P.R. Laws tit. 26, § 243
(1) The Commissioner shall investigate or examine the operations, transactions, accounts, records, documents, and capital of every authorized insurer.
(2) The Commissioner shall examine every insurer at least once every five (5) years.
(3) The investigation or examination of foreign insurers may circumscribe to their insurance operations in Puerto Rico. The Commissioner may, in his/her discretion, accept the full report of a similar investigation or examination conducted by the insurance regulating official of a state or country, under the laws thereof, in lieu of conducting an investigation or examination of this kind to a foreign insurer.
(4) If in the course of an investigation or examination, the Commissioner finds that the accounts are unduly kept or transferred or are not adequate, he/she may resort to experts in order to readjust, transfer or balancing the same chargeable to the person under investigation or examination, if such person has failed to complete or correct such accounting after the Commissioner has given him/her notice and the opportunity to do so.
(5) If the Commissioner deems it necessary to assess any real or personal property involved in any of such investigations or examinations, he/she may hire competent appraisers to such purposes.
History —Ins. Code, added as § 2.110 on Aug. 13, 2008, No. 263, § 7, eff. 3 months after Aug. 13, 2008.