P.R. Laws tit. 26, § 1235
(1) Every advisory organization, before serving as such to any rating organization or independently filing insurer doing business in Puerto Rico, shall secure a certificate of authorization therefor from the Commissioner. Before issuance of such certificate, the advisory organization shall file with the Commissioner:
(a) Copies of its charter, articles of agreement or association, or of incorporation, and the bylaws, rules and regulations, and all amendments thereto, under which it operates or proposes to operate;
(b) a list of its members;
(c) the name and address of a resident of Puerto Rico upon whom notices or orders of the Commissioner or process issued at his direction may be served;
(d) an agreement that the Commissioner may examine such advisory organization in accordance with § 1233 of this title, and
(e) other information as required by the Commissioner.
(2) The license of the advisory organism shall expire at midnight on the date of expiration, subject to the payment to the Commissioner of the annual fees set forth in § 701 of this title.
History —Ins. Code § 12.350; Mar. 27, 2003, No. 96, § 7, retroactive to Jan. 1, 2003.