P.R. Laws tit. 10, § 641
(a) The Commissioner shall issue a license for the applicant to engage in the pawnbroking business, as requested. The license shall contain the name of the licensee, the street address of the location where the business is to be conducted in Puerto Rico, as well as issuance and expiration date.
(b) One license shall be issued per office. Said license may not be used in a place or business located at an address other than that stated thereon and the same shall be prominently displayed at the pawnshop. Licenses to engage in the pawnbroking business shall not be transferrable and may not be assigned to a person other than that to whom the license was issued for the operation of another pawnshop.
(c) When a licensee wishes to transfer an authorized office to another location or facility, such licensee shall notify the Commissioner in writing, either personally or by certified mail, at least thirty (30) calendar days before the date on which operations begin in the new location. If no objection is received from the Commissioner within twenty (20) business days from the date of the notice of transfer, such transfer shall be deemed to be authorized. In turn, the Commissioner shall send written notice of such change to the Puerto Rico Police Department and the Department of the Treasury within ten (10) business days from the date of receipt of the notice or from the date on which the transfer was deemed to be authorized.
(d) Every holder of a license to operate a pawnbroking business shall begin operations and notify the Commissioner of the exact date thereof within a term not to exceed ninety (90) calendar days after the date on which the Commissioner issued the license. If the licensee is unable to begin operations within the term stated herein, he/she shall request an extension of time and state the reasons therefor to the Commissioner within ten (10) calendar days before the expiration of the established period. If no objection from the Commissioner is received within ten (10) calendar days from the date the extension was requested, the same shall be deemed to be authorized.
The license shall become null if operations do not begin within the term established herein or any extension granted, and the applicant shall resubmit an application as if it were a new case, in accordance with the requirements established in § 637 of this title.
History —Feb. 24, 2011, No. 23, § 9, eff. 60 days after Feb. 24, 2011.