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950d — 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 9a - Producer, Authorized Representative, Solicitor, General Agent, Adjuster and Insurance Consultant § 949 - Statement of Purpose/
  7. 950d
Puerto Rico Legal Code

950d

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The Commissioner shall issue the licenses applied for to eligible persons under this chapter, providing evidence thereof in the form of a certificate or of an identification card.Licenses shall be issued for a term of two (2) years and may be renewed for additional periods pursuant to § 953b of this title. However, in the case of a license issued to a new applicant, the Commissioner may issue a license for a term greater than two (2) years, subject to the payment of the corresponding fees, prorated for the term in excess of two (2) years; Provided, That the effective term of a license thus issued shall in no case exceed thirty (30) months. History —Ins. Code, added as § 9.140 on Jan. 19, 2006, No. 10, § 8; Dec. 28, 2010, No. 220, § 5.