P.R. Laws tit. 26, § 1001
(1) No person shall in any manner:
(a) Represent or assist any insurer not then duly authorized to transact insurance in Puerto Rico, in the procuring, placing, or maintenance of any insurance coverage upon or with relation to any subject of insurance resident, located, or to be performed in Puerto Rico.
(b) Represent or assist any person in the procuring of insurance in any such unauthorized insurer upon or with relation to any such subject of insurance.
(c) Inspect or examine any risk or investigate or adjust any loss, other than an ocean marine or aviation risk or loss, or collect or receive any premium, on behalf of any such insurer or person.
(2) Any person transacting within Puerto Rico directly or indirectly any insurance in behalf of any such unauthorized insurer shall be personally liable to the insured for the performance of any contract between the insured and the insurer resulting from such transaction.
(3) Each violation of this section shall constitute a misdemeanor.
(4) The Commissioner shall assist and cooperate with the Secretary of the Treasury in the enforcement of laws relative to the nondeductibility for income tax purposes of sums paid for or on account of insurance placed in an unauthorized insurer.
(5) This section shall not apply as to insurance placed or procured in accordance with § 412 of this title, to surplus line insurance lawfully procured pursuant to this chapter, to transactions exempt under § 303(2) of this title, or to any transaction with respect to an insurance coverage on a subject of insurance not resident, located, or expressly to be performed in Puerto Rico at time of issuance and written and delivered in a state or country in which the insurer was then authorized to transact insurance.
History —Ins. Code § 10.010.