P.R. Laws tit. 26, § 107
Without affecting the generality of the foregoing provisions, this title shall not cover or determine the existence of operations, contracts, officers, directors or representatives of any organization to the extent that its insurance operations are prescribed or permitted by any other law expressly enacted for the purpose, except the Commonwealth of Puerto Rico Employees’ Association Act, created by virtue of §§ 862 et seq. of Title 3, nor the Accelerated Financing Project, an entity created through the order of April 28, 1988, issued by the United States District Court, for the District of Puerto Rico in the case of Carlos Morales Feliciano, et al. v. Pedro Roselló González, et al., civil case No. 79A(PG), and as covered in Rule 220 of Title 34, App. II, or of any relief or mutual assistance nonprofit society or Association founded in Puerto Rico prior to April 11, 1899, and which at present has established, and maintains and operates any medical-surgical and hospital services plan in Puerto Rico for its dues paying members on a nonprofit basis. However, these excluded societies or associations which at present have established, and maintain and operate any hospital services plan in Puerto Rico, shall be bound to comply with §§ 47, 48, and 50 of Title 6, as heretofore or hereafter amended, and shall be bound to maintain the reserves required of the entities organized under §§ 41 et seq. of Title 6.
Provided, That in the case of the Commonwealth of Puerto Rico Employees’ Association, the Insurance Commissioner of the Commonwealth of Puerto Rico is hereby empowered to promulgate and carry out the regulatory provisions needed to inspect and supervise the insurance activities thereof. Said regulatory provisions shall take into consideration the special nature of the Association, pursuant to the provisions of §§ 862 et seq. of Title 3, and its insurance activities.
History —Ins. Code § 1.070; May 23, 1958, No. 20, p. 24; May 10, 1976, No. 32, p. 84, § 1; May 23, 1980, No. 50, p. 135, § 1; July 6, 1985, No. 76, p. 255, § 1; Jan. 8, 1994, No. 5, § 1; Aug. 11, 1996, No. 123, § 2.