P.R. Laws tit. 26, § 951b
(1) No person shall act in the capacity of general agent in relation to those risks located in the Commonwealth of Puerto Rico in the name of an insurer authorized to enter into the insurance business in Puerto Rico, unless said person holds a license issued by the Commissioner to do so pursuant to this chapter and unless an appointment of said insurer exists pursuant to the provisions of § 951c of this title.
(2) The license as general agent issued by the Commissioner shall continue in effect while it has not been suspended, revoked or cancelled, but subject to the payment of the annual fee for the amount stipulated in § 701 of this title before its expiration date.
(3) The Commissioner may deny, suspend or revoke the license of the general agent for any of the grounds specified in § 953f of this title and in the manner provided in § 953g of this title.
History —Ins. Code, added as § 9.211 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.