951n

(1) A nonresident producer shall directly or indirectly solicit insurance in Puerto Rico or be able to inspect risks in Puerto Rico and, pursuant to his/her license, shall place only insurance that has been directly procured from the insured outside of Puerto Rico upon a subject of insurance located or to be executed in Puerto Rico.(2) The nonresident producer may only place insurance upon subjects located or to be executed in Puerto Rico through a resident producer, appointed by the insurer and with an insurer authorized to transact insurance in Puerto Rico. The insurance so transacted shall be deemed, for all purposes, as having been transacted in Puerto Rico.(3) The nonresident producer shall not countersign any policy to cover an insurance object placed, residing or to be executed in Puerto Rico. The countersignature shall be made by a resident producer appointed by the insurer for such a purpose, who shall enter in a register all details of the insurance so transacted, including the name of the nonresident producer. History —Ins. Code, added as § 9.270 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.