reglab/statecodes huggingface dataset:
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 21 - Uniform Warehouse Receipts Act (§§ 391 — 448) › § 445 - Negotiation of receipt for mortgaged goods

Any person who deposits goods to which he has not title, or upon which there is a lien or mortgage, and who takes for such goods a negotiable receipt which he afterwards negotiates for value with intent to deceive and without disclosing his want of title or the existence of the lien shall be guilty of a crime, and upon conviction shall be punished for each offense by imprisonment not exceeding one (1) year, or by a fine not exceeding one thousand dollars ($1,000), or both.
History —Feb. 21, 1918, No. 9, p. 22, § 55.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 21 - Uniform Warehouse Receipts Act (§§ 391 — 448) › § 446 - Cases not provided for in act

In any case not provided for in this chapter, the rules of law and equity, including the law merchant, and in particular the rules relating to the law of principal and agent and to the effect of fraud, misrepresentation, duress or coercion, mistake, bankruptcy, or other invalidating cause, shall govern.
History —Feb. 21, 1918, No. 9, p. 22, § 56.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 21 - Uniform Warehouse Receipts Act (§§ 391 — 448) › § 447 - Interpretation shall give effect to purpose of uniformity

This chapter shall be so interpreted and constructed as to effectuate its general purpose to make uniform the law of those states and territories which enact it.
History —Feb. 21, 1918, No. 9, p. 22, § 57.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 21 - Uniform Warehouse Receipts Act (§§ 391 — 448) › § 448 - Definitions

(1) In this chapter, unless the context or subject matter requires:
Action. — Includes counterclaim, setoff, and suit in equity.
Delivery. — Means voluntary transfer of possession from one person to another.
Fungible goods. — Means goods of which any unit is, from its nature, or by mercantile custom, treated as the equivalent of any other unit.
Goods. — Means chattels or merchandise in storage, or which has been or is about to be stored.
Holder of a receipt. — Means a person who has both actual possession of such receipt and a right of property therein.
Order. — Means an order by indorsement on the receipt.
Owner. — Does not include mortgagee or pledgee.
Person. — Includes a corporation or partnership or two (2) or more persons having a joint or common interest.
To purchase. — Includes receipt of the thing in pledge.
Purchaser. — Includes pledgee.
Receipt. — Means a warehouse receipt.
Value. — Is any consideration sufficient to support a simple contract. An antecedent or preexisting obligation, whether for money or not, constitutes value where a receipt is taken either in satisfaction thereof or as a security therefor.
Warehouseman. — Means a person lawfully engaged in the business of storing goods for profit.
(2) A thing is done “in good faith” within the meaning of this chapter, when it is in fact done honestly, whether it be done negligently or not.
History —Feb. 21, 1918, No. 9, p. 22, § 58.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 24 - Motor Oil Quality, Classification, and Category Notice Act (§§ 486 — 488) › § 486 - Obligation to notify

Every business or establishment engaged in the distribution or retail sale of motor oil in Puerto Rico shall place a sign containing a warning notice indicating that before the consumer acquires the product, he/she shall verify the vehicle owner’s manual or consult with the distributor of the same or an employee of the establishment who has knowledge of motor vehicle lubricants, as to whether the lubricant specifications meet the specifications of the manufacturer or those of the American Petroleum Institute.
History —Sept. 1, 2006, No. 179, § 2, eff. 120 days after Sept. 1, 2006.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 24 - Motor Oil Quality, Classification, and Category Notice Act (§§ 486 — 488) › § 487 - Approval of regulations

The Department of Consumer Affairs shall be the agency responsible for overseeing compliance with this chapter. Within one hundred and twenty (120) days following the approval of this act, the Department shall promulgate and approve regulations on the requirements of form, size and other specifications of the sign referred to in § 486 of this title.
History —Sept. 1, 2006, No. 179, § 3, eff. 120 days after Sept. 1, 2006.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 24 - Motor Oil Quality, Classification, and Category Notice Act (§§ 486 — 488) › § 488 - Noncompliance

