of a new controlled business subscribed by him/her unless he/she qualifies for receiving an equal permanent license before the expiration date of the temporary license.
History —Ins. Code, added as § 9.450 on Jan. 19, 2006, No. 10, § 8; Aug. 2, 2006, No. 143, § 2.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 953g - License—Procedure for suspending, revoking or denying

(1) The Commissioner shall revoke or refuse to renew a license immediately and without hearing upon conviction of the licensee under final judgment of a felony or a crime involving moral turpitude or of a violation of this Code.
(2) For causes other than those stated in subsection (1) above, including those set forth in § 953f of this title, the Commissioner shall only suspend, revoke or refuse to renew a license:
(a) Through an order given to the licensee at least fifteen (15) days prior to the effective date of said order, subject to the right of the licensee to be heard and while the hearing is held to those effects, the license shall be suspended, or
(b) through an order given to the licensee after the hearing has been held, effective as of not less than ten (10) days after the order has been given.
History —Ins. Code, added as § 9.470 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 953h - License—Reinstatement

The Commissioner may, at his/her discretion and after a petition to that effect, reinstate any license that has been revoked through a final and firm resolution or administrative order. Any person interested in petitioning for the reinstatement of a license that had been revoked must submit evidence showing that the reasons for which the same was revoked have been corrected or have ceased to exist, as well as evidence that attests to its reinstatement. If one of the reasons for revoking the license was that the person was declared to be untrustworthy for the insurance business, the latter, as part of his/her petition for reinstatement shall be bound to demonstrate his/her trustworthiness taking into account all the circumstances under which the declaration of untrustworthiness was issued.
The Commissioner, after evaluating the petition for reinstatement submitted, may, as a requirement for reinstating the revoked license, impose one or more of the following conditions:
(1) To have continuing education courses accredited, such as those previously approved by the Commissioner.
(2) To take and pass an examination for the kind or kinds of insurance the person is interested in transacting.
(3) That the scope of the license be limited.
(4) That the effective term of the license be limited.
(5) Any other condition that may be established by the Commissioner through an order.
The determination of the Commissioner regarding the petition for reinstatement shall be deemed as a final adjudication of the petition.
History —Ins. Code, added as § 9.471 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 9A - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant (§§ 949 — 953i) › § 953i - Additional penalties for violations

(1) Beside[s] the denial, revocation or suspension of the license or in lieu of these, any of the following sanctions may be imposed on any licensee who violates any of the provisions of this Code:
(a) Denial of the license in any capacity authorized pursuant to this Code for a term not to exceed five (5) years.
(b) Administrative fine not to exceed five thousand dollars ($5,000) for each fault; Provided, That the total amount of the fines imposed for different faults shall not exceed fifty thousand dollars ($50,000).
(c) Upon conviction of said violation through final judgment of a court, with a fine of not less than one thousand dollars ($1,000) nor of more than fifty thousand dollars ($50,000).
(2) Any of said penalties may be imposed as substitute to or jointly with any other provided by law.
History —Ins. Code, added as § 9.480 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1001 - Representation of unauthorized insurers prohibited

(1) No person shall in any manner:
(a) Represent or assist any insurer not then duly authorized to transact insurance in Puerto Rico, in the procuring, placing, or maintenance of any insurance coverage upon or with relation to any subject of insurance resident, located, or to be performed in Puerto Rico.
(b) Represent or assist any person in the procuring of insurance in any such unauthorized insurer upon or with relation to any such subject of insurance.
(c) Inspect or examine any risk or investigate or adjust any loss, other than an ocean marine or aviation risk or loss, or collect or receive any premium, on behalf of any such insurer or person.
(2) Any person transacting within Puerto Rico directly or indirectly any insurance in behalf of any such unauthorized insurer shall be personally liable to the insured for the performance of any contract between the insured and the insurer resulting from such transaction.
(3) Each violation of this section shall constitute a misdemeanor.
(4) The Commissioner shall assist and cooperate with the Secretary of the Treasury in the enforcement of laws relative to the nondeductibility for income tax purposes of sums paid for or on account of insurance placed in an unauthorized insurer.
(5) This section shall not apply as to insurance placed or procured in accordance with § 412 of this title, to surplus line insurance lawfully procured pursuant to this chapter, to transactions exempt under § 303(2) of this title, or to any transaction with respect to an insurance coverage on a subject of insurance not resident, located, or expressly to be performed in Puerto Rico at time of issuance and written and delivered in a state or country in which the insurer was then authorized to transact insurance.
History —Ins. Code § 10.010.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1002 - Access to courts denied

