P.R. Laws tit. 26, § 2950
2019-02-20 00:00:00+00
(1) The insurer shall continue to be subject to the supervision of the Commissioner throughout the process of voluntary liquidation and dissolution.
(2) If, after a hearing thereon, the Commissioner at any time finds that such process is being conducted unfairly, or dishonestly, or without reasonable diligence, or contrary to law, he may make such order as may be necessary for the correction of such defect, or he may apply to the Court of First Instance for a receivership of the insurer in accordance with the procedure in §§ 4001–4024 of this title.
History —Ins. Code § 29.500.