P.R. Laws tit. 26, § 2934
2019-02-20 00:00:00+00
(1) A domestic stock insurer shall not pay any cash dividend to stockholders except out of that part of its available surplus funds which is derived from any realized net profits on its business.
(2) A stock dividend may be paid out of any available surplus funds except funds representing loans to the insurer pursuant to § 2930 of this title.
(3) A dividend otherwise proper, may be payable out of the insurer’s earned surplus even though its total surplus may then be less than the aggregate of its past contributed surplus.
History —Ins. Code § 29.340.