P.R. Laws tit. 13, § 31098
2019-02-20 00:00:00+00
The value of any insurance policy or annuity contract, payable on a fixed date, transferred or assigned with no sufficient consideration in money or its equivalent involved, shall be included in the total sum of gifts. The payments of premiums of any kind of insurance which have been made directly or indirectly on behalf or in representation of any policy holder shall also be included. For purposes of this section, the policy holder shall be deemed to be the person who signed the policy agreement or who holds or has control over the same.
History —Jan. 31, 2011, No. 1, § 2042.08, retroactive to Jan. 1, 2011.