P.R. Laws tit. 26, § 2911
(1) Unless otherwise provided in the insurer’s articles of incorporation, each stockholder shall have as many votes at meetings of stockholders as there are shares registered in his name on the insurer’s books.
(2) Such a vote may be either in person, or, if absent, by mail, or by proxy. No mailed vote shall be valid unless made over the signature of the stockholder and received by the insurer at its home office prior to the convening of the meeting for which intended. No proxy shall be valid unless in writing signed by the stockholder and filed with the insurer at its home office not later than the time of convening of the meeting for which intended. No proxy shall be valid beyond the expiration date stated therein, and, unless coupled with a substantial ownership interest in the shares to be voted, shall be subject to revocation at any time and shall not be valid beyond three years from the date it was given.
History —Ins. Code § 29.110.