P.R. Laws tit. 26, § 256
(1) The necessary funds to defray regular operating expenses of the Office of the Commissioner shall originate from the annual fees that, pursuant to § 701 of this title, are to be made by the persons engaged in transacting or contracting insurance under any certificate of authority, license, certificate of eligibility or permit issued by the Commissioner pursuant to this chapter or any special law.
(2) The persons or entities that make the annual fees established in § 701(1) of this title or through regulations shall not be bound to defray expenses relative to examinations or fees established in this chapter or by regulations. The scope of the above mentioned exemption does not include taxes on premiums, administrative fines, and fees established in § 701(2)(f) of this title, the payment for publications sold by the Commissioner, the cost of the appraisal of a real or personal property involved in any investigation or examination made by a competent appraiser or the costs of an expert hired pursuant to § 243(4) of this title.
(3) Foreign insurers who pay the annual fees established in § 701 of this title may deduct the sum thereof from the taxes on premiums that they are required to pay pursuant to § 702 of this title during the year such fees are paid.
(4) The Commissioner, through regulations to such effect, may increase at five (5) year intervals, to be counted as of the effective date of this chapter, the fees established in § 701 of this title, provided that the budgetary needs of the Office so justify. However, the fee increase rate shall not exceed the average annual inflation rate published by the Department of Labor and Human Resources during said five (5) year period.
History —Ins. Code, added as § 2.240 on Aug. 13, 2008, No. 263, § 7, eff. 3 months after Aug. 13, 2008.