P.R. Laws tit. 26, § 2726

2019-02-20 00:00:00+00
§ 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 Commissioner the information he has available on such act, to conduct an investigation, and otherwise facilitate it. Any insurer, health service organization, general agent, producer, authorized representative, solicitor or adjuster who fails to comply with this provision shall be punished by an administrative fine pursuant to the provisions of § 2735 of this title.

History —Ins. Code, added as § 27.260 on Jan. 8, 2004, No. 18, § 4; Jan. 19, 2006, No. 10, § 9; renumbered as § 27.200 and amended on Aug. 9, 2008, No. 230, § 20, eff. 90 days after Aug. 9, 2008.