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806 — Puerto Rico Law | CourtGPT
  1. Home/
  2. Laws/
  3. Puerto Rico/
  4. Title Twenty-six - Insurance (§§ 101 — 10377)/
  5. Subtitle 1 - Insurance Generally/
  6. Chapter 8 - Administration of Deposits § 801 - Insurers’ Deposits/
  7. 806
Puerto Rico Legal Code

806

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An insurer may so deposit eligible securities in an amount exceeding its required deposit under this title by not more than one hundred thousand dollars ($100,000), for the purpose of absorbing fluctuations in the value of securities held in its required deposit, and to facilitate the exchange and substitution of securities deposited. During the solvency of the insurer any such excess deposit or part thereof shall be released to the insurer upon its request. During the insolvency of the insurer such excess deposit shall be released only as provided in § 808 of this title. History —Ins. Code § 8.060.