P.R. Laws tit. 26, § 953b
(1) Any general agent, producer, authorized representative, proxy, solicitor, consultant, and adjuster license issued by the Commissioner pursuant to the provisions of this chapter, with the exception of temporary licenses, shall continue in effect until their expiration, suspension, revocation, or cancellation. The foregoing shall be subject to the payment of the corresponding annual fees set forth in § 701 of this title to the Commissioner before midnight of the day on which the two (2)-year term, counted from the date of effectiveness of the license, expires. Said payment shall be submitted along with the written application provided by the Commissioner for renewing said license. If the Commissioner does not receive a duly filled out application for the renewal of a license, along with the payment of the corresponding fees, before the expiration date thereof, said license shall be deemed to have expired on that date.
(2) The application for the renewal of a license as solicitor shall be submitted by the producer by whom he/she was appointed.
(3) The Commissioner may consider as an application for a new license any petition for license renewal or the payment of a fee received after the date of expiration of a previously existing license.
(4) The person who possesses a license that has expired or who has control over the same shall immediately surrender the same to the Commissioner for its proper cancellation.
History —Ins. Code, added as § 9.420 on Jan. 19, 2006, No. 10, § 8; Dec. 28, 2010, No. 220, § 10.