A license as adjuster shall not be issued or allowed to exist to any person who does not meet the following requirements:(1) To be of legal age and have completed high school or its equivalent.(2) To be and to have been a bona fide resident of Puerto Rico for at least one (1) year immediately prior to the date on which he/she applies for the license.(3) To be trustworthy and competent.(4) To pass any examination required under § 950a of this title.(5) To have posted by bond required by § 952a of this title, if for a license as public adjuster.(6) To satisfactorily demonstrate that he/she has met those reasonable continuing education requirements adopted by the Commissioner through rule or regulation.(7) Shall not be a stockholder, member, partner, director, official, representative or employee of any producer authorized to conduct business or who is conducting business in Puerto Rico nor to have an economic or financial interest or a contractual relationship in the field of insurance with a producer authorized to conduct business or who is conducting business in Puerto Rico.(8) Shall not be a stockholder, member, partner, director, official, representative or employee of any other ith a producer authorized to conduct business or who is conducting business in Puerto Rico.(8) Shall not be a stockholder, member, partner, director, official, representative or employee of any other adjuster authorized to conduct business or who is conducting business in Puerto Rico nor to have an economic or financial interest or a contractual relationship in the field of insurance with an adjuster authorized to conduct business or who is conducting business in Puerto Rico. History —Ins. Code, added as § 9.290 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
Puerto Rico Legal Code