P.R. Laws tit. 10, § 773
According to the provisions of §§ 2101 et seq. of Title 3, known as the “Uniform Administrative Procedures Act of the Commonwealth of Puerto Rico”, the Commissioner shall have the power to approve, review, amend, suspend and revoke regulations:
(1) To prescribe the kinds of insurance permitted in retail installment sales, which may vary according to the type of goods or services involved in the sale.
(2) To refund insurance premiums in the case of advance payments of contracts and the cancellation of insurance policies.
(3) To establish the charges for extending or deferring the contract and the manner for computing the same.
(4) To establish, fix, regulate, increase, reduce or leave to free enterprise the charges, other than [finance] or interest rate charges, that may be collected under the contracts as well as under the revolving account plan.
(5) To establish the charges for any other items derived from the retail installment purchase of goods or services or the acquisition of the retail installment sales contract or interest thereon.
(6) To determine the information to be contained in the statements of account sent every month under a revolving account plan.
(b) [Repealed. Act Aug. 15, 1999, No. 258, § 8, eff. 30 days after Aug. 15, 1999.]
(c) [Repealed. Act Aug. 15, 1999, No. 258, § 8, eff. 30 days after Aug. 15, 1999.]
History —June 19, 1964, No. 68, p. 192, § 403; May 14, 1968, No. 43, p. 66, § 4; May 31, 1972, No. 78, p. 171, § 16; Mar. 4, 1976, No. 9, p. 20, § 3; Aug. 17, 1989, No. 69, p. 301, § 9; renumbered as § 501 and amended on Dec. 23, 1998, No. 310, § 17; Aug. 15, 1999, No. 258, § 8, eff. 30 days after Aug. 15, 1999.