P.R. Laws tit. 7, § 3056a
(a) The Commissioner may conduct examinations or audits of a licensee’s operations at his/her office. The Commissioner may also conduct special examinations whenever necessary in his/her judgment.
(b) Every financial institution licensed under this chapter shall be required to make accounting books, files, records, documents, and any other data deemed necessary available for examination by the Commissioner. Furthermore, it shall allow the Commissioner or his/her representative free access to its properties, offices, and operation sites to carry out these tasks.
(c) The Commissioner shall impose an inspection fee of two hundred dollars ($200) per day or fraction thereof for each inspector or investigator that participates in each inspection, plus any transportation, per diem, and lodging expenses incurred by the same, according to the rules established for officials and employees of the Government of Puerto Rico. The same shall be paid immediately through manager’s or certified check or bank or postal money order drawn to the name of the Secretary of the Treasury.
(d) Should the Commissioner deem it necessary, an inspection may be conducted outside of Puerto Rico; in such case, the licensee shall pay the inspection fee established in subsection (c) of this Section, plus all other reasonable expenses incurred in said inspection, including lodging and transportation expenses.
History —Dec. 30, 2010, No. 247, § 6.2, eff. 120 days after Dec. 30, 2010.