4303

(1) An international insurer shall be exempted from all the provisions of this Code, with the exception of those that are expressly provided in this chapter or the specific provisions referred to in this chapter.\n(2) Without it being construed as a limitation, such exemption shall include the following:\n(a) No international insurer shall be required to become associated with or financially contribute to any plan, consortium, association or guaranty or insolvency fund in Puerto Rico, nor shall any international insurer or insured of such insurer receive any benefit from said plan, consortium, association or guaranty or insolvency fund due to claims that arise from the operations of said insurer;\n(b) no international insurer shall be required to be a member of any rating agency or to be otherwise subject to the inscription of tariff types in Puerto Rico with respect to any policy issued by said insurer, and\n(c) no international insurer shall have the obligation to submit any insurance policy form or tariff plan for the approval of the Commissioner.\nHistory —Ins. Code, added as § 61.030 on Sept. 22, 2004, No. 399, § 1, eff. 180 days after Sept. 22, 2004.