Any business or establishment engaged in the distribution or retail sale of motor oil in Puerto Rico that fails to comply with the provisions of this chapter, shall incur an administrative fault and be subject to an administrative fine which shall not exceed five hundred dollars ($500). The Department is hereby authorized to impose these administrative fines for noncompliance with this chapter or the regulations promulgated thereunder. The sum collected on account of said fines shall be covered into the funds of the Department of Consumer Affairs.
History —Sept. 1, 2006, No. 179, § 4, eff. 120 days after Sept. 1, 2006.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 24A - Biodiesel (§§ 491 — 497) › § 491 - Definitions

For purposes of this chapter, the following phrases shall have the meanings stated hereinbelow:
(1) Pure biodiesel.— A compound made of mono-alkyl esters of long-chain fatty acids derived from vegetable oils or animal fats, designated as B100, and meeting the requirements of the American Society for Testing and Materials” (ASTM) D6751 standard for use in diesel engines. It shall also meet the following requirements:
(a) Be produced or derived from renewable resources alternative to crude oil, including recycled or unused natural lipids such as vegetable oils or animal fats, through esterification, transesterification, or other industrial processes used in the preparation of a complete substitute for petroleum-based diesel;
(b) Meet the Fuels and Fuel Additives Registration requirements set forth by the Environmental Protection Agency (EPA) in accordance with Section 211 of the Clean Air Act of 1995. Pub. L. 84-59, Ch. 360, 69 Stat. 322, as amended;
(c) Be manufactured, prepared, sold, and delivered as a substitute for diesel oil.
(d) meet all technical specifications required under this chapter and any regulations approved by the Energy Affairs Administration.
(2) Biodiesel blended with diesel oil.— The term “biodiesel” also includes blends of pure biodiesel with diesel oil. Such blends shall be designated as “B” followed by the volumetric percentage of pure biodiesel contained in such blend. For example, a blend containing two percent (2%) pure biodiesel and ninety-eight percent (98%) petroleum diesel shall be identified as B2.
Products contained in the aforementioned blends, or the blends per se, shall comply with the specifications of the American Society for Testing and Materials regarding the standards designated D6751, D975, or D7467, as applicable, and with any other standard adopted by the American Society for Testing and Materials regarding products contained in such blends or the blends per se.
History —July 27, 2011, No. 153, § 2.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 24A - Biodiesel (§§ 491 — 497) › § 492 - Sulfur contents

Both pure and blended biodiesel shall not contain sulfur in a proportion that exceeds fifteen (15) parts per million per weight or any other standard adopted on such matter by the corresponding authority.
History —July 27, 2011, No. 153, § 3.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 24A - Biodiesel (§§ 491 — 497) › § 493 - Authorization

No natural or juridical person shall manufacture, import, distribute, store, sell, or deliver diesel’s alternative fuel, known as biodiesel, or any biodiesel blended with diesel oil in Puerto Rico, unless such person has been previously authorized by the Energy Affairs Administration to carry out such activities. In the exercise of its power to authorize any natural or juridical person to manufacture, import, distribute, store, sell, or deliver in Puerto Rico the Energy Affairs Administration may require any information from such natural or juridical person and impose any condition it deems necessary.
History —July 27, 2011, No. 153, § 4.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 24A - Biodiesel (§§ 491 — 497) › § 494 - Report

