P.R. Laws tit. 26, § 2604
(1) Every insurer and every general agent, manager or authorized representative shall, on or before May 1 of each year, submit a written report to the Commissioner on all unclaimed funds, as defined in § 2603(b) of this title, withheld and indebted to the former as of the immediately preceding December 31; but the report shall not be required to include sums of less than five dollars ($5) or sums which have been paid to another state or jurisdiction prior to the date of effectiveness of this act. In cases where the insurer has transmitted or credited the funds to his/her general agent, manager or authorized representative to be returned to the person entitled thereto, he/she shall be exempted from filing the report required in this section, but shall submit a certification to such effect to the Commissioner.
(2) The report shall be signed and sworn by an officer of the insurer and in the case of a general agent, manager, or authorized representative, it shall be signed by any of the persons appearing in the license and shall establish:
(a) In alphabetical order, the full name of the insured, annuitant, beneficiary or person who may have any interest in the funds, his/her last known address in accordance with the records of the insurer, general agent, manager or authorized representative and the number of the policy or contract.
(b) The amount indebted on the policy or contract in accordance with the records of the insurer, general agent, manager or authorized representative.
(c) The date on which the unclaimed funds became payable.
(d) The name and the last known address of each insured, beneficiary or person who, according to the records of the insurer, general agent, manager or authorized representative, may have an interest in the unclaimed funds.
(e) Any steps taken by the insurer, general agent or authorized representative to locate the insured or beneficiary.
(f) All such other information as the Commissioner may deem necessary to require.
(3) Every insurer, general agent, manager or authorized representative who does not have unclaimed funds shall submit a negative certification to such effect.
(4) Every insurer, general agent, manager or authorized representative who fails to submit the report required by this section on the date fixed, shall be penalized by the sanctions provided by the Code, as it corresponds. It shall be understood further that a report has not been duly submitted, if it fails to meet the requirements of subsection (2) of this section or does not contain all the information required by the Commissioner.
History —Ins. Code, added as § 26.040 on May 30, 1970, No. 61, p. 159; July 23, 1974, No. 133, Part 1, p. 598, § 14; Jan. 19, 2006, No. 10, § 9; Aug. 4, 2008, No. 155, § 5.