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https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2101/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2101 - Definitions | The following definitions shall apply to §§ 2101–2122 of this title:
(a) The term “automobile club” or “association”, as used in this subchapter, is hereby defined as follows: Any natural or artificial person that, as of the effective date of this act or thereafter, in consideration of a sum of money as quota or premiu... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2102/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2102 - Services covered | The following is a definition of the nature and extension of the services which an automobile club or association covered by the provisions of this subchapter may agree to render:
(a) General services.— This classification shall include the rendering, furnishing, or acquisition of towing, emergency, life insurance, acc... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2103/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2103 - Term for filing application | Within the thirty days following the effective date of this act, any automobile club or association operating in Puerto Rico under the provisions of this subchapter shall file in the Office of the Commissioner, in the form provided by him for such purposes, an application for a license or certificate of authority to co... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2104/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2104 - Application for authorization | Any application for an authorization filed under the provisions of this subchapter must be accompanied by the following documents, information, and exhibits:
(a) An application in the form prescribed by the Commissioner, signed under oath by the president of the association or any other of its principal officers.
(b) A... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2106/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2106 - Examinations | The Commissioner shall not issue a license until he is convinced that the automobile club or association has complied with the laws of Puerto Rico and that its administration is trustworthy and competent, for which he may conduct examinations of the automobile club or association and require that any necessary evidence... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2106a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2106a - Books and documents required | Every motorist club or association shall keep true and full accounts, as well as books carrying their assets, obligations, transactions and business, in accordance with accounting methods and practices generally accepted. All books and accounts shall be kept in such a manner as to facilitate the preparation of the repo... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2107/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2107 - Duration of the license | Any license issued under the provisions of this subchapter shall continue in force upon payment of the corresponding fees on or before the midnight of June 30 of each year, unless it is revoked or suspended by the Commissioner in the course of a given fiscal year.
History —Ins. Code, added as § 21.070 on June 15, 1961,... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2108/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2108 - Revocation or suspension of lic... | If the Commissioner, after a hearing, finds that an automobile club or association has violated any provision of this subchapter, or that it is insolvent, or that its assets are less than its liabilities, or that the club or association, or its officers, refuses or refuse to be examined, or that it conducts its busines... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2109/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2109 - Annual statement | Every automobile club or association shall file in the Office of the Commissioner, on or before March 31 of each year, a financial statement in the form and manner prescribed by the Commissioner, signed under oath by its president or one of its principal officers, showing its financial condition as of the preceding Dec... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2110/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2110 - Approval of forms | No service contract issued in Puerto Rico shall become effective until a form of such contract has been kept filed in the Office of the Commissioner for sixty days, unless before the expiration of this term the form has been approved in writing by the Commissioner, nor shall any contract become effective or issued if t... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2111/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2111 - Contents of contract | No service contract shall be issued or delivered in Puerto Rico unless it contains the following:
(a) The name of the automobile club or association.
(b) The exact address of the home office of the automobile club or association and that of its business office in Puerto Rico showing the street, number, and city.
(c) A ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2112/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2112 - Reserves | In addition to the deposits required in § 2104(e) of this title, the automobile club or association shall maintain a reserve of unearned income equal to twenty-five percent (25%) of the total unearned income of the contracts in force but in no case less than the total reimbursement of income made during the preceding t... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2112a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2112a - Assets and liabilities | Sections 5.010, 5.020 and 5.030 shall be applicable to motorists clubs or associations for the purpose of determining their economic status.
History —Ins. Code, added as § 21.121 on July 23, 1974, No. 133, Part 1, p. 598, § 20. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2113/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2113 - Unlawful practices | The purchase of contracts from unauthorized automobile clubs or associations is hereby prohibited.
No person shall solicit or help other persons in the purchase of a service contract issued by an unauthorized automobile club or association in Puerto Rico.
The twisting or exaggeration of the terms of a service contract ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2115/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2115 - Rules and regulations | The Commissioner may promulgate rules and regulations to enforce the provisions of this subchapter. The violations of these rules and regulations shall be punished by an administrative fine of not more than five hundred dollars ($500).
History —Ins. Code, added as § 21.150 on June 15, 1961, No. 68, p. 133; May 24, 1974... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2116/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2116 - Appeals | The appeals from the decisions of the Commissioner regarding the enforcement of this subchapter shall be conducted as provided in § 226 of this title.
History —Ins. Code, added as § 21.160 on June 15, 1961, No. 68, p. 133, eff. July 1, 1961. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2117/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2117 - Restricted application | Nothing contained in this subchapter shall apply to lawyers acting in the normal course of their profession nor to any insurance company duly authorized under the laws of the Commonwealth of Puerto Rico.
