P.R. Laws tit. 4, § 2143
With respect to the administration of the Special Fund, the Commissioner of Insurance shall have the following powers and duties:
(a) To adopt the regulations and forms needed to implement the provisions of this chapter.
(b) To establish the premium to be paid by notaries for the notary bond.
(c) To issue or renew the notary bond to those notaries who so request it.
(d) To establish a reserve that is sufficient to answer to any lawful claim against the Special Fund resulting from a bond issued by the Notarial Bond Commission and to cover the necessary expenses incurred to administer, operate, and keep the Special Fund.
(e) To adopt bylaws whereby its procedures and work standards are established.
(f) To establish the necessary structures to administer the Fund.
(g) To contract managerial, administrative, professional, technical, or consultative personnel, as deemed necessary.
(h) To keep the Supreme Court informed about the status of the bonds it has issued.
(i) To resort to any legal remedies, actions, or proceedings that may be necessary and convenient to enforce the provisions of this Act, whether represented by its attorneys or the Secretary of Justice, upon request to such effects.
(j) To keep a record of all requests made and of the documents submitted by the notaries.
(k) The Commissioner of Insurance may take any other action, and shall have any other power in addition to those conferred herein as necessary or convenient to comply with the provisions of this chapter.
History —July 2, 1987, No. 75, p. 242, added as § 80 on July 27, 2011, No. 158, § 5.