P.R. Laws tit. 26, § 8090
The insurers and third party intermediaries that promote the approval of a product by the Commission shall introduce said product before the Commission and pay the applicable introduction fees. It shall not be construed that the provisions of this Compact restrict or prevent the insurer from introducing a product with the insurance department of any state in which the insurer is licensed to operate an insurance business. Said introduction shall be subject to the laws of the state in which the introduction is made.
The Commission shall establish suitable processes and procedures for introductions and reviews according to the regulations and operating procedures of the Commission. However, should any provision be construed in an opposite sense, the Commission shall promulgate rules to establish conditions and procedures according to which the Commission shall provide public access to the information related to the introduction of products. In establishing said rules, the Commission shall take into account the interests of the citizens in having access to said information as well as in the protection of personal medical and financial information and the business secrets that may be part of the process for introducing a product or its related information.
Any product approved by the Commission may be sold or introduced in the subscribing states in which the insurer is authorized to operate.
History —Dec. 22, 2005, No. 161, art. 1.10.