P.R. Laws tit. 26, § 9293
(a) Any rehabilitation or liquidation of a limited health service organization shall be deemed to be the rehabilitation or liquidation of an issuer and shall be conducted under the supervision of the Commissioner by virtue of the Insurance Code of Puerto Rico on rehabilitation or liquidation. The Commissioner may request the court to enter an order for rehabilitation, liquidation or any other applicable remedy, or when in his/her judgment the continued operation of the organization would be hazardous to its subscribers or the public interest.
(b) A limited health service organization shall not be subject to the laws and regulations governing insurance insolvency guaranty funds, nor shall any insurance insolvency guaranty fund provide protection to individuals entitled to receive limited health services from a limited health service organization.
History —Aug. 29, 2011, No. 194, added as § 16.230 on Aug. 23, 2012, No. 203, § 2, eff. 90 days after Aug. 23, 2012.