P.R. Laws tit. 26, § 8093
Any state shall be eligible to become a subscribing state.
The Compact shall take effect and be obligatory as of the moment in which two (2) subscribing states turn the Compact into law; Provided, That the Commission shall be effective for the purpose of adopting uniform standards for the products introduced to the Commission, for reviewing, approving or disapproving the same if they meet the uniform standards applicable, when twenty-six (26) states have become subscribing states, or as an alternative, through the approval by the states which represent over forty percent (40%) of the volume of premiums for life insurance, annuities, disability payments and long term insurance products based on the N.A.I.C. registers for the preceding year. This shall be effective and obligatory with respect to all other subscribing states when the present Compact becomes law in any of said states.
The Commission may propose amendments to the present Compact to be approved by the subscribing states. No amendment shall become effective nor be compulsory for the Commission or the subscribing states until the subscribing states approve said amendment as law.
History —Dec. 22, 2005, No. 161, art. 1.13.