History —Ins. Code, added as § 21.170 on June 15, 1961, No. 68, p. 133, eff. July 1, 1961. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2118/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2118 - License required | No automobile club or association or producer shall execute, issue or deliver a service contract unless previously licensed by the Commissioner of Insurance, pursuant to the provisions of this subchapter, nor shall an automobile club or association or producer collect or receive from any person, before the execution, i... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2119/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2119 - Duplicate contracts; signature;... | Each service contract executed, issued, or delivered in Puerto Rico shall be made in original and one copy, signed by the corresponding officer of the automobile club or association, or by its authorized agent and by the person in whose favor it is issued. The copy shall be kept by the automobile club or association, a... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2120/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2120 - Taxation | Every automobile club or association, as defined in this subchapter, that is organized for profit and that conducts business in Puerto Rico, shall pay on or before March 31 of each year to the Secretary of the Treasury of the Commonwealth of Puerto Rico, through the Office of the Commissioner, a tax of one and a half p... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2121/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2121 - Penalties | (a) Any person violating this subchapter shall upon conviction be punished by a fine of not less than fifty dollars ($50) nor more than five hundred dollars ($500), or by imprisonment in jail for not more than six (6) months, or both penalties.
(b) Administrative fines.— The Commissioner may impose administrative fines... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-i/2122/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter I - Automobile Clubs or Associations (§§ 2101 — ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter I - Automobile Clubs or Associations (§§ 2101 — 2122) › § 2122 - Applicability | The automobile clubs or associations, as defined in this subchapter, shall not be subject to the other provisions of this Insurance Code, except in those cases where it is so expressly provided by law.
History —Ins. Code, added as § 21.220 on June 15, 1961, No. 68, p. 133, eff. July 1, 1961. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-ii/2123/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter II - Service Contracts (§§ 2123 — 2134)›§ 2123 -... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter II - Service Contracts (§§ 2123 — 2134) › § 2123 - Service contracts | The provisions of §§ 2123–2134 of this title shall constitute a separate subchapter, which shall be applicable to service contracts, as defined below. All reference to “this subchapter” shall refer to the provisions of these sections. Except for those provisions of this Code expressly stated in this subchapter to apply... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-ii/2124/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter II - Service Contracts (§§ 2123 — 2134)›§ 2124 -... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter II - Service Contracts (§§ 2123 — 2134) › § 2124 - Scope | This subchapter shall not apply to manufacturer’s guarantees or maintenance contracts as defined hereinbelow.
History —Ins. Code, added as § 21.240 on Sept. 8, 2000, No. 392, § 3. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-ii/2125/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter II - Service Contracts (§§ 2123 — 2134)›§ 2125 -... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter II - Service Contracts (§§ 2123 — 2134) › § 2125 - Definitions | As used in this subchapter:
(1) Maintenance contract.— Means a contract of limited duration that only provides programmed maintenance. The maintenance contract shall not include any of the obligations included in the service contract.
(2) Service contract.— Means a contract or agreement issued in exchange for a separat... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-ii/2126/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter II - Service Contracts (§§ 2123 — 2134)›§ 2126 -... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter II - Service Contracts (§§ 2123 — 2134) › § 2126 - Requirements to do service contract business | (1) No service contract shall be issued, sold or offered for sale in Puerto Rico, unless the provider has:
(a) Provided a receipt for the acquisition of the service contract to the holder of the contract;
(b) provided a copy of the service contract to the holder of the contract within a reasonable period of time from t... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-ii/2127/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter II - Service Contracts (§§ 2123 — 2134)›§ 2127 -... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter II - Service Contracts (§§ 2123 — 2134) › § 2127 - Required disclosures—Reimbursement insurance ... | (1) Every reimbursement insurance policy that insures service contracts issued, sold or offered for sale in Puerto Rico, shall specifically and visibly state, that when the provider incurs noncompliance of the service contract, such as the failure to return the unearned fees received, the insurer that issued the policy... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-ii/2128/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter II - Service Contracts (§§ 2123 — 2134)›§ 2128 -... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter II - Service Contracts (§§ 2123 — 2134) › § 2128 - Required disclosures—Service contracts | (1) Every service contract that is issued, sold or offered for sale in Puerto Rico shall be written in clear and intelligible language, and the entire contact shall be legibly printed or typewritten, and shall clearly establish the requirements provided in this section, as applicable.
