P.R. Laws tit. 26, § 4053
(1) In a liquidation proceeding in Puerto Rico involving one or more reciprocal states, the order of distribution issued in the domiciliary state shall prevail in regard to all the claims of the residents of Puerto Rico and the reciprocal states. All the claims of residents of reciprocal states shall be given equal priority of payment from the general assets regardless of where such assets are located.
(2) The owners of special deposit claims against an insurer for which a liquidator has been appointed in Puerto Rico or in any other state of the United States, shall be given priority against the special deposits pursuant to the statutes governing the creation and maintenance of the deposits. If there is a deficiency in any deposit so that the claim secured by it cannot be paid in full, the claimants may share in the general assets, but the sharing shall be deferred until the general creditors as well as the claimants against other special deposits who have received smaller percentages of their respective special deposits have been paid percentages of their claims equal to the percentage paid from the special deposits.
(3) The owner of a secured claim against an insurer for which a liquidator has been appointed in Puerto Rico or any other state, may surrender his/her security and file his/her claim as a general creditor or the claim may be discharged by recourse to the surety, pursuant to § 4038 of this title, in which case the deficiency, if any, shall be deemed as a claim against the general assets of the insurer as if they were claims of unsecured creditors.
History —Ins. Code, added as § 40.530 on Aug. 17, 1991, No. 72, § 1.