P.R. Laws tit. 10, § 2504
(a) Contents of the application. — The application for a license to engage in the “check-cashing business” shall be completed under oath and be filed at the Office of the Commissioner. The same shall state the full name of the applicant and the address of the main business office in Puerto Rico in which its accounting books and all documents concerning its operations shall be kept. It shall also contain any information required by the Commissioner, on the forms prescribed for such purposes, including the identity and address of each of the directors and officials if the applicant is a corporation, and of the partners, if the applicant is a partnership, in order to conduct the inspections provided in § 2505 of this title.
(b) License and inspection fees. — Upon submitting the license application, the applicant shall pay two hundred and fifty dollars ($250) for the first office, and an equal amount for each additional office. This fee shall be the same regardless of the date on which it is applied for in its calendar year.
(c) Municipal license fees. — For the purposes of this chapter, to determine the amount of the municipal license fee, the check-cashing business is deemed to be a rendering of services, and therefore, not financial.
History —Aug. 11, 1996, No. 119, § 5; Aug. 12, 1997, No. 73, § 1, eff. 30 days after Aug. 12, 1997.