Any natural or juridical person who elaborates, imports, distributes, stores, sells, or delivers diesel’s alternative fuel, known as biodiesel, in Puerto Rico shall be required to file a written report every six (6) months with the Energy Affairs Administration stating in detail the following:
(a) The amount of biodiesel manufactured, imported, distributed, stored, sold, or delivered by such person within the six (6) months preceding the report.
(b) If such person blended biodiesel with diesel oil within the six (6) months preceding the report, the amount of blended biodiesel and the biodiesel percentage in the final blend resulting from such process.
(c) For pure biodiesel, the result of a random sample analysis conducted at least once during such six (6)-month period, to be compared with the parameters set forth in the standard known as ASTM D6751.
(d) For blended biodiesel, the result of a random sample analysis conducted at least once during such six (6)-month period, to be compared with the requirements set forth in the ASTM D975 standard (for blends of up to B5) and the ASTM D7467 standard (for blends B6 to B20), specifically including, but not limited to the following:
(1) Sulfur content;
(2) aromatic hydrocarbon content;
(3) specific gravity;
(4) gravity per the standards promulgated by the American Petroleum Institute;
(5) cetane number or index;
(6) temperatures at which ten percent (10%), fifty percent (50%), and ninety percent (90%) of fuel resulting from the blending process boiled during distillation.
Any laboratory analysis required by this chapter or the regulations approved thereunder shall be carried out by a fuel laboratory accredited by the National Biodiesel Accreditation Program (BQ-9000) of the National Biodiesel Board’s National Biodiesel Accreditation Commission. The laboratory carrying out the tests shall be independent and completely disassociated with the natural or juridical person required to submit the periodical analysis provided under this chapter and by the regulations thereunder.
The Energy Affairs Administration shall be authorized to require any other information it deems necessary to fulfill the purposes of this chapter.
History —July 27, 2011, No. 153, § 5.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 24A - Biodiesel (§§ 491 — 497) › § 495 - Regulations

The Energy Affairs Administration is hereby empowered to adopt the regulations and administrative guidelines necessary to comply with the provisions of this chapter, including regulations about biodiesel storage and the blending thereof with diesel oil and impose penalties for violations as provided under Act No. 128 of June 29, 1977, as amended. An exception shall be made on the sale price of biodiesel, either pure or blended, at all levels. The Department of Consumer Affairs is hereby empowered to include and regulate the price of biodiesel as a fuel in Price Regulation No. 45, regarding the control of fuel sales prices in Puerto Rico. The Administration and the Department of Consumer Affairs (DACO, Spanish acronym) shall promulgate the regulations described herein within nine (9) months after the approval of this act.
History —July 27, 2011, No. 153, § 6.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 24A - Biodiesel (§§ 491 — 497) › § 496 - Pre-blended biodiesel acquired by agencies

Beginning on Fiscal Year 2011-2012, and as long as the difference between the price of biodiesel B2 and diesel oil does not exceed five percent (5%), all the agencies, instrumentalities, and public corporations of the Government of Puerto Rico shall acquire pre-blended biodiesel B2 in their fuel bids for diesel engines. The Energy Affairs Administration shall provide such agencies, instrumentalities, and public corporations with the necessary guidance to carry out such task.
History —July 27, 2011, No. 153, § 7.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 24A - Biodiesel (§§ 491 — 497) › § 497 - Volumetic content of biodiesel

The Energy Affairs Administration is hereby empowered to provide through regulations for the variation of the required volumetric content of biodiesel in blends of biodiesel with diesel oil and all that pertains thereto. In the exercise of such power, the Energy Affairs Administration may establish more than one volumetric contents of biodiesel in blends with diesel oil manufactured, prepared, imported, distributed, stored, sold, and delivered in Puerto Rico.
History —July 27, 2011, No. 153, § 8.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 519 - License—Obligatory requirement [Repealed]

History —July 18, 1998, No. 138, § 3, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 520 - License—Application [Repealed]

History —July 18, 1998, No. 138, § 4, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 521 - License—Investigation expenses and fee [Repealed]

History —July 18, 1998, No. 138, § 5, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 522 - License—Investigation for granting [Repealed]

History —July 18, 1998, No. 138, § 6, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 523 - License—Fee [Repealed]

History —July 18, 1998, No. 138, § 7; July 8, 2008, No. 121, § 1; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 524 - License—Contents [Repealed]

History —July 18, 1998, No. 138, § 8, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 525 - License—Revocation [Repealed]

History —July 18, 1998, No. 138, § 9, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 526 - License—Suspension [Repealed]

History —July 18, 1998, No. 138, § 10, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 527 - License—Order for revocation [Repealed]

History —July 18, 1998, No. 138, § 11, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 528 - License—Reconsideration [Repealed]

History —July 18, 1998, No. 138, § 12, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 529 - License—Waiver [Repealed]

History —July 18, 1998, No. 138, § 13, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 530 - Persons doing business on the date of approval of this act [Repealed]

History —July 18, 1998, No. 138, § 14, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 531 - Maximum interest rate [Repealed]

