P.R. Laws tit. 26, § 4206
2019-02-20 00:00:00+00
The Commissioner may investigate the operations of the charitable annuity programs of the charitable organizations holding special licenses, as empowered by §§ 201–232 of this title. If the Commissioner determines, after due notice and hearing, that a charitable organization holding a special license has not complied with the requirements of §§ 4201–4210 of this title, the Commissioner may revoke or suspend said special license or direct the charitable organization to desist from making new annuity contracts until it complies with said requirements.
History —Ins. Code, added as § 42.060 on Aug. 12, 1999, No. 230, § 2.