P.R. Laws tit. 26, § 2104
Any application for an authorization filed under the provisions of this subchapter must be accompanied by the following documents, information, and exhibits:
(a) An application in the form prescribed by the Commissioner, signed under oath by the president of the association or any other of its principal officers.
(b) A certified copy of its articles of incorporation and bylaws.
(c) A financial statement of the association in the manner prescribed by the Commissioner, signed by the president or any other of its principal officers.
(d) A certificate from the Secretary of State, if a corporation, stating that it complied with the provisions of the Corporations Law of Puerto Rico.
(e) The sum of fifty thousand dollars ($50,000) in cash or its equivalent in securities subject to approval by the Commissioner to guarantee the faithful compliance by the applicant entity of all the provisions of this chapter as well as its obligations toward its members.
(f) When the application is made by a foreign automobile club or association it shall designate an agent authorized to receive service of process on behalf of the applicant, which agent shall in all cases be a resident of Puerto Rico.
(g) Copies of the application forms for membership, credentials as such, bylaws, service contracts, advertising material or any other document required by the Commissioner.
(h) The names of the incorporators or directors of the applicant with their postal addresses and personal circumstances, including their occupations and professions, so that with such information the Commissioner may verify their competence, good character, and reputation.
History —Ins. Code, added as § 21.040 on June 15, 1961, No. 68, p. 133; June 5, 1973, No. 98, p. 419, § 15; July 23, 1974, No. 133, Part 1, p. 598, § 10; Feb. 16, 1979, No. 15, p. 28, § 11.