P.R. Laws tit. 26, § 950a
(1) Prior to the issue of any such license, each applicant for a license as producer, solicitor, adjuster, consultant or proxy, must take and pass, to the satisfaction of the Commissioner, an examination given under the direction of the Commissioner as proof of his/her qualifications and competence, although this requirement shall not apply to:
(a) An applicant who at some date, within a period of five (5) years immediately preceding the date of the application, had been authorized in Puerto Rico under a license similar to the one he/she is applying for and who is considered by the Commissioner to be fully qualified therefor.
(b) An applicant for a license as non-resident producer who meets all classification requirements in his/her state of country of residence and who is deemed by the Commissioner to be fully qualified and competent.
(c) An applicant who has transferred his/her residence from a state or jurisdiction of the United States to have said residence established as bona fide in Puerto Rico, provided he/she meets one of the following conditions:
(A) That at the time of the application he/she holds, in his/her state or jurisdiction of origin, a license equal to the license applied for in Puerto Rico, subject to having said state or jurisdiction issue a certificate of good standing from which may be ascertained that the applicant has no matter pending in the state or jurisdiction which may result in the revocation or suspension of such a license; or
(B) that at the time of the application no more than ninety (90) days have transpired from the date his/her license was cancelled in his/her state or jurisdiction or origin, subject to having that state or jurisdiction certify, to the satisfaction of the Commissioner, that by the date of cancellation of the license the applicant met all requirements to continue holding the same, and
(C) that the provisions of the Model Act for Licensing Producers approved by the National Association of Insurance Commissioners have been adopted in his/her state or jurisdiction and that a similar privilege has been granted to a person residing in Puerto Rico.
(2) If the applicant is a partnership, every partner or member must take and pass the corresponding examination for each kind of insurance that said partnership is to transact pursuant to its license.
(3) If the applicant is a corporation, at least one director must take and pass the corresponding examination for each kind of insurance that said corporation is to transact pursuant to its license. All other persons or any other director who is to be designated on the license of the corporation to transact, on behalf or in representation of the latter, one or more of the kinds of insurance that the same intends to transact, must take and pass the corresponding examination for said kind or kinds of insurance.
(4) The Commissioner may, at any time, require that any licensee take and pass an examination as evidence of his/her competence as a condition for continuing or renewing his/her license if the licensee has been conducting his/her business pursuant to his/her license in a manner that would make the Commissioner need additional evidence as to his/her qualifications. In any of such case, the Commissioner shall give notice of said requirement at least thirty (30) days prior to the date of the examination. The license of such a person shall remain in effect until the results of the examination have been determined by the Commissioner, unless the license expires before for other reasons.
(5) The Commissioner may require that a new examination be taken and passed as part of the procedure established pursuant to § 953h of this title for the reinstatement of a license that has been suspended or revoked for any of the causes provided in this Code.
History —Ins. Code, added as § 9.110 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.