P.R. Laws tit. 4, § 742
A lawyer, or any other person, shall not, directly or indirectly, buy, or be in any manner interested in buying a bond, promissory note, bill of exchange, book-debt, or other chose in action, with the intent and for the purpose of bringing an action thereon; but this provision shall not prohibit the receipt of those choses in action, in payment for property sold, or for services actually rendered, or for a debt previously contracted. Any person who violates the provisions of this section is guilty of a misdemeanor; and if such person be an attorney or counselor, he must be removed from office by the Supreme Court; Provided, however, That nothing in this section shall be deemed or held to impair or prohibit the assignment in good faith of choses in action.
No attorney shall charge fees of a contingent nature in actions to recover damages in an amount that exceeds, for any reason, twenty-five percent (25%) of the final proceeds of the judgment, compromise or agreement if the client is a minor or mentally disabled, or thirty-three percent (33%) of the final proceeds of the judgment, compromise or agreement if it is any other client. Notwithstanding the foregoing, where clients are minors or mentally disabled, the court may authorize the charge of contingent fees up to thirty-three percent (33%) of the final proceeds of the judgment, compromise or agreement if the attorney so requests, and presents good cause therefor.
Any contract or agreement executed for the purpose of evading the prohibition of the preceding paragraph shall be null and invalid.
The courts shall see to the strict enforcement of this provision, and any violation thereof shall be sufficient cause for disciplinary action against the attorney by the Supreme Court.
History —Mar. 11, 1909, p. 96, § 11; Aug. 8, 1974, No. 9, Part 2, p. 609, § 1.