(1) The purpose of this chapter is to protect, subject to certain limitations, those persons specified in § 3903(a) against noncompliance of contractual obligations under life and disability insurance policies, specified in § 3903(b), due to implement or insolvency of the member insurer who issued them.\n(2) To provide this protection, an association of insurers is hereby created for the payment of the benefits and the continuity of the coverages, within the limitations herein established. The members of the Association shall be subject to the imposition of assessments to provide the funds needed to carry out the purposes of this chapter.\nHistory —Ins. Code, added as § 39.020 on Aug. 17, 1991, No. 72, § 1.
Puerto Rico Legal Code