P.R. Laws tit. 26, § 949k
The commission to be paid to any producer for negotiating insurance shall be circumscribed to the maximum amount fixed in the schedule of types approved by the Commissioner for the corresponding kind or subdivision of insurance. [In case that the registration is not required, the commission to be paid to any producer for negociating insurance shall be circumscribed to the maximum amount fixed by the Commisisioner for that class or subdivision.] Should the Commissioner fail to fix said maximum commission, the same shall be circumscribed to the portion the insurer is able to justify on the basis of a study or analysis conducted by the latter.
The payment of any commission or compensation in addition to the commission calculated and authorized, including but not limited to the payment of contingent commissions, may only be made according to the standards established by the Commissioner for such a purpose through rules or regulations.
No person may accept as incentive for insurance or in relation to an insurance transaction, commissions in excess of the commission calculated and authorized pursuant to the preceding, or accept some other type of prohibited emolument or incentive.
History —Ins. Code, added as § 9.062 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.