(2) Every service contract insured... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-ii/2129/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter II - Service Contracts (§§ 2123 — 2134)›§ 2129 -... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter II - Service Contracts (§§ 2123 — 2134) › § 2129 - Prohibited acts | (1) No provider shall use in his name nor shall identify him/herself using words such as insurance, contingency, guarantee, bond, mutual, or any other words that describe the insurance business, or a name that is deceitfully similar to the name or description of any insurance or warranty insurance corporation, or of an... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-ii/2130/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter II - Service Contracts (§§ 2123 — 2134)›§ 2130 -... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter II - Service Contracts (§§ 2123 — 2134) › § 2130 - Books and files | (1) Every provider shall keep exact accounts, books and files of the transactions regulated under this subchapter.
(2) The accounts, books and files of a provider shall, at least, include the following:
(a) Copies of each type of service contract issued;
(b) the name and address of each holder of a contract in the meas... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-ii/2131/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter II - Service Contracts (§§ 2123 — 2134)›§ 2131 -... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter II - Service Contracts (§§ 2123 — 2134) › § 2131 - Cancellation or non-renewal of reimbursement ... | No insurer who has issued a reimbursement insurance policy shall cancel or refuse to renew the policy, unless he/she hands or sends a notice to such effect, at least sixty (60) days prior to the date that said cancellation or non-renewal becomes effective. A copy of the cancellation or non-renewal notice shall also be ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-ii/2132/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter II - Service Contracts (§§ 2123 — 2134)›§ 2132 -... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter II - Service Contracts (§§ 2123 — 2134) › § 2132 - Obligation to reimburse | Once a contract holder pays the corresponding service contract fee to a provider, and provided said service contract is insured under a reimbursement insurance policy, the holder of the contract shall be entitled to any benefit provided by the policy, regardless of whether the provider has paid or not the premium of th... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-ii/2133/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter II - Service Contracts (§§ 2123 — 2134)›§ 2133 -... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter II - Service Contracts (§§ 2123 — 2134) › § 2133 - Service contracts in other jurisdictions | (1) Every service contract provider under this subchapter shall inform the Commissioner, within the term the Commissioner provides through regulations, whether the provider or any entity affiliated or related to him/her issues the same or similar service contracts to other jurisdictions of the United States. In the eve... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-21/subchapter-ii/2134/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134)›Subchapter II - Service Contracts (§§ 2123 — 2134)›§ 2134 -... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 21 - Automobile Clubs or Associations and Service Contracts (§§ 2101 — 2134) › Subchapter II - Service Contracts (§§ 2123 — 2134) › § 2134 - Compliance provisions | (1) The Commissioner shall have all the powers and prerogatives that are prescribed in §§ 201–232 of this title to enforce the provisions of this subchapter and protect the holders of contracts.
(2) The Commissioner shall take any action that is necessary and appropriate to enforce the provisions of this subchapter and... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-22/2201/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 22 - Surety (§§ 2201 — 2205)›§ 2201 - Appointment, licensing of attorney-in-fact | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 22 - Surety (§§ 2201 — 2205) › § 2201 - Appointment, licensing of attorney-in-fact | (1) A surety insurer shall file with the Commissioner the appointment and power of attorney of every individual authorized by it to execute surety instruments in Puerto Rico on its behalf.
(2) All such powers of attorney shall comply with and be subject to the laws of Puerto Rico regarding powers of attorney in general... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-22/2202/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 22 - Surety (§§ 2201 — 2205)›§ 2202 - Requirements deemed met by surety insurer | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 22 - Surety (§§ 2201 — 2205) › § 2202 - Requirements deemed met by surety insurer | Whenever by law or by rule of any court, public official, or public body, any surety bond, recognizance, obligation, stipulation or undertaking is required or is permitted to be given, any such bond, recognizance, obligation, stipulation, or undertaking which is otherwise proper and the conditions of which are guarante... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-22/2203/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 22 - Surety (§§ 2201 — 2205)›§ 2203 - Release from liability | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 22 - Surety (§§ 2201 — 2205) › § 2203 - Release from liability | A surety insurer shall be released from its liability on the same terms and conditions as are provided by law for the release of individuals as sureties, except as otherwise expressly provided by the law under which any such surety undertaking is required.
History —Ins. Code § 22.030. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-22/2204/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 22 - Surety (§§ 2201 — 2205)›§ 2204 - Surety insurance; solidarity | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 22 - Surety (§§ 2201 — 2205) › § 2204 - Surety insurance; solidarity | Every surety insurance which guarantees performance of a contract, whether a civil or criminal bond, or any type of obligation shall jointly and severally bind the insurer and his principal, but subject to the terms of prescription or caducity.
