P.R. Laws tit. 26, § 308
2019-02-20 00:00:00+00
An insurer who otherwise qualifies therefor may be authorized to transact any one kind or combination of kinds of insurance as defined in §§ 401–414 of this title, except that:
(1) A life insurer may not be authorized to contract any other kind of insurance except for disability. Provided, That this limitation shall not apply to insurers who deal exclusively with reinsurance.
(2) A reciprocal or Lloyd’s insurer shall not transact life insurance.
(3) A title insurer shall be a stock or cooperative insurer.
(4) A domestic mutual insurer doing business on the assessment premium plan shall transact agricultural insurance only.
History —Ins. Code § 3.080; June 25, 1965, No. 86, p. 200, § 13; Feb. 16, 1979, No. 15, p. 28, § 3.