P.R. Laws tit. 4, § 2142
All sums collected by the Office of the Commissioner of Insurance on account of premiums for the issue of the Notary Bond shall be deposited in a “Special Fund” which shall be used to answer for the proper performance of the duties of the notary’s office and damages caused by his actions or omissions in the exercise of his duties. Furthermore, the Commissioner of Insurance may appropriate that portion of the income that is not reserved to answer for claims and expenses of the Fund to initiatives that benefit lawyers and notaries of Puerto Rico, as provided by the Supreme Court. These initiatives may include:
(1) To establish and maintain a continuing education program for all notaries of Puerto Rico through courses, seminars, lectures, or any other type of educational programs that the Commissioner deems proper.
(2) To coordinate with educational institutions approved by the Supreme Court to provide educational programs for all notaries in Puerto Rico through courses, seminars, lectures, or any other type of educational programs that the Commissioner deems proper.
(3) To provide notaries with legal research services and access to databases or other means that enable a thorough and adequate notarial practice and faithful compliance with the laws that govern the notarial practice.
(4) To sponsor a scholarship program for those distinguished members of the profession, judges of the General Court of Justice, professors, and outstanding law school graduates, so that they may pursue advanced studies to improve the quality of the legal education, the quality of the profession, and the quality of justice.
(5) Any other initiative directed to improving and facilitating the notarial practice in Puerto Rico.
The Commissioner of Insurance is hereby empowered to hire the necessary personnel to advise him on the best way to achieve these purposes, and appoint an advisory council knowledgeable in the matter, for the attainment of these objectives.
History —July 2, 1987, No. 75, p. 242, added as § 79 on July 27, 2011, No. 158, § 4.