History —Ins. Code, added as § 22.040 on May 10, 1976, No. 32, p. 84, § 21. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-22/2205/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 22 - Surety (§§ 2201 — 2205)›§ 2205 - Payment of claims | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 22 - Surety (§§ 2201 — 2205) › § 2205 - Payment of claims | The surety insurer committed under the provisions of § 2204 of this title shall be bound to pay the debt of his principal at the request of the creditor, after verifying, within a term of ninety (90) days, that the claim exists, and is liquidable and demandable. If within that term the insurer does not pay the claim wi... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-23/2301/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307)›§ 2301 - Short title; definitions | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307) › § 2301 - Short title; definitions | This chapter shall be known as the “Mortgage Loans Insurance Act” and may be cited as such.
For the purposes of this chapter:
(1) Mortgage loans insurance.— Means insurance against financial losses arising from default in the payment of the principal, interest and other sums payable under the terms of any note or bond ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-23/2302/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307)›§ 2302 - Capital, surplus and contingencies; requirements | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307) › § 2302 - Capital, surplus and contingencies; requirements | (1) An insurer may not be authorized to transact a mortgage loans insurance business unless he owns and maintains a paid-in capital of not less than one million dollars ($1,000,000) and a paid-in surplus of not less than one million dollars ($1,000,000).
(2) In addition to the capital and surplus required in this secti... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-23/2303/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307)›§ 2303 - Limitations and restrictions in transacting business | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307) › § 2303 - Limitations and restrictions in transacting business | (1) Mortgage loans insurance may be transacted only by a stock insurer duly authorized pursuant to this chapter and shall be written only to insure loans secured by authorized realty guaranties as defined in § 2301 of this title.
(2) An insurer shall limit the amount or his obligation to a maximum of thirty percent (30... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-23/2304/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307)›§ 2304 - Reserve for losses | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307) › § 2304 - Reserve for losses | (1) In addition to the reserve for contingencies required in § 2302 of this title, every insurer of mortgage loans shall establish a reserve for losses for the payment of estimated claims and adjustment expenses in the following cases:
(a) Loans in which the insured holds ownership title acquired as previous requiremen... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-23/2305/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307)›§ 2305 - Funds required | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307) › § 2305 - Funds required | (1) The funds required from mortgage loan insurers in order to qualify for authority to contract this kind of insurance are those indicated under § 2302 of this title.
History —Ins. Code, added as § 23.050 on Mar. 11, 1976, No. 12, p. 27, § 1; July 20, 1979, No. 154, p. 395, § 9. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-23/2306/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307)›§ 2306 - Application | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307) › § 2306 - Application | (1) All provisions of the Insurance Code not in conflict with this chapter shall govern in so far as they are applicable to insurers of mortgage loans insurance.
(2) If any provision of this chapter or the application of such provision to any circumstance is adjudged invalid, the remainder of the chapter or the applica... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-23/2307/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307)›§ 2307 - Applicability | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 23 - Mortgage Loans Insurance (§§ 2301 — 2307) › § 2307 - Applicability | The provisions of this chapter shall not apply to those mortgage insurances in which the Housing Bank acts as insurer by virtue of §§ 261–272 of Title 7. Provided, That in cases where the Housing Bank may opt to contract the mortgage insurances with an insurance company, the latter shall be bound to comply with the pro... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-24/2401/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 24 - Title Insurance (§§ 2401 — 2404)›§ 2401 - Scope of chapter | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 24 - Title Insurance (§§ 2401 — 2404) › § 2401 - Scope of chapter | This chapter relates only to title insurers.
History —Ins. Code § 24.010. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-24/2402/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 24 - Title Insurance (§§ 2401 — 2404)›§ 2402 - Guaranty fund | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 24 - Title Insurance (§§ 2401 — 2404) › § 2402 - Guaranty fund | (1) A title insurer shall within thirty days after expiration of each calendar year set aside into a guaranty fund an amount equal to ten percent (10%) of premiums received by it for title insurance during that year until such guaranty fund amounts to not less than the amount of capital required under this title for au... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-24/2403/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 24 - Title Insurance (§§ 2401 — 2404)›§ 2403 - Investments | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 24 - Title Insurance (§§ 2401 — 2404) › § 2403 - Investments | (1) A domestic insurer transacting only title insurance may invest up to one-fourth of its minimum required paid-in capital, and any of its surplus in such books, maps, abstracts, and other records as are requisite or convenient for transaction of its business as title insurer, and in the maintenance thereof.
(2) Said ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-24/2404/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 24 - Title Insurance (§§ 2401 — 2404)›§ 2404 - Prohibition against guaranteeing obligations executed by others | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 24 - Title Insurance (§§ 2401 — 2404) › § 2404 - Prohibition against guaranteeing obligations executed by others | An insurer shall not in any manner guarantee the payment of the principal of or interest on bonds or other obligations executed by others.
