P.R. Laws tit. 7, § 630p
(a) Generally. — Any credit repair agency may relinquish its license through written notice sent to the Commissioner, who shall order and carry out an investigation of the business prior to accepting the relinquishment of the license. If after the investigation it is found that any violation has been incurred, the Commissioner may impose the corresponding penalty pursuant to the provisions in this chapter, as well as suspend or revoke the license.
(b) Due to lack of interest. — After the term for requesting the license renewal set forth in this chapter has elapsed without a renewal application being submitted, it shall be understood as relinquished due to lack of interest and the credit repair agency may not operate or conduct any further business.
History —Aug. 31, 2004, No. 236, §§ 18, 19, eff. 60 days after Aug. 31, 2004.