P.R. Laws tit. 7, § 1335c
The Corporation shall render an annual report on all its operations and activities to the Governor, the Legislature and the cooperatives, no later than thirty (30) days after the date it is approved by the Board. This report shall include the following:
(1) A financial statement certified by a certified public accountant.
(2) A statement of income and expenses for the corresponding report year.
(3) Itemized statements on the claims experience of the program during the year, including claims paid, those reported and unpaid, as well as an estimate of those incurred and not reported.
(4) A report of the investment papers and property deeds of the Corporation.
(5) Information on the liquidity of the program, the nature and quality of its collaterals and an evaluation that includes, among others, the data and statistical and financial indicators that are deemed necessary for the adequate interpretation of the actuarial condition of the shares and deposits insurance, and the result of its operations.
A copy of the annual report shall be submitted to the consideration of the Insurance Commissioner of Puerto Rico, who shall evaluate it and inform the Board of Directors and the Governor, of the deficiencies and recommendations he/she deems necessary regarding the financial situation of the Corporation and the sufficiency of the reserves.
History —Aug. 17, 2001, No. 114, § 32.