History —Ins. Code § 24.040. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-25/2501/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509)›§ 2501 - Statement of purposes | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509) › § 2501 - Statement of purposes | The purpose of this chapter is to require domestic insurers to establish a reserve for the payment of losses arising from the catastrophes to which Puerto Rico is exposed, so that said insurers may have the financial capacity to offer the greatest protection to those insurers exposed to said risks. The provisions of th... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-25/2502/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509)›§ 2502 - Definitions | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509) › § 2502 - Definitions | As used in this chapter:
(1) Trust.— Means the trust constituted by each native insurer pursuant to § 2504 of this title.
(2) Catastrophic insurance losses.— Means the aggregate losses due to an occurrence, as this term is defined in the insurance contract, sustained by a native insurer under a catastrophic insurance c... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-25/2503/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509)›§ 2503 - Required reserve for catastrophic insurance losses | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509) › § 2503 - Required reserve for catastrophic insurance losses | (1) The native insurers who are underwriting catastrophic insurance in Puerto Rico, must establish and accrue a reserve for all their policies that provide catastrophic insurance coverage. Pursuant to the provisions of § 2506 of this title, the assets that secure said reserve shall be used for the payment of catastroph... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-25/2504/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509)›§ 2504 - Trust of the assets that secure the reserve for catastrophic in... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509) › § 2504 - Trust of the assets that secure the reserve for catastrophic insurance losses | (1) On January 31 of each year, every native insurer who has underwritten catastrophic insurance during the previous year, shall deposit an amount of money equivalent to the reserve for catastrophic insurance losses computed according to § 2503 of this title, for the preceding year, in the trust established pursuant to... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-25/2505/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509)›§ 2505 - Investment of the funds of the trust | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509) › § 2505 - Investment of the funds of the trust | (1) The trust may invest its funds in securities authorized in Chapter 6 of this Code, pursuant to the investment policy dictated by the native insurer.
However, the trust shall not invest its funds in investments whose value is affected by the occurrence of the risks covered by catastrophic insurance in Puerto Rico.
(... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-25/2506/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509)›§ 2506 - Charges against the reserve for catastrophic insurance losses | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509) › § 2506 - Charges against the reserve for catastrophic insurance losses | (1) Except as provided in subsection (2) of this section and § 2503 of this title, a native insurer may charge its reserve for catastrophic insurance losses, and withdraw the assets that are equivalent to said charges from the trust, exclusively for the payment of said losses and adjustment expenses thereof, in keeping... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-25/2507/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509)›§ 2507 - Withdrawal of domestic insurer from the market | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509) › § 2507 - Withdrawal of domestic insurer from the market | (1) Any native insurer who ceases to underwrite catastrophic insurance in Puerto Rico shall maintain its reserve for catastrophic insurance until six (6) months have elapsed after each and every one of its policies that provide catastrophic insurance coverage have ceased to be in effect or until all the claims that hav... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-25/2508/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509)›§ 2508 - Compliance with other provisions | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509) › § 2508 - Compliance with other provisions | The contents of this chapter with regard to the establishment of the reserve for catastrophic insurance losses shall not be understood as releasing the native insurer from complying with §§ 412, 414, and 415 of this title.
History —Ins. Code, added as § 25.080 on Aug. 12, 1994, No. 73, § 1. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-25/2509/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509)›§ 2509 - Penalties | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 25 - Reserve for Catastrophic Insurance Losses (§§ 2501 — 2509) › § 2509 - Penalties | If a native insurer does not establish the reserve for catastrophic insurance losses or does not deposit the corresponding amounts of money in the trust pursuant to the requirements of §§ 2503 and 2504 of this title, it shall be subject to an administrative fine amounting to the unestablished reserve or the amount of m... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-26/2601/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612)›§ 2601 - Title | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612) › § 2601 - Title | This chapter shall be known as Life Insurance Companies, General Agents, Managers and Producers Unclaimed Funds Act.
History —Ins. Code, added as § 26.010 on May 30, 1970, No. 61, p. 159; July 23, 1974, No. 133, Part 1, p. 598, § 11; Jan. 19, 2006, No. 10, § 9, eff. 120 days after Jan. 19, 2006. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-26/2602/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612)›§ 2602 - Scope | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612) › § 2602 - Scope | This chapter shall apply to unclaimed funds, as defined in § 2603(b) of this title of any insurer, general agent, manager and producer to whom the insurer may have returned or credited funds to transmit to a person entitled thereto, who is engaged in the business in Puerto Rico when the last known address of the person... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-26/2603/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612)›§ 2603 - Definitions | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612) › § 2603 - Definitions | (1) For the purposes of this chapter, the following terms shall have the meanings set forth hereinbelow:
(a) Insurer.— Means any insurer including a fraternal benefit society, as defined in § 3601 of this title, who carries out all kinds of insurance transactions in Puerto Rico.
