P.R. Laws tit. 10, § 2508
(a) Inspections. — Every concessionaire under the provisions of this chapter shall have the obligation of making available to the Commissioner for his/her inspection, the accounting books, records, documents, and any other data that he/she deems necessary to perform his/her supervisory function, and allow the Commissioner or his/her representatives free access to his/her properties, facilities, and operating sites.
Any concessionaire who fails to make such accounts, books, and other documents available to the Commissioner or his/her agents within the term established by the Commissioner, or who does not comply with any order issued by the Commissioner without just cause, may be sanctioned with an administrative fine of not less than one hundred dollars ($100) for each day the concessionaire fails to comply with the requirement and order issued by the Commissioner.
The Commissioner may, at his/her discretion, extend the term granted to comply with an order or requirement, at the request of the concessionaire within the term granted, should the latter prove to have just cause for doing so to the satisfaction of the Commissioner.
(b) Annual reports. — No later than April 15 of each year, each concessionaire shall submit a financial report, under oath of its operations, for the preceding calendar year.
Should a concessionaire have more than one authorized office in Puerto Rico, he/she may submit a consolidated report in lieu of a separate report for each authorized office.
(c) Destruction of books and records. — Any concessionaire may destroy his/her books or records after a term of not less than five (5) years from the date of the last entry on said books or records, or from the date on which any obligation has ceased to be exigible according to the documents in his/her power, with the authorization of the Commissioner.
History —Aug. 11, 1996, No. 119, § 9, renumbered as § 8 and amended on Aug. 12, 1997, No. 73, § 1, eff. 30 days after Aug. 12, 1997.