P.R. Laws tit. 26, § 4054

2019-02-20 00:00:00+00
§ 4054. Liquidation—Noncooperation, subordination of claims

(1) If an ancillary receiver in another state or foreign country, whether named as such or not, fails to transfer to the domiciliary liquidator in Puerto Rico any assets within his/her control other than special deposits, reduced only by the expenses of the ancillary receivership, if any, the claims filed with the ancillary receiver, other than special deposit claims or secured claims, shall be included in the corresponding class of claims pursuant to § 4039(7) of this title.

History —Ins. Code, added as § 40.540 on Aug. 17, 1991, No. 72, § 1.