(1) An unauthorized insurer shall not maintain an action in Puerto Rico with respect to any insurance coverage which at time of issuance was to cover any subject resident, located, or to be performed in Puerto Rico, but such insurer may defend an action as provided in §§ 1005 and 1006 of this title.
(2) Subsection (5) of § 1001 of this title shall likewise apply to this section.
(3) This section shall not apply to action brought with respect to an insurer’s investments or other transactions not specified in subsection (1), or to surplus line coverages.
History —Ins. Code § 10.020.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1003 - Validity of contracts illegally effectuated

An insurance contract effectuated by an unauthorized insurer in violation of this title shall be voidable except at the instance of the insurer.
History —Ins. Code § 10.030.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1004 - Advertising prohibited

(1) No publication published in Puerto Rico, or radio or television broadcaster, or any other agency, device, or means for the dissemination of information operated or located in Puerto Rico, shall publish, broadcast, or otherwise disseminate within Puerto Rico advertisements for or on behalf of any insurer not then authorized to transact insurance in Puerto Rico.
(2) This section shall not apply as to publications published or advertising or information media prepared or manufactured in Puerto Rico for circulation or use exclusively in other states or countries.
History —Ins. Code § 10.040.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1005 - Service of process on unauthorized insurers

(1) Delivery, effectuation, or solicitation of any insurance contract, by mail or otherwise, within Puerto Rico by an unauthorized insurer, or the performance within Puerto Rico of any other service or transaction connected with such insurance by or on behalf of such insurer, shall be deemed to constitute an appointment by such insurer of the Commissioner as its attorney-in-fact upon whom may be served all lawful process issued within Puerto Rico in any action or proceeding against such insurer arising out of any such contract or transaction, or in any action or proceeding instituted to obtain the annulment of said contract.
(2) All such process shall be served as provided by, and otherwise be subject to the provisions of § 328 of this title. In addition to such service upon the Commissioner, notice of such service and a copy of such process within ten days thereafter shall be sent by plaintiff’s attorney to defendant insurer at its last known principal place of business by registered mail. Defendant insurer’s receipt, or registry receipt as to such mailing issued by the post office where mailed, and the affidavit of plaintiff’s attorney showing compliance with this subsection shall be filed in the court wherein such action is pending on or before the date the defendant insurer is required to appear, or within such further time as the court may allow. No judgment by default against such insurer may be taken under this section prior to expiration of thirty days after date of filing of such affidavit of compliance. Service of process upon such an insurer in accordance with this section shall be as valid and effective as if served upon a defendant personally present in Puerto Rico.
(3) Means provided in this section for service of process upon such an insurer shall not be deemed to prevent service of process upon such insurer by any other lawful means.
(4) An insurer which has been so served with process, subject to § 1006 of this title, shall have the right to appear in and defend such action and employ attorneys and other persons in Puerto Rico to assist in its defense thereto or settlement thereof.
(5) This section shall not apply as to surplus line insurance lawfully procured from unauthorized insurers as provided in this chapter.
History —Ins. Code § 10.050.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1006 - Defense of action by unauthorized insurer

(1) Before an unauthorized insurer shall file or cause to be filed any pleading in any proceeding instituted against it under § 1005 of this title, the insurer shall either:
(a) Deposit with the court in which the proceeding is pending cash or securities or file with the court a bond with good and sufficient sureties, to be approved by the court, in an amount fixed by the court as sufficient to secure the payment of any final judgment which may be rendered in such proceedings, or
(b) procure a certificate of authority to transact insurance in Puerto Rico.
(2) The court in any proceeding in which service is made as provided in § 1005 of this title, in its discretion may order such postponement as may be necessary to afford the defendant reasonable opportunity to comply with subsection (1) of this section and to defend such proceeding.
(3) Nothing in this section shall be construed to prevent an insurer from filing a motion to quash a writ or to set aside service thereof on the ground that the insurer has not done any of the acts enumerated in subsection (1) of § 1005 of this title.
(4) In any such action against an unauthorized insurer, if the insurer has failed for thirty days after demand prior to the commencement of the action to make payment in accordance with the terms of the contract of insurance, and it appears to the court that such refusal was vexatious and without reasonable cause, the court may allow to the plaintiff a reasonable attorney fee and include such fee in any judgment that may be rendered in such action. Such fee shall not exceed fifty percent (50%) of the amount which the court finds the plaintiff is entitled to recover against the insurer, but in no event less than one hundred dollars. Failure of an insurer to defend any such action shall be deemed prima facie evidence that its failure to make payment was vexatious and without reasonable cause.
(5) This section shall not apply as to any insurance contract lawfully issued by an unauthorized insurer as a surplus line coverage pursuant to this chapter.
History —Ins. Code § 10.060.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1007 - Surplus line insurance

