P.R. Laws tit. 26, § 1216
The Commissioner may, in his discretion, prescribe by regulation, uniform classifications of accounts to be observed, and statistics to be reported by insurers and other organizations which are subject to the provisions of this chapter. He may also in his discretion prescribe by regulation, forms of reporting such data by such insurers and organizations. Such classifications of accounts, and statistics to be reported and form of reporting shall be reasonable and may vary with the kind or type of insurer or organization. Any regulation or amendment thereto shall be promulgated by the Commissioner only after a hearing preceded by due written notice to all insurers and organizations affected thereby. Any regulation or amendment thereto shall be promulgated by the Commissioner only after a hearing preceded by due written notice to all insurers and organizations affected thereby. Any regulation or amendment thereto shall be promulgated by the Commissioner at least six months before the beginning of the calendar year in which the same shall take effect.
History —Ins. Code § 12.160.