Whenever it appears to the Commissioner that any person has committed a violation of this chapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the Commissioner may, after giving notice and an opportunity to be heard, suspend, revoke, or refuse to renew the insurer’s license to do business in Puerto Rico for such period as the Commissioner finds is required for the protection of policyholders or the public. The parties shall be notified of any such determination through certified mail and it shall be accompanied by specific findings of fact and conclusions of law, and the petition for review available.\nHistory —Ins. Code, added as § 44.140 on Mar. 7, 2012, No. 51, § 1, eff. 30 days after Mar. 7, 2012.
Puerto Rico Legal Code