P.R. Laws tit. 14, § 3854
In the event that any foreign corporation fails to file the report required by § 3853 of this title, or refuses to file or amend it when so requested by the Secretary of State because it is incomplete or unsatisfactory, or fails to keep or maintain in Puerto Rico the accounting books and documents and records referred to by §§ 3808 and 3853 of this title, the Secretary of State is hereby authorized to impose administrative fines for violation of said sections. In such case, the procedure established in § 3852 of this title shall apply.
If a foreign corporation fails to file the report referred to in § 3853 of this title for the term of two (2) consecutive years, the Secretary of State is hereby authorized to revoke the authorization granted to the corporation to do business in Puerto Rico. The Secretary of State shall notify the concerned corporation of his/her intention to revoke the authorization to do business at least sixty (60) days before the revocation. Such notice shall be sent to the last known address of the registered agent of the corporation, as it appears from the records of the Department of State.
The Secretary of State shall establish by regulation such other provisions as may be necessary to implement the procedure of administrative fines and other penalties established in this section.
History —Dec. 16, 2009, No. 164, § 15.04.