P.R. Laws tit. 26, § 951d

2019-02-20 00:00:00+00
§ 951d. Solicitor—Requirements

A license as solicitor may only be issued to a natural person who meets the following requirements:

(1) To be residing in and to have been a bona fide resident of Puerto Rico for at least one (1) year immediately before the date on which the license is applied for, to be at least eighteen (18) years of age and to have finished high school or its equivalent. The Commissioner may, at his/her discretion, waive the residence requirement of an industrial life insurance solicitor who is to be assigned to a specific area for the collection of small short-term premiums.

(2) To be trustworthy, competent and willing to actively engage in the insurance business as his/her main occupation and be otherwise in compliance with § 949m of this title.

(3) To pass any examination required pursuant to § 950a of this title.

(4) To be appointed solicitor by a single authorized resident producer in relation to any kind or kinds of insurance for which said producer is authorized.

(5) Shall not be licensed as general agent, producer, consultant or adjuster.

(6) Shall not devote a substantial portion of his/her time to the adjustment of losses when he/she is a salaried employee of an insurer or general agent.

(7) Shall satisfactorily show to have met those continuing education requirements that, from time to time, adopts the Commissioner [sic] through rule or regulation.

History —Ins. Code, added as § 9.220 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.