(b) Unclaimed funds.— Means the money he... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-26/2604/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612)›§ 2604 - Reports | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612) › § 2604 - Reports | (1) Every insurer and every general agent, manager or authorized representative shall, on or before May 1 of each year, submit a written report to the Commissioner on all unclaimed funds, as defined in § 2603(b) of this title, withheld and indebted to the former as of the immediately preceding December 31; but the repo... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-26/2605/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612)›§ 2605 - Notice of unclaimed funds;... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612) › § 2605 - Notice of unclaimed funds; publication | (1) On or before September 1 following the presentation of the reports required under § 2604 of this title, each insurer and each general agent, manager, or authorized representative to whom the insurer may have remitted or credited funds, shall cause notices to be published based on the information contained in the re... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-26/2606/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612)›§ 2606 - Payment to Commissioner | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612) › § 2606 - Payment to Commissioner | All unclaimed funds contained in the report required under § 2604 of this title, except those which have ceased to be unclaimed funds, shall be payable to the Commissioner on or before the following December 20; as of said date, the payment of legal interest shall be imposed on the indebted sum, in addition to any sanc... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-26/2607/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612)›§ 2607 - Custody of unclaimed funds... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612) › § 2607 - Custody of unclaimed funds by Commonwealth; release from liability | Upon making the payment of unclaimed funds to the Commissioner the latter shall cover same into the general funds of the Commonwealth Treasury. The insurer who makes such payments shall be released from all liability or any claim or claims existing at that moment, with regard to unclaimed funds or that hereinafter be m... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-26/2608/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612)›§ 2608 - Refund for claims paid by ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612) › § 2608 - Refund for claims paid by insurers | Any person who allegedly claims to be entitled to unclaimed funds which have been paid to the Commissioner may present a claim before the Commissioner within the term of one (1) year reckoning from the date of the delivery to the Commissioner of said unclaimed funds. The above term of expiration, in case of minors, sha... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-26/2609/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612)›§ 2609 - Determination and revision... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612) › § 2609 - Determination and revision of claims | The Commissioner shall have absolute discretion to accept or reject any claim. If a claim is rejected or no action is taken thereon within the ninety (90) days following the receipt of the claim, the claimant may solicit from the Court of First Instance an order, with notice to the Commissioner, so that the latter show... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-26/2610/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612)›§ 2610 - Payment of allowed claims | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612) › § 2610 - Payment of allowed claims | Any claim allowed by the Commissioner or whose payment may have been ordered by him, or by a court of competent jurisdiction, shall be paid from the general funds of the Commonwealth Treasury.
History —Ins. Code, added as § 26.100 on May 30, 1970, No. 61, p. 159. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-26/2611/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612)›§ 2611 - Reports required | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 26 - Unclaimed Funds in Insurance Companies, General Agents, Managers and Producers (§§ 2601 — 2612) › § 2611 - Reports required | The Commissioner shall keep in his office a public record of each payment of unclaimed funds received by him from any insurer, general agent, manager and producer. The report shall show, in alphabetical order, the name and last known address of each insured person or annuitant and of each beneficiary or person who, in ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2701/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2701 - Declaration of purpose | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2701 - Declaration of purpose | The purpose of this chapter is to regulate trade practices in the business of insurance by defining, or providing for the determination of, all such practices in Puerto Rico which constitute unfair methods of competition, or deceptive acts or practices, and by prohibiting the trade practices so defined or determined.
H... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2702/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2702 - Unfair competition; unfair, deceptive practices prohibited | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2702 - Unfair competition; unfair, deceptive practices prohibited | No person shall engage in Puerto Rico in any act or practice which is prohibited in this chapter, or which is defined therein as, or determined pursuant thereto to be, an unfair method of competition or an unfair or deceptive act or practice in the business of insurance.
History —Ins. Code § 27.020. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2703/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2703 - Unreasonable restraint of the insurance business, conditioned subscription, i... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2703 - Unreasonable restraint of the insurance business, conditioned subscription, interlocking control, monopoly | (1) No person shall enter into or concert any action, or agreement to commit, or by any concerted action shall commit any act of boycott, coercion or intimidation resulting in or tending to result in unreasonable restraint of or in a monopoly in the insurance business.
