P.R. Laws tit. 26, § 1016
2019-02-20 00:00:00+00
(1) The Commissioner may revoke any surplus line broker’s license:
(a) If the broker fails to file report of coverage and to pay the tax as required by this chapter.
(b) If the broker fails to keep the records and allow inspection thereof by the Commissioner as required by this chapter.
(c) For any other violation of this chapter, and for any of the causes for which a broker’s license may be revoked as provided in § 946 of this title.
(2) The procedures provided by Chapter 9 of this Code for the suspension or revocation of broker’s licenses shall be applicable to suspension or revocation of a surplus line broker’s license.
History —Ins. Code § 10.160.