P.R. Laws tit. 26, § 4008
2019-02-20 00:00:00+00
(1) The provisions of this chapter shall not apply to the receivership proceedings commenced before the date of effectiveness of this act, unless the Receivership Court, by request of the Commissioner, and after notice and holding of a hearing to show cause, directs that all or part of this chapter be applicable to such proceedings.
(2) No person, director, officer or shareholder of an insurer that has been subject to a receivership proceeding may contract, solicit or accept new businesses on behalf of the insurer.
History —Ins. Code, added as § 40.080 on Aug. 17, 1991, No. 72, § 1; Dec. 14, 2007, No. 206, § 8.