304a

The Commissioner may deny, suspend or revoke the authority to transact insurance in Puerto Rico to any foreign insurer organized in any country or jurisdiction, whose laws or enforcement thereof he may consider inadequate with respect to capital requirements and public intervention or supervision applicable to its domestic insurers for the protection of the policyholders and creditors of said insurers. History —Ins. Code § 3.041, renumbered as § 3.042 on Mar. 6, 1995, No. 28, § 3; renumbered as § 3.032 on Dec. 21, 2010, No. 210, § 2, eff. 90 days after Dec. 21, 2010.