U.S. District Court Rejects Puerto Rico's Appeal; Another Council Countersignature Victory Is Affirmed

Summary

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SAN JUAN, Puerto Rico, April 3 /U.S. Newswire/ -- The U.S. Court of Appeals for the First Circuit has refused to overturn a ruling striking down Puerto Rico's controversial countersignature law that required non-resident commercial insurance brokers to have the countersignature of a Puerto Rico resident agent before they could do business on the island.

The decision brings The Council of Insurance Agents & Brokers a step closer to the successful completion of a decades-long battle to eliminate all countersignature statutes on the books.

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Extract

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U.S. District Court Rejects Puerto Rico's Appeal; Another Council Countersignature Victory Is Affirmed

The decision in Puerto Rico is not yet final because the Commonwealth still has 90 days to seek a Supreme Court review of the ruling. Although it is unlikely the Supreme Court will accept the case for review, agents and brokers should...

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