P.R. Laws tit. 26, § 2605
(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 reports and entitled, “Notice of Unclaimed Funds, Withheld and Indebted by Insurance Companies and/or General Agents, Managers or Authorized Representatives”. Such notice must be published once a week for two (2) consecutive weeks in a newspaper of general circulation in Puerto Rico.
(2) Each notice shall contain in alphabetical order the names of the insured persons or beneficiaries, in addition to:
(a) The amount reported as due and the date it became payable.
(b) The name and last known address of each insured, beneficiary or person that, in accordance with the reports of the insurer, general agent, manager or authorized representative, may have an interest in the unclaimed funds.
(c) The name and the address of the insurer, general agent, manager, or authorized representative.
(3) The notice shall also set forth that the unclaimed funds shall be payable by the insurer, general agent, manager, or authorized representative to those persons who may prove to his satisfaction before the next December 1, their right to receive same, and that not later than the following December 20, such unclaimed funds which still remain uncollected shall be paid to the Commissioner, who shall be thereinafter responsible for their payment.
(4) Insurers, general agents, managers, or authorized representatives shall not be under the obligation to publish amounts of less than fifty dollars ($50) in such notice, unless the Commissioner may consider that such publication is for the good of the public interest.
(5) Expenses incurred in connection with the publication required hereunder shall be defrayed by the insurer, general agent, manager, or authorized representative and chargeable against the unclaimed funds contained in said publication, deducting therefrom such expenses.
(6) The title of the notice to be published shall appear in a font not larger than thirty-eight (38) points, but may be smaller; however, the content of such publication must appear in a font size not smaller than ten (10) points.
(7) Every insurer, general agent or authorized representative shall strictly follow the procedures established herein for the notice and management of unclaimed funds, any noncompliance, default, or diversion from the procedures may be penalized with the sanctions set forth in the Code, as it corresponds.
History —Ins. Code, added as § 26.050 on May 30, 1970, No. 61, p. 159; July 23, 1974, No. 133, Part 1, p. 598, § 15; Jan. 19, 2006, No. 10, § 9; Aug. 4, 2008, No. 155, § 6.