P.R. Laws tit. 14, § 3524
(a) No corporation created under this subtitle shall, by inference or interpretation, be deemed empowered to issue bills of exchange, notes or other titles for circulation as legal tender; or to deal in the receipt of money deposits, or foreign currency.
(b) Corporations created or to be created in accordance with the provisions of this subtitle, or created in accordance with the provisions of any prior general corporations law of the Commonwealth of Puerto Rico, shall not be deemed to be engaged in the banking business, if they have been created with the purpose of buying, selling or otherwise dealing with notes, checking account credits or other similar titles; or for the purposes of lending money accepting notes, checking account credits or other titles, as collateral.
History —Dec. 16, 2009, No. 164, § 2.04.