P.R. Laws tit. 26, § 4042a
2019-02-20 00:00:00+00
Unless otherwise provided in a plan approved by a guaranty association, until all payments on account of the insurer’s contractual obligations are repaid to the guaranty associations, plus expenses and interest incurred by the same, the insurer that is subject to a receivership proceeding may not:
(1) Solicit or accept new business or accept the restoration of any suspended or revoked license.
(2) Have its control of shareholders or private management restored.
(3) Have any of its assets returned to its shareholders or administrators.
History —Ins. Code, added as § 40.421 on Dec. 14, 2007, No. 206, § 40.