Any portion or all of an insurance coverage which cannot be procured from authorized insurers, which coverage is hereinafter designated as “surplus line”, may be procured from unauthorized insurers if:
(1) The insurance cannot be procured from authorized insurers, or has been procured to the full extent such insurers are willing to insure; Provided, That in the case of residential condominiums of fifteen (15) meters or more, whether or not under the horizontal property regime, the insurance cannot be obtained from at least two (2) authorized insurers; and
(2) such insurance is procured through a licensed surplus line producer, hereinafter in this chapter referred to as the “producer”; and
(3) insurance in an unauthorized insurer is not sought or required in order to secure advantages either as to premium rate or terms of the insurance contract; Provided, That this subsection shall not apply to insurance for condominiums under the horizontal property regime[, and]
(4) the insurance is procured from unauthorized insurers eligible according to § 1007a of this title.
Subsection (1) of this section does not apply if the insurance coverage offered by an authorized insurer to cover the risk of medical-hospital professional malpractice does not constitute the minimum coverage needed to acquire a surplus line insurance in the surplus line market, in which case, the surplus line producer could reject the primary coverage offered by the authorized insurer and resort to the surplus line insurance market to obtain the coverage needed.
History —Ins. Code, § 10.070; Aug. 30, 1961, No. 7, p. 341, §§ 1, 2; Mar. 4, 2002, No. 47, § 1; Dec. 19, 2002, No. 284, § 2.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1007b - Withdrawal of eligibility of unauthorized insurer

(1) The Commissioner may, after a hearing, notice whereof shall be served on all surplus line brokers, withdraw the eligibility of an unauthorized insurer appearing on the list of surplus line eligible insurers upon determining that the insurer is insolvent, or that his financial situation is poor, or that he is no longer eligible under the conditions established in § 1007a of this title.
(2) If the Commissioner shall determine, after a hearing, notice whereof shall be served on all licensed surplus line brokers, that an insurer who is eligible at the time as a surplus line insurer has deliberately violated any provision of this title or of any rule or legal regulation pursuant to this title, or a pertinent order of the Commissioner, or does not satisfy with reasonable promptness losses and just claims in Puerto Rico or elsewhere, he may withdraw the eligibility of the insurer to insure surplus line risks in Puerto Rico.
(3) The Commissioner shall promptly serve notice of such withdrawal of eligibility by mail on each such surplus line broker to its latest address registered at the Commissioner’s Office.
History —Ins. Code, added as § 10.172 on Aug. 30, 1961, No. 7, p. 341, § 3; Jan. 19, 2006, No. 10, § 9, eff. 120 days after Jan. 19, 2006.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1008 - Producer’s affidavit and report

At the time of procuring any surplus line insurance, the producer shall execute and file with the Commissioner his report thereof in duplicate and under oath, setting forth facts from which it may be determined whether the requirements of § 1007 of this title have been met, and in addition thereto the following:
(1) Name and address of the insurer, and name and address of the person named in the policy pursuant to § 1009(1) of this title to whom the Commissioner shall send copies of legal process and other legal documents.
(2) Number of the policy issued.
(3) Exact name and address of the insured.
(4) Nature and amount of liability assumed by the insurer.
(5) Premium rate charged.
(6) Amount of total premium.
(7) Other information required by the Commissioner.
The Commissioner shall prescribe and furnish the required report form.
History —Ins. Code § 10.080.
2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1009 - Special provisions in surplus line policies

(1) Every insurance contract procured as a surplus line coverage pursuant to this chapter shall provide, by endorsement or otherwise, for service of legal process upon the insurer in the manner provided in § 1018 of this title, and shall designate by name and address the person to whom the Commissioner shall forward copy of process so served.
(2) Every such contract shall have stamped upon it and be initialed by or bear the name of the producer who procured it, the following:
“This contract is registered and delivered as a surplus line coverage under the Insurance Code of the Commonwealth of Puerto Rico.”
History —Ins. Code § 10.090.