P.R. Laws tit. 26, § 236
(1) The Commissioner shall keep the minutes and records of his/her proceedings, hearings, investigations or examinations, and shall file them in the Office.
(2) The Commissioner shall direct that, at the end of each fiscal year, an external audit of the funds of the Office shall be conducted. Not later than December 1 of each year, the Commissioner shall render to the Governor of the Commonwealth and the Legislature the report of the external auditors. A copy of such audit shall be available to the public.
(3) Not later than June 30th of the following calendar year, the Commissioner shall render an annual report to the Governor, and the Legislature through the latter. The report of the Commissioner shall include:
(a) An abridged statement of significant information obtained from the annual reports of the insurers filed in the Office.
(b) An analysis of the insurance underwritten in Puerto Rico during the preceding calendar year, obtained from the statistics available in the Office.
(c) A supporting statement of the insurers authorized to do insurance business in Puerto Rico during the preceding calendar year, including the address, date of authorization, kind of insurance underwritten, funds, deposits in benefit of policy holders in Puerto Rico, manner in which such funds have been invested, and any other information deemed pertinent by the Commissioner.
(d) Name of insurers that have closed down insurance operations in Puerto Rico and the reasons for such closing down, if known.
(e) Recommendations of the Commissioner with respect to any amendments to the insurance laws and issues affecting the Office.
(f) Any other matters and information that the Commissioner may deem pertinent and useful.
(4) The Commissioner shall prepare the operating expense budget of the Office and submit the same to the Office of Management and Budget, pursuant to the provisions of §§ 101 et seq. of Title 23, known as the “Organic Act of the Office of Management and Budget”.
(5) The Commissioner shall keep the Governor informed on the progress of the Office as to new initiatives, special projects, and important activities promoted and defrayed by him/her pursuant to the provisions of §§ 9–11 of Title 13, which creates the “Insurance Industry Supervision and Regulation Fund.
(6) The Insurance Commissioner shall have available in his/her webpage a copy of the rules, regulations, circular letters, and normative letters drafted by the Office of the Insurance Commissioner.
History —Ins. Code, added as § 2.040 on Aug. 13, 2008, No. 263, § 7, eff. 3 months after Aug. 13, 2008.