P.R. Laws tit. 26, § 4508
Under any of the following circumstances, the insurer shall be entitled to object to any determination or action taken by the Commissioner through the adjudicative procedure pursuant to the “Uniform Administrative Procedures Act”, §§ 2101 et seq. of Title 3, and the Insurance Code.
(1) When the Commissioner notifies to an insurer concerning a revised risk based capital report.
(2) When the Commissioner notifies to an insurer that:
(a) The risk based capital plan of the insurer or the revised plan is not satisfactory, and
(b) said notice constitutes a regulatory action level event against said insurer.
(3) When the Commissioner notifies to any insurer that the insurer has failed to comply with the risk based capital plan or the revised plan, which has adversely and significantly impaired the ability of the insurer to eliminate the insurer action level event.
(4) When the Commissioner notifies to the insurer of a corrective order against the insurer.
History —Ins. Code, added as § 45.080 on Mar. 18, 2008, No. 32, § 1, eff. 1 year after Mar. 18, 2008.