P.R. Laws tit. 10, § 996c
(a) Application and license fees .—The application for the issuance of a license shall be made under oath. It shall state the address where the main office of the business shall be established and shall also contain the information required by the Commissioner, including the identification of each applicant, in order to provide the grounds for the investigations provided in § 996d of this title.
Upon filing the application, the applicant shall pay five hundred dollars ($500) to the Commissioner as an examination fee and five hundred dollars ($500) for the annual license provided in § 996e of this title, for the current calendar year, in a certified check payable to the Secretary of the Treasury. If the license is issued after June 30 of any year, the annual fee shall be two hundred and fifty dollars ($250) for that year.
(b) Resident agent.—Every grantee shall file with the Commissioner a written appointment of a resident of Puerto Rico with the name, business, residential and mailing addresses, as his agent for the service of any judicial proceeding or other proceeding or legal notice, unless the grantee has appointed another agent for these purposes under any other law of Puerto Rico, in which case the grantee shall submit to the Commissioner, the name, business, residential and mailing addresses of said agent.
History —May 8, 1973, No. 20, p. 71, § 4; July 23, 1974, No. 135, Part 1, p. 634, § 2; July 2, 1987, No. 91, p. 355, § 3.