P.R. Laws tit. 10, § 2511
No concessionaire subject to the provisions of this chapter shall:
(1) Grant loans or credit, deduct negotiable instruments or other debt instruments, or engage in any activity allowed solely to banks under §§ 1 et seq. of Title 7.
(2) Engage in his/her cash-checking business in an establishment where small personal loans are granted.
(3) Cash or [provide an] advance cash in exchange for post-dated checks. This prohibition notwithstanding, any concessionaire may cash or pay a check that is payable on the next working day following the date the same was cashed or paid when the check is drawn by the Commonwealth of Puerto Rico, the Government of the United States, or any NAFTA member country, or by a political subdivision, agency, dependency, department, or authority thereof; or, if the check is a paycheck drawn by an employer to the order of its employees for services rendered.
(4) Request, receive or collect the total or partial payment of any commission or fee in advance for services yet to be rendered.
(5) Use falsehood in order to induce or persuade a person to conduct a transaction.
(6) Unduly retain any sum of money or document concerning a transaction, or failing to advise a client as to his/her rights, or to any amount of money and/or document that is part of a transaction.
(7) Embezzle or misappropriate funds in his/her custody.
(8) Falsify documents that are part of a transaction.
(9) Render, publish or prepare false reports or entries in order to deceive or defraud any person or agent authorized by the Commissioner to inspect his/her business affairs.
History —Aug. 11, 1996, No. 119, § 12, renumbered as § 11 and amended on Aug. 12, 1997, No. 73, § 1, eff. 30 days after Aug. 12, 1997.