P.R. Laws tit. 26, § 3504
2019-02-20 00:00:00+00
(1) The respective underwriters or insurers in a Lloyd’s (by power of attorney) shall vest in an attorney-in-fact full power to represent and bind them with respect to compliance by the insurer with the requirements of this title, and with respect to all insurance transactions under the certificate of authority.
(2) The attorney-in-fact may be either an individual or a corporation.
(3) The principal place of business of the attorney-in-fact shall be maintained in Puerto Rico.
(4) All reports, statements, and documents of or by the insurer shall be executed in its name by the attorney-in-fact.
History —Ins. Code § 35.040.