P.R. Laws tit. 26, § 953e
(1) A temporary license shall expire within one hundred and eighty (180) days following its date of issue or upon receipt of notice of not having approved the examination after which such a license would have been issued, whichever occurs first, except that the license holder is unable, due to reasonable causes, to take the examination within said one hundred and eighty (180) day term, the temporary license shall continue in effect, upon written request of the license holder. Before the expiration date of the one hundred and eighty (180) day term and upon presentation of satisfactory proof of such causes before the Commissioner, until having reasonable opportunity for taking the examination and obtaining the results of the same. The Commissioner may, for just cause, extend for reasonable additional periods any license thus issued because of the death or disability of the agent or broker.
(2) Not more than one temporary license shall be issued to any person during the same twelve (12) month period, as of the date of issue of the temporary license, and the Commissioner may refuse to grant a new license to any person who had thus been previously authorized.
(3) As to those persons who were authorized as authorized representatives due to the death, disability, or absence of an agent, a temporary license shall be required for each insurer to be represented and the insurers shall be limited to those represented by the predecessor agent at the time of the death or disability, or at the beginning of the absence, and no license shall be issued to said holder of a temporary license as to any additional insurer during the existence of a temporary license.
(4) The holder of a temporary license shall have all the rights and privileges of a holder of a permanent license of the same class, provided, that the holder of a temporary license shall not be entitled to receive or be able to receive any commission or compensation whatsoever on account of a new controlled business subscribed by him/her unless he/she qualifies for receiving an equal permanent license before the expiration date of the temporary license.
History —Ins. Code, added as § 9.450 on Jan. 19, 2006, No. 10, § 8; Aug. 2, 2006, No. 143, § 2.