P.R. Laws tit. 26, § 808
(1) Any deposit made in Puerto Rico under this title shall be released and returned:
(a) To the insurer upon extinguishment by reinsurance or otherwise of substantially all liability of the insurer for the security of which the deposit is held; or
(b) to the insurer to the extent such deposit is in excess of the amount required, or
(c) upon proper order of a court of competent jurisdiction, to the receiver, conservator, rehabilitator, liquidator of the insurer, or to any other properly designated official or officials who succeed to the management and control of the insurer’s assets.
(2) No such release shall be made except upon application to the Commissioner, and upon order of the Commissioner made upon proof satisfactory to him of the existence of one of such grounds therefor. The Commissioner shall have no personal liability for any such release of any such deposit or part thereof so made by him in good faith.
History —Ins. Code § 8.080.