History —July 18, 1998, No. 138, § 15, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 532 - Registries [Repealed]

History —July 18, 1998, No. 138, § 16, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 533 - Inspection and examination [Repealed]

History —July 18, 1998, No. 138, § 17, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 534 - Access to the offices of the licensee [Repealed]

History —July 18, 1998, No. 138, § 18, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 535 - Annual report [Repealed]

History —July 18, 1998, No. 138, § 19, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 536 - Duties of the licensee [Repealed]

History —July 18, 1998, No. 138, § 20, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 537 - Interest due [Repealed]

History —July 18, 1998, No. 138, § 21, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 538 - Procedure for the sale of unredeemed pledge [Repealed]

History —July 18, 1998, No. 138, § 22, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 539 - Loss of borrower’s receipt [Repealed]

History —July 18, 1998, No. 138, § 23, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 540 - Search warrant [Repealed]

History —July 18, 1998, No. 138, § 24; Aug. 13, 2008, No. 273, § 1; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 541 - Rules and regulations [Repealed]

History —July 18, 1998, No. 138, § 25; May 31, 2004, No. 126, § 1; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 542 - Review [Repealed]

History —July 18, 1998, No. 138, § 26, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 543 - Powers of the Commissioner [Repealed]

History —July 18, 1998, No. 138, § 27, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 544 - Administrative fines [Repealed]

History —July 18, 1998, No. 138, § 28, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 25A - Pawnshop Regulatory Act (§§ 518-545 — 545) › § 545 - Penalties [Repealed]

History —July 18, 1998, No. 138, § 29, eff. 60 days after July 18, 1998; Repealed. Act.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 635 - Applicability

This chapter shall apply to any person engaged in the pawnbroking business.
Any person who, at the time of approval of this chapter, is operating a pawnbroking business authorized by Act No. 138 of July 18, 1998, as amended, may continue operating the same under the provisions of such act. However, he/she shall file a renewal application pursuant to the provisions and requirements established in this chapter and the regulations approved thereunder.
No person shall engage in a pawnbroking business in Puerto Rico without first obtaining a valid license issued by the Commissioner as provided below in this chapter.
History —Feb. 24, 2011, No. 23, § 3, eff. 60 days after Feb. 24, 2011.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 636 - License—Requirement

In order to obtain a license to engage in the pawnbroking business under this chapter, petitioners or their partners, directors, and executive officers shall:
(a) Have a net worth of at least ten thousand dollars ($10,000) calculated according to generally accepted accounting principles;
(b) have liquid assets valued at no less than five thousand dollars ($5,000) available for the business at the specific location;
(c) maintain an appropriate space available and equipped for conducting the business;
(d) file a license application with the OCFI, together with the corresponding bond, pursuant to §§ 637 and 638 of this title;
(e) include a negative criminal record certificate issued by the Puerto Rico Police not more than sixty (60) days in advance, as well as two (2) 2 x 2 photographs when filing the aforesaid application;
(f) include with the aforesaid application, three (3) sworn statements from three (3) persons who have no relation within the third degree of consanguinity or the second degree of affinity and are not employed by the petitioner, testifying, under penalty of perjury, that the petitioner enjoys a good reputation in his/her community, that he/she is not considered prone to commit criminal acts, including but not limited to fraud, and that to the best of their knowledge, he/she is emotionally capable of operating a pawnbroking business;
(g) include certified copies of the income tax returns for the last five (5) years, and
(h) meet any other requirement provided by the OCFI through regulations, circular letter, or other general determination or administrative communication.
History —Feb. 24, 2011, No. 23, § 4, eff. 60 days after Feb. 24, 2011.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 638 - License—Bond

(a) Every applicant for a license to operate a pawnbroking business shall include with the application, and maintain, a bond to guarantee faithful compliance with the provisions of this chapter and the rules or regulations that may be adopted thereunder. The Commissioner shall prescribe through regulations the terms and conditions that he/she deems should be contained in the bond in order to protect the public interest. Said bond shall respond to any person, including the OCFI, and shall be in an amount of at least ten thousand dollars ($10,000) to guarantee that he/she shall fully meet his/her obligations during the business' operation. However, the Commissioner may require a bond in excess of ten thousand dollars ($10,000) and up to a maximum of one hundred thousand dollars ($100,000) based on the licensee's volume of business and financial situation. The bond shall be renewed on a yearly basis and either personally submitted or sent by certified mail to the OCFI.
History —Feb. 24, 2011, No. 23, § 6, eff. 60 days after Feb. 24, 2011.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 639 - License—Return of the application

