P.R. Laws tit. 10, § 981c
(a) No person may operate a collecting agency in the Commonwealth without having previously obtained a license issued by the Secretary pursuant to this chapter.
(b) A license shall be required for each office established, independently of the fact that more than one office may belong to a same main firm engaged in the business. The Secretary may issue to any person more than one license.
(c) Every license shall fall due on December 31 of each year, unless suspended or revoked by the Secretary or relinquished by the licensee, and it may be renewed upon the previous payment of three hundred dollars ($300) for each license. Any application for a license renewal must be filed not later than December 1 of each year.
(d) The license shall be posted in a conspicuous place on the premises of the authorized business and shall be untransferable.
History —June 27, 1968, No. 143, p. 409, § 4; June 30, 1975, No. 118, p. 356, § 1.