P.R. Laws tit. 26, § 655
(1) Subject to the limitations indicated in subsections (1) and (2) of § 653 of this title, an insurer may invest in securities of a registered investment company.
(2) Subject to the limitations indicated subsections (1) and (2) of § 653 of this title, an insurer may acquire interests in equity of any business entities organized under the laws of Puerto Rico or any state of the United States or province of Canada.
(3) An insurer may acquire interests in equity that are not registered with a registered exchange brokerage firm and that are not investments prohibited under § 651 of this title, if the aggregate amount of the interests in equity acquired under subsection (3) of this section do not exceed five percent (5%) of the allowed assets of the insurer.
(4) Unless otherwise indicated in §§ 648–662 of this title, an insurer may not acquire common stock as described in subsections (1), (2), and (3) of this section if, as a result of and after making the investment, the aggregate in common stock investments would exceed thirty percent (30%) of the allowed assets of the insurer.
(5) Tangible chattels subject to leasing.—
(a) An insurer may acquire interests in equity in chattels, located or used in whole or in part within the United States, or Puerto Rico through:
(i) Interests in partnerships, or interests in limited liability partnerships not prohibited under § 651(4) of this title;
(ii) joint ventures;
(iii) interests in equity from limited liability corporations or companies;
(iv) trust certificates, or
(v) other similar instruments.
(b) Investments according to subsection (1)(a) of this section shall be eligible only if chattels are subject to a lease contract or other agreement with a business entity whose obligations (totaling the purchase price of the chattel) may be acquired by the insurer independently, pursuant to § 654 of this title.
(c) An insurer may not acquire investments under this section if, as a result of and after making the investment, the worth of all the investments held by the insurer at that time under this section exceeds two percent (2%) of its allowed assets.
(d) For purposes of determining compliance with the limitations indicated in § 653(1) of this title, the investments acquired by an insurer under this section shall be added to all the investments assumed, issued or secured by the same leaseholder under other sections of §§ 648–662 of this title.
(e) This section shall not apply to chattel lease contracts between the insurer and its subsidiaries or affiliates.
History —Ins. Code, added as § 6.090 on May 16, 2003, No. 130, § 1.