(a) Upon receipt of the license application, the Commissioner shall verify the same and may return it to the applicant if any of the following reasons, but not limited thereto, are evident on its face:
(1) The application was not filed in its entirety pursuant to the provisions of this chapter or the regulations that may be promulgated thereunder, and
(2) the application lacks sufficient information or documentation as required by this chapter or regulations.
(b) If the Commissioner returns a license application, the amount paid on account of investigation and license fees shall be refunded to the applicant.
History —Feb. 24, 2011, No. 23, § 7, eff. 60 days after Feb. 24, 2011.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 640 - License—Denial

(a) After analyzing an application for a license to engage in the pawnbroking business, and after conducting the corresponding investigation, the Commissioner may deny the license for any cause in order to protect the public interest, such as:
(1) The applicant has failed to meet any of the requirements established in this chapter or the regulations prescribed thereunder;
(2) the officers or persons responsible for daily operations lack experience, financial or commercial abilities, or their moral reputation disqualifies them to conduct the business in a way that benefits the public interest;
(3) the Commissioner adjudicated a claim against the applicant whose motives are sufficient cause to believe that the applicant is unable to adequately operate the business;
(4) The applicant has been convicted of a felony or misdemeanor against the property or involving bribery or perjury, as defined in §§ 5001 et seq. of Title 33, known as the “Puerto Rico Penal Code”; or the applicant has been the subject of an Order issued by the Commissioner for conducting or having conducted a pawnbroking business without the required license; or the applicant has been convicted of violations of § 5262 of Title 33, “Receiving, Disposal, and Transfer of Stolen Goods”; and
(5) the applicant has collected amounts greater than the authorized interest and charges for money lent on the security of pledge.
(b) Applicants to whom a license to engage in the pawnbroking business has been denied may request reconsideration to the Commissioner within twenty (20) days following the notice of denial.
(c) If the Commissioner denies a license, the amount paid on account of investigation costs shall be withheld by the Commissioner, but the amount paid on account of license fees shall be refunded to the applicant.
History —Feb. 24, 2011, No. 23, § 8, eff. 60 days after Feb. 24, 2011; Dec. 16, 2014, No. 209, § 2, eff. 60 days after Dec. 16, 2014.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 641 - License—Issuance

(a) The Commissioner shall issue a license for the applicant to engage in the pawnbroking business, as requested. The license shall contain the name of the licensee, the street address of the location where the business is to be conducted in Puerto Rico, as well as issuance and expiration date.
(b) One license shall be issued per office. Said license may not be used in a place or business located at an address other than that stated thereon and the same shall be prominently displayed at the pawnshop. Licenses to engage in the pawnbroking business shall not be transferrable and may not be assigned to a person other than that to whom the license was issued for the operation of another pawnshop.
(c) When a licensee wishes to transfer an authorized office to another location or facility, such licensee shall notify the Commissioner in writing, either personally or by certified mail, at least thirty (30) calendar days before the date on which operations begin in the new location. If no objection is received from the Commissioner within twenty (20) business days from the date of the notice of transfer, such transfer shall be deemed to be authorized. In turn, the Commissioner shall send written notice of such change to the Puerto Rico Police Department and the Department of the Treasury within ten (10) business days from the date of receipt of the notice or from the date on which the transfer was deemed to be authorized.
(d) Every holder of a license to operate a pawnbroking business shall begin operations and notify the Commissioner of the exact date thereof within a term not to exceed ninety (90) calendar days after the date on which the Commissioner issued the license. If the licensee is unable to begin operations within the term stated herein, he/she shall request an extension of time and state the reasons therefor to the Commissioner within ten (10) calendar days before the expiration of the established period. If no objection from the Commissioner is received within ten (10) calendar days from the date the extension was requested, the same shall be deemed to be authorized.
The license shall become null if operations do not begin within the term established herein or any extension granted, and the applicant shall resubmit an application as if it were a new case, in accordance with the requirements established in § 637 of this title.
History —Feb. 24, 2011, No. 23, § 9, eff. 60 days after Feb. 24, 2011.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 642 - License—Renewal