(2) No person shall force nor condition the subscr... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2703a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2703a - Obligation to notify coverage; policy copy | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2703a - Obligation to notify coverage; policy copy | Unless otherwise provided in this Code, any insurer, health service organization or its authorized representative may submit, upon written request by the Commissioner, insurer, beneficiary or claimant, within ten (10) days following such notice, a copy or duplicate of the corresponding policy; Provided, That if such re... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2704/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2704 - Advertisements in general | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2704 - Advertisements in general | No person shall make or disseminate orally or in any other manner any advertisement, information, matter, statement, or any other type of communication or expression:
(1) Misrepresenting or exaggerating the terms of any policy or the benefits or advantages thereof or dividends or share of surplus to be received thereon... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2705/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2705 - Advertisement of assets, liabilities | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2705 - Advertisement of assets, liabilities | Any advertisement or other dissemination of information by or on behalf of an insurer stating the insurer’s assets shall, in the same connection and with equal conspicuousness, state the insurer’s liabilities, computed on the basis allowed for its annual statements. Any such statement purporting to show the insurer’s c... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2706/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2706 - False financial statements | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2706 - False financial statements | (1) No chief official of an insurer shall swear an annual statement report knowing that it contains false or inaccurate information.
(2) No person shall make any false entry in any book, report or statement or omit to make a true entry of any material fact pertaining to the business of the insurer, or file a false fina... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2707/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2707 - Defamation prohibited | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2707 - Defamation prohibited | No person shall make, publish, or disseminate or aid, abet or encourage the making, publishing or dissemination of any information or statement which is false or maliciously critical of or derogatory to the financial condition of an insurer, and which is designed to injure in its reputation or business any insurer, or ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2708/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2708 - Unfair discrimination prohibited | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2708 - Unfair discrimination prohibited | (1) No insurer other than a life insurer or disability insurer shall establish or permit any difference to be established on behalf of specific persons, and in prejudice of others, or between the insured or subjects of insurance having substantially similar insuring, risk and exposure factors, or expense elements, in t... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2708a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2708a - Prohibited property insurance practices | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2708a - Prohibited property insurance practices | In the offering and underwriting of property insurance policies that cover windstorm or earthquake risks, the following shall be observed:
(1) Except as provided in subsection (2) of this section, no insurer shall refuse to offer the minimum required deductible to an insurance applicant or an insured person who request... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2710/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2710 - Rebates and incentives | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2710 - Rebates and incentives | (1) No person shall provide as an incentive to buy insurance, or after having underwritten an insurance, or in connection with any insurance transaction in any policy, or shall offer, sell, buy, or offer or promise to buy, sell, give, promise, or allow, to the present or prospective insured nor to any other person, in ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2711/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2711 - Exceptions to discrimination, rebate or incentive prohibition | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2711 - Exceptions to discrimination, rebate or incentive prohibition | Nothing in § 2710 of this title shall be construed so as to prohibit:
(1) Payment of lawfully earned commission or other lawful compensation to duly licensed producers, and solicitors.
(2) Distribution by a participating insurer to its participating policyholders of dividends, savings, or the unused or unabsorbed porti... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2711a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2711a - Document conservation | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2711a - Document conservation | Any insurer, health service organization, body, advisory or service body, general agent, producer, advisor, proxy or adjuster shall keep and retain, for a five (5) -year period and in the manner provided by the Commissioner through regulations, his/her accounting books, records, and every document pertaining to its ins... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2713/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2713 - Designation of favored producer or insurer; coercion of debtors | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2713 - Designation of favored producer or insurer; coercion of debtors | (1) No person may require as a condition for, or in connection with, a loan or the purchase or deposit of property under contract or in connection thereof, that any insurance to be provided or whose premium is to be paid directly or indirectly by or on behalf of the assignee, depositary or borrower or on his behalf, on... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2713a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2713a - Financial institutions, its subsidiaries or affiliates, insurance sale metho... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2713a - Financial institutions, its subsidiaries or affiliates, insurance sale methods and practices | (1) Financial institutions or its subsidiaries or affiliates, shall not discriminate against any insurance provided or to be provided to prospective insured by other producer or authorized representative that are not associated with the financial institution, its subsidiaries or affiliates.
(2) Financial institutions, ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2714a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2714a - Notice of claim | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2714a - Notice of claim | An insurer, after being notified of a claim, shall acknowledge receipt thereof within the following fifteen (15) days after having being notified of the same. Any notice made to one of the persons authorized by the insurer to receive claims on his/her behalf shall be considered to be notified to the latter provided tha... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2715/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2715 - “Twisting” prohibited | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2715 - “Twisting” prohibited | No person shall make any misleading representations or incomplete or fraudulent comparisons of any insurance policies or insurers for the purpose of inducing, or tending to induce, any person to lapse, forfeit, surrender, terminate, retain, or convert any insurance policy.
