807

If at any time the Commissioner finds that the value of assets on deposit by an insurer is less than the amount required pursuant to this Code, he/she shall notify the insurer of such deficiency by registered mail addressed to the insurer at its home office, or at its main office in Puerto Rico, and require that the deficiency be resolved within sixty (60) days from the date of such notice. If said deficiency is not resolved within the term provided herein, it shall be understood that the insurer has failed to comply with an order of the Commissioner and shall be sanctioned as provided by the Commissioner. History —Ins. Code § 8.070; Aug. 4, 2008, No. 155, § 4.