P.R. Laws tit. 26, § 1222
(1) The Commissioner may suspend or revoke the license of a rating organization if he finds that the license[e] no longer meets the qualifications for the license, or that it has failed to comply with an order of the Commissioner within the time specified by such order or any extension of time which the Commissioner may grant.
(2) The Commissioner shall not suspend or revoke the license of any rating organization for failure to comply with an order until the time prescribed for an appeal therefrom has expired or, if an appeal has been taken, until such order has been affirmed.
(3) The Commissioner may determine when a suspension of license shall become effective and it shall remain in effect for the period fixed by him, unless he modifies or rescinds such suspension, or until the order upon which such suspension is based is modified, rescinded or reversed.
(4) No penalty shall be imposed and no license shall be suspended or revoked except upon a written order of the Commissioner, stating his findings, made after a hearing held upon not less than ten days’ written notice to such person or organization, specifying the alleged disqualification or violation.
History —Ins. Code § 12.220.