History —Ins. Code § 27.150, renumbered as § 2... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2716/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2716 - Illegal dealing in premiums | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2716 - Illegal dealing in premiums | (1) No person shall collect any sum as premium or charge for insurance, which insurance is not then provided or is not in due course to be provided (subject to acceptance of the risk by the insurer) by an insurance policy issued by an insurer as authorized by this title.
(2) No person shall collect as premium or charge... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2716a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2716a - Unfair claim adjustment practices or actions | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2716a - Unfair claim adjustment practices or actions | In the adjustment of claims no person shall incur or carry out any of the following unfair actions or practices:
(1) Misrepresent the facts or the terms of a policy relative to a coverage in dispute.
(2) Fail to acknowledge receipt and act reasonably prompt within ninety (90) days after a claim has been filed and notif... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2716b/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2716b - Term for resolution of claims | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2716b - Term for resolution of claims | (1) The investigation, adjustment, and resolution of any claim shall be made in the shortest reasonable period of time within the first ninety (90) days after said claim have been submitted to the insurer.
(2) In the event that an insurer is unable to resolve a claim within the term established in subsection (1) of thi... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2716c/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2716c - Methods to settle a claim | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2716c - Methods to settle a claim | The following actions constitute the resolution of a claim:
(1) The full payment of the claim.
(2) The written and duly justified denial of the claim.
(3) The closing of the claim due to inactivity of the claimant when the latter does not cooperate nor furnishes the information necessary for the insurer to adjust the c... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2719/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2719 - Reports and statements to obtain insurance | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2719 - Reports and statements to obtain insurance | (1) No person may file, present, offer, participate in or help to file, present or offer any false document, information, statement or report in order to obtain an insurance policy.
(2) Any person who knowingly incurs in the acts described above shall be deemed to have committed fraud for the purpose of this chapter.
H... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2720/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2720 - False claims or evidence | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2720 - False claims or evidence | (1) Present a false or fraudulent claim, or alter or omit information or any evidence in support thereof, for the payment of a loss, in reference to an insurance policy; or
(2) help or participate in the filing of a fraudulent claim, or alter or omit information or any evidence in support thereof, for the payment of a ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2720a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2720a - Misappropriation | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2720a - Misappropriation | Any person who takes money corresponding to received or returned premiums in the course of the insurance business, as well as any sum of money from the payment of claims or benefits without being duly authorized therefor may be punished by an administrative fine pursuant to the provisions of § 2735 of this title.
Any p... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2726/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2726 - Requirement to report fraudulent acts in the insurance business | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2726 - Requirement to report fraudulent acts in the insurance business | Any insurer, health services organization, general agent, producer, authorized representative, solicitor or adjuster who has a well grounded knowledge that an act described in §§ 2706, 2719, 2720 and 2720a of this title has been committed, is being committed or shall be committed, will be bound to submit to the Commiss... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2727/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2727 - Requirement to provide information on claims to a central data bank | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2727 - Requirement to provide information on claims to a central data bank | Every authorized insurer shall provide information related to the claims that it receives to a central data bank recognized by the Commissioner. This requirement shall not apply to life and disability insurers.
History —Ins. Code, added as § 27.270 on Jan. 8, 2004, No. 18, § 4; renumbered as § 27.240 and amended on Aug... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2727a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2727a - Civil immunity | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2727a - Civil immunity | Except when it has been demonstrated that gross negligence has been incurred no extra-contractual civil liability may be imposed to any person who in good faith and under the provisions of this Code provides information to the Commissioner or to any law enforcement agency about fraudulent acts related to the insurance ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2730/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2730 - False information of fraudulent acts | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2730 - False information of fraudulent acts | Any person who furnishes information verbally or in writing, or offers any testimony on improper or illegal actions which, due to their nature constitute fraudulent acts in the insurance business, knowing that the facts are false shall incur a felony and, upon conviction, shall be punished by a fine of not less than fi... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2731/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2731 - Action plan | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2731 - Action plan | The Board of Directors of every insurer of the country and every health services organization shall adopt a written action plan to detect, prevent and fight fraudulent acts in the insurance business.
Such action plan shall contain at least the following:
(1) A description of the procedures established to fulfill the ob... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-27/2732/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740)›§ 2732 - Notice | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 27 - Unfair Practices and Frauds (§§ 2701 — 2740) › § 2732 - Notice | Insurers and health service organizations are bound to include in every insurance application form and in every insurance claim form, a conspicuous and legible notice with the following information:
“Any person who knowingly and with the intention of defrauding presents false information in an insurance application, or... |
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Unemployment Word Count by State
Calculates the total word count of documents related to unemployment in each state, revealing insights into the volume of unemployment-related content by location.
CO Title 8 Word Count
Calculates the total number of words in the content of entries related to 'Title 8' in Colorado, providing insight into the volume of text data available for that specific category and state.