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PC 573

Para enmendar el Art. 2.010 de la Ley Núm. 77 de 19 de junio de 1957, según enmendada, conocida como “Código de Seguros de Puerto Rico”, para que disponga que el Comisionado de Seguros de Puerto Rico ocupará dicho cargo por un término de cinco años, mientras cuente con la confianza del Gobernador; asimismo, que el Gobernador podrá relevar del cargo al Comisionado en caso de que este deje de gozar de su confianza; y para otros fines relacionados.

2025-2028 Session

PC 573 establishes a five-year term for Puerto Rico's Insurance Commissioner, tied to the Governor's confidence, with removal power if confidence is lost.

Referido a Comisión(es)
0
WeVote Research Nonpartisan
Bill Summary · PC 573

PC 573 — Summary

Overview

PC 573 proposes an amendment to Article 2.010 of Law Num. 77 (1957), as amended, known as the Puerto Rico Insurance Code. The core change would set the Insurance Commissioner’s term at five years, contingent on maintaining the Governor’s confidence. The Governor would have authority to remove the Commissioner if confidence is lost. The bill is currently referred to committees.

  • Title (in Spanish): Para enmendar el Art. 2.010 de la Ley Núm. 77 de 19 de junio de 1957, según enmendada, conocida como “Código de Seguros de Puerto Rico”
  • Introduced: May 1, 2025
  • Status: Referido a Comisión(es)
  • Legislative actions: First Reading (May 5, 2025); Referido to commission(es) (May 5, 2025); Filed/Radiated (May 1, 2025)

What the bill does (Key Provisions)

  • Amends Article 2.010 of the Puerto Rico Insurance Code to:
    • Establish a five-year term for the Insurance Commissioner, contingent on continued confidence from the Governor.
    • Authorize the Governor to remove the Insurance Commissioner if confidence is lost.
    • Include “para otros fines relacionados” (for other related purposes) — indicating accompanying changes or clarifications may accompany the main provision.
  • The amendment ties the tenure of the Insurance Commissioner to the Governor’s confidence rather than an indeterminate or fixed non-evictable term.

Who is affected

  • Primary: The Insurance Commissioner of Puerto Rico (Comisionado de Seguros de Puerto Rico).
  • Governor of Puerto Rico (as the appointing/removing authority regarding confidence).
  • Potentially the Puerto Rico Department of Insurance and entities regulated by the Insurance Code, as governance and oversight could shift with changes in tenure/removal procedures.
  • Public/regulated entities and insured individuals may be affected indirectly through consistency and accountability in insurance regulation.

Procedural and timeline aspects

  • Introduced: May 1, 2025.
  • First Reading: May 5, 2025.
  • Referido to Commission(es): May 5, 2025.
  • Status: The bill is at the committee stage; no floor action or final passage noted in the provided information.
  • Timelines beyond reception and committee consideration are not specified in the current summary.

Potential implications and questions

  • The five-year term linked to the Governor’s confidence introduces a defined tenure with potential for renewal contingent on political confidence.
  • The removal provision gives the Governor a mechanism to replace the Commissioner if confidence is lost; this could impact independence and stability of regulatory leadership.
  • Details not specified in the available information include: transition rules for current officeholders, criteria or process for assessing “confidence,” and whether terms are renewable or non-renewable.
  • Implementation details and any fiscal impact would likely be addressed in committee discussions or accompanying fiscal notes.

Bottom line

PC 573 seeks to formalize a five-year term for the Puerto Rico Insurance Commissioner conditioned on the Governor’s confidence, with removal authority vested in the Governor if such confidence wanes. The bill is in early committee stages and awaiting further action.

Compiled from official sources — confirm details with the bill’s official record.

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