(a) Each license shall be valid until its expiration, which shall be at the end of each calendar year.
(b) Every applicant shall file an application to renew the license, as provided by the OCFI, on or before December 1 of every year. Such application shall contain all the information required by the Commissioner by law or regulations.
(c) The renewal application shall contain a manager’s or certified check, bank draft, or money order payable to the Secretary of the Treasury in the amount of one thousand dollars ($1,000) for each office on account of license fees.
(d) The applicant shall not have any pending debts with the OCFI at the time of filing the renewal application. Should there be any debts, full payment by a certified or manager’s check, bank draft, or money order payable to the Secretary of the Treasury shall be included therewith.
(e) The Commissioner may extend the term for renewal of a license at the applicant’s request prior to the expiration of the renewal term by filing a sworn statement including the reasons that impair the applicant to meet with such renewal term.
(f) If the licensee fails to file his/her renewal application or pay the applicable fees within the established term, it shall be understood that he/she has surrendered the license to operate a pawnbroking business and may not continue operating such business.
(g) The Commissioner shall summon the person who has surrendered a license to a meeting wherein the latter shall be required to turn in the license and pay for any outstanding debt at the OCFI.
History —Feb. 24, 2011, No. 23, § 10, eff. 60 days after Feb. 24, 2011.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 643 - License—Surrender, revocation, cancellation, or suspension

(a) Any licensee may surrender his/her license by filing a written notification with the Commissioner.
(b) The Commissioner may revoke, cancel, or suspend any license due to any violation of this chapter or the rules and regulations that may be promulgated thereunder, or upon finding that a condition exists that, had it existed or had it been known when the license was issued, would have justified the refusal to issue a license.
The revocation, cancellation, or suspension process shall be carried out in accordance with the power and authority conferred by §§ 2001 et seq. of Title 7, known as the “Financial Institutions Commissioner's Office Act”, and §§ 2101 et seq. of Title 3, known as the “Commonwealth of Puerto Rico Uniform Administrative Procedures Act”.
(c) The surrender, revocation, cancellation, or suspension of a license shall not impair or affect the obligation of any existing lawful contract between the licensee and other persons, nor shall the state be held responsible with respect to third parties as a result of its power to revoke, cancel, or suspend a license.
Notwithstanding § 642 of this title, a licensee shall have his/her license revoked immediately in the following instances:
(1) If he/she has been convicted of a felony or misdemeanor against the property, or involving bribery or perjury, as defined in §§ 4629 et seq. of Title 33.
(2) If pledged good, as provided in § 642 of this title, is sold.
(3) If the licensee or any employee of the pawnshop prevents or limits the Commissioner, his/her representative, or a law enforcement officer empowered by this chapter from performing inspections or examinations. In the absence of the owner or the person in charge, said licensee shall have a qualified and authorized employee to assist in inspections and examinations, and who shall allow access to all documents, files, and computers.
(d) Under the circumstances specified in subsection (b) of this section, the licensee shall have the opportunity to request a hearing before the Commissioner within twenty (20) calendar days from the revocation of the license.
(e) In all those cases in which the revocation arose from the intervention of any law enforcement officer and the licensee requests a hearing to appeal the same, the Commissioner shall summon the public officer whose investigation resulted in the revocation of the license as an interested party.
(f) Regarding the provisions established in this section, if the Commissioner upholds the revocation of the License after the hearing has been held, the licensee shall follow the reconsideration process set forth by law.
History —Feb. 24, 2011, No. 23, § 11, eff. 60 days after Feb. 24, 2011.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 644 - Interest rates and service charges

(a) Interest rates.— In a pawn loan transaction, the interest rate shall not be less than five percent (5%) for a thirty (30)-day period, or more than twenty percent (20%) for a thirty (30)-day period, as agreed by the parties, subject to the provisions herein. The interest rate applicable to pawn loans shall be collected during the initial thirty (30)-day period as agreed, regardless of when the pledged good is redeemed, and shall be expressed based on an annual percentage rate (APR) in every agreement, application, account statement, report, mail, or related promotional material. Interests shall be calculated using the simple interest formula, whereby interest charge is calculated based on the loan balance, except with regards to the calculation of the initial thirty (30)-day period of the loan, as provided above. For purposes of the APR disclosures, interest shall be calculated as follows:
Monthly interest x (12 months)
(b) Service charges.— The licensee may only charge and collect additional charges on account of care, safekeeping, and storage of the pledged goods, which shall not exceed one dollar ($1.00) per each pawn loan agreement. No additional interest shall be collected on past due interest. In the case of pledged goods requiring special care, there may be collected a five dollar ($5) monthly charge provided that the reasons for which such special care is required is thus justified.
No additional interest or fees, either by discount or otherwise, shall be imposed in advanced.
History —Feb. 24, 2011, No. 23, § 12, eff. 60 days after Feb. 24, 2011; Dec. 16, 2014, No. 209, § 3, eff. 60 days after Dec. 16, 2014.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 645 - Term of the pawn loan

The maturity date of any pawn loan shall be thirty (30) days; however, such maturity date may be extended by agreement between the pledgor and the licensee. Each extension shall be evidenced in writing, clearly indicating the new maturity date, as well as the interest and service charges due on the extension date. The licensee shall supply the pledgor with a copy of said agreement. Any term granted for the repayment of a pawn loan exceeding the original thirty (30)-day period shall be considered an extension, as said such term is used in this section, rather than a new loan agreement. In the case of an extension of the pawn loan, the daily interest rate and service charge for the pawn loan during the extension period shall be equal to the interest rate and service charge of the original pawn loan for the original period divided by thirty (30) days (in other words, one-thirtieth (1/30) of the original total service charge and the interest rate of the pawn loan) multiplied by the number of days elapsed. The number of extensions to be agreed upon by the parties shall not exceed fifteen (15) months, but the licensee shall allow pledged goods to be redeemed before the extension period.
In the case of extensions, the agreement shall provide that the payment of the principal, interest, and service charges shall be made under the same terms and at the same interest rate originally agreed upon and, that extra payments may be applied to the principal.
Notwithstanding the foregoing, and as an alternative to a thirty (30)-day pawn loan and extensions thereof, the licensee and the pledgor may agree on a deferred payment agreement, which provides that the payment of principal, interest, and additional fees allowed by this chapter may be made at equal time intervals and amortized in equal amounts. In such cases, the principal obligation shall be deemed to be due and payable when two (2) interest and additional fee installments have become due and payable. The licensee may sell a pledged good after the obligation has become due and payable, subject to the provisions of this chapter.
History —Feb. 24, 2011, No. 23, § 13, eff. 60 days after Feb. 24, 2011; Dec. 16, 2014, No. 209, § 4, eff. 60 days after Dec. 16, 2014.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 646 - Redemption and sale of pledged goods

(a) The total amount of interest and service charges that a licensee may collect in the case of pledged goods redeemed within thirty (30) days from the date of the pawn loan shall be the amount established in § 644 of this title. The total amount of interest and service charges that a licensee may collect in the case of pledged goods redemption occurring at any time over thirty (30) days after the original date of the pawn loan shall be equal to the interest and service charge of the pawn loan for the original period divided by thirty (30) days (in other words, one-thirtieth (1/30) of the original total service charge and the interest rate of the pawn loan) multiplied by the number of days elapsed. Any service charge paid in advance by the pledgor in excess of the charge determined pursuant to this Section, shall be refunded to the pledgor by the licensee.
(b) If a pawn loan is not satisfied on the maturity date thereof, taking into account any extension period agreed upon pursuant to § 645 of this title, the licensee shall hold the pledged goods for at least thirty (30) days from the maturity date of the pawn loan. Once said thirty (30) days have elapsed, pledged goods shall be forfeited to the licensee, unless the parties had agreed otherwise, and absolute title to the pledged goods shall be conveyed to the licensee by operation of law, and no further notice to the pledgor shall be necessary, and the licensee may sell the unredeemed good, and the pledger shall have no right to redeem, provided, that no investigation is in process over such good by a law enforcement agency.
History —Feb. 24, 2011, No. 23, § 14, eff. 60 days after Feb. 24, 2011; Dec. 16, 2014, No. 209, § 5, eff. 60 days after Dec. 16, 2014.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 647 - Loss of ticket

