P.R. Laws tit. 26, § 2112
2019-02-20 00:00:00+00
In addition to the deposits required in § 2104(e) of this title, the automobile club or association shall maintain a reserve of unearned income equal to twenty-five percent (25%) of the total unearned income of the contracts in force but in no case less than the total reimbursement of income made during the preceding twelve months. This reserve shall be computed considering the unearned income in a given year as fifty percent (50%) of the total income from quotas received during the year.
History —Ins. Code, added as § 21.120 on June 15, 1961, No. 68, p. 133, eff. July 1, 1961.