P.R. Laws tit. 4, § 2011
Only those presently authorized to practice the notarial profession and those attorneys who in the future are admitted to practice the profession and who thereafter are authorized to practice as notaries by the Supreme Court of Puerto Rico, may practice the notarial profession in the Commonwealth of Puerto Rico.
Every notary shall pledge an oath of fidelity to the Constitution of the United States of America and the Constitution and Laws of the Commonwealth of Puerto Rico before beginning the practice of his/her office.
No person authorized to practice the profession of notary in Puerto Rico may practice it without having posted and keeping in effect a bond for a sum of not less than fifteen thousand dollars ($15,000) to answer for the proper performance of the functions of his/her office and damages caused by his/her actions or omissions in the exercise of his/her duties. This bond’s limit does not impair the rights of the Commonwealth of Puerto Rico nor of natural or juridical persons under the provisions of § 5141 of Title 31 or under any other legal or jurisprudential provision. The notary’s surety shall be a mortgage bond, or posted by an insurance company authorized to do business in Puerto Rico, or by the Office of the Commissioner of Insurance, which is hereby authorized to charge the amount it deems reasonable for posting that surety as provided in the act.
The surety bond must be renewed annually and approved by the Supreme Court of Puerto Rico which shall review its sufficiency with regard to the mortgages, which shall be registered in the corresponding property registry office before its final approval.
The bond shall have preferent liability for the sums that the notary fails to deposit in the public treasury on account of Internal Revenue, notarial, Legal Aid Society, and other legally required stamps, for binding of protocols and any other necessary expense incurred as indicated by the Director of Notarial Inspection in order to carry out the inspection of notaries and their approval. Once the expenses are established, the Director of Notarial Inspection may proceed against the bond directly to pay the obligations.
If the claimant is adjudicated all or part of the bond in a judicial claim against the notary, he/she shall not continue to practice until a new bond is posted.
History —July 2, 1987, No. 75, p 243, § 7; Dec. 13, 2007, No. 196, § 2; Oct. 13, 2009, No. 121, § 8; July 27, 2011, No. 158, § 2; Jan. 4, 2012, No. 6, § 1.