P.R. Laws tit. 7, § 2007
The following are hereby transferred to the Office of the Commissioner of Financial Institutions:
(a) All the functions, powers, and duties of the Secretary and/or the Department of the Treasury related to §§ 71—79 of Title 15, known as the “Games of Chance Act”; § 10002(j) of Title 13, known as the “Puerto Rico Industrial Incentives Act of 1954”; § 10013(j)(3) of Title 13, “Puerto Rico Industrial Incentives Act of 1963”; § 10025(j)(4), (5) and (6) of Title 13, known as the “Puerto Rico Industrial Incentives Act of 1978”, as amended; Act No. 8, approved October 8, 1954, as amended, known as the “Accounts Receivable Conveyance Act”; Act No. 3, approved October 13, 1954, as amended, known as the “Uniform Trust Receipt Transactions Act”; §§ 7 and 8 of Title 13, Act that creates the Fund for the Investigation and Audit of Financial Institutions and Gambling Casinos; all the functions, powers, and duties of the Secretary and/or the Department of the Treasury related to the supervision and monitoring of banks and financial institutions, with regard to §§ 1 et seq. of this title, “Puerto Rico Banking Law”; §§ 941—959 of Title 10, “Small Personal Loan Act”; Act No, 97, approved June 5, 1973, as amended, “Mortgage Institutions Act”; §§ 996—996 l of Title 10, “Personal Property Leasing Institutions Act”; Act No. 93, approved June 26, 1964, as amended, “Savings Banks Act”; Act No. 17, approved May 3, 1967, as amended, “Act to Regulate the Sale of Drafts”; §§ 301—503 of this title, “Trust Company Law”; Act No. 130, approved June 30, 1975, as amended, “Loans Upon Pledges Act”; §§ 881 et seq. of Title 10, “Uniform Securities Act”; §§ 661—683 of Title 10, “Investment Companies Act of Puerto Rico”; §§ 232 et seq. of this title, known as “International Banking Center Regulatory Act”; §§ 206—209 of this title; § 215 of this title; and the authority to supervise the Cooperative Bank of Puerto Rico, the Puerto Rico Housing Bank and Financing Agency, the Savings and Loans Labor Bank of Puerto Rico, the Government Development Bank for Puerto Rico, and the Puerto Rico Development Bank; all the functions, powers, and duties related to Act No. 86, approved June 24, 1954, as amended, “Industrial and Commercial Financing Contracts Act”; §§ 731—793 of Title 10, known as “Retail Installment Sales and Financing Companies Act”.
(b) All property, documents, