3806

A nonprofit legal entity is hereby created which shall be known as the Puerto Rico Miscellaneous Insurance Guaranty Association. All insurers defined as member insurers in § 3805(9) of this title, shall be and shall continue to be members of the Association as a condition to transact insurance in Puerto Rico. The Association shall carry out its functions under a plan of operations established and approved pursuant to § 3809 of this title, and shall exercise its powers through a Board of Directors established pursuant to § 3807 of this title. For administrative purposes and the imposition of assessments, the Association shall establish two (2) separate accounts:\n(a) A vehicle insurance account, and\n(b) an account for all other kinds of insurances to which this chapter applies.\nHistory —Ins. Code, added as § 38.060 on Aug. 17, 1991, No. 72, § 1.