P.R. Laws tit. 7, § 2021
(a) A special fund is hereby created, to be known as the “Fund for Consumer Education in Financial Matters and Training of the Personnel of the Office of the Commissioner of Financial Institutions”, in order to provide financial assistance geared toward the education of the general public in financial matters and to train the personnel of the Office of the Commissioner of Financial Institutions for the purposes provided herein.
(b) The Commissioner may, in his discretion, engage in any effort he believes shall contribute to a better orientation and education of consumers in their dealings with the financial industry and use such funds for purposes, among others, such as providing resources to such entities, divisions and/or programs that aim to accomplish the purposes established under this Fund, as well as covering the operating expenses entailed by the administration thereof. Provided, That for Fiscal Year 2016-2017, the sum of one million dollars ($1,000,000) shall be transferred from account 0750000-238-781-1998 or any other account created for the same purposes in the Department of the Treasury’s accounting system to the “Elections Support Fund”.
(c) All moneys received by the Commissioner on account of the imposition of administrative fines for violations of the provisions of this chapter, as well as of the laws and regulations administered by the Commissioner, may be deposited into this Fund. Likewise, any fines imposed by the Commissioner on account of voluntary agreements or administrative orders, may also be covered into this Fund.
History —Oct. 11, 1985, No. 4, p. 857, added as § 21 on June 2, 2009, No. 23, § 1; July 22, 2016, No. 81, § 9.