P.R. Laws tit. 26, § 331
(1) Each authorized insurer shall annually, before the thirty-first day of March, file with the Commissioner a true statement of its financial condition, transactions, and affairs as of the December 31st preceding. The statement shall be on forms as prescribed by the Commissioner, shall contain information as required by this title and by the Commissioner, and shall be verified by the oath of at least two of the insurer’s principal officers. The annual statement of a reciprocal or Lloyd’s insurer shall be verified by his attorney-in-fact.
(2) The annual statement of a foreign insurer not formed in the United States but authorized to transact insurance in a state of the United States, may relate only to its assets, transactions, and affairs in the United States and Puerto Rico (and including, at the insurer’s option, the Virgin Islands and the Canal Zone) unless the Commissioner requires otherwise. The statement may be verified by the insurer’s United States manager or by its officers duly authorized.
(3) The Commissioner may suspend or revoke the authority of any insurer failing to file its annual statement when due, or failing to file it during any extension of time therefor which the Commissioner may, for good cause, grant.
History —Ins. Code § 3.310.