If the pawn ticket of the pledged good is lost or stolen, the pledgor must immediately notify the pawnbroker and the pledged good may be redeemed by verifying the identifying details that appear on the pawn ticket and the records with the person who claims to be the owner of the pledged good. The identification must be issued by a public agency of the Government of Puerto Rico or the federal government and have a current photograph at the time of the transaction. The identification number shall be written on the pawn ticket. A written statement shall be made to such effect. On such written statement shall be recorded that the person is the same who pledged the good in question, and the address, place of work, and personal and business telephone numbers of the pledgor.
History —Feb. 24, 2011, No. 23, § 15, eff. 60 days after Feb. 24, 2011.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 648 - Destruction of records or files

Except as otherwise ordered by court or requested by the Commissioner, a licensee may destroy his/her records, files, or documents five (5) years after: the last entry in said records, files or documents; the date on which any obligation ceased to be due; or an audit by the OCFI, whichever is later. All licensees shall keep a register of records, files, or documents destroyed pursuant to the rules or regulations established by the Commissioner.
History —Feb. 24, 2011, No. 23, § 16, eff. 60 days after Feb. 24, 2011.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 653 - Rulemaking authority

The Commissioner of Financial Institutions shall promulgate regulations to implement the provisions of this act within sixty (60) days after approval thereof without being subject to §§ 2101 et seq. of Title 3.
History —Feb. 24, 2011, No. 23, § 21, eff. 60 days after Feb. 24, 2011.
2023 Laws of Puerto Rico › TITLE TEN - Commerce (§§ 1 — 4196) › Subtitle 1 - Regulation of Business Generally (§§ 1 — 998q) › Chapter 32 - Pawnbroking Business and Operations Regulatory Act (§§ 634 — 654) › § 654 - Penalties

The Commissioner is hereby authorized to:
(a) Impose and collect administrative fines, which shall not be less than one hundred dollars ($100) or more than one thousand dollars ($1,000), for each violation of the provisions of this chapter or the provisions contained in the rules and regulations promulgated thereunder.
(b) Order restitution or reimbursement of payments received in contravention of the provisions of this chapter or any rules or regulations promulgated thereunder, or any other remedy that he/she may deem necessary to achieve the purposes of this chapter.
(c) Impose and collect administrative fines, which shall not be less than one hundred dollars ($100) or more than five thousand dollars ($5,000), for each day the person engaged in a pawnbroking business fails to meet the requirements or orders of the Commissioner.
(d) In addition to the imposition of authorized administrative fines pursuant to the previous subsections, the Commissioner or his/her representatives may initiate the corresponding judicial action against the person who committed such violation when the nature of the violation of this chapter, the rules or regulations, or the resolutions issued by the Commissioner so justify.
Any natural or juridical person who violates the provisions of this chapter, the rules and regulations, or the orders and resolutions issued by the Commissioner shall be guilty of a misdemeanor and, upon conviction, shall be subject to an individual fine, which shall be no less than one hundred dollars ($100) or more than five thousand dollars ($5,000), or imprisonment for a term of up to six (6) months or both, at the discretion of the court. Each transaction conducted in violation of the aforesaid provisions shall constitute a separate infraction and be punishable as such. If said conduct constitutes a felony under the Penal Code of Puerto Rico or any other special act, the perpetrator shall be processed for such felony.
(e) In addition to the penalties established in this chapter, the Commissioner may impose an additional fine equivalent to the total price of the pledged good and sold in violation of the provisions of this chapter, minus the balance of the amount received on loan; or order the return of the pledged good in the conditions in which it was brought in.
History —Feb. 24, 2011, No. 23, § 22, eff. 60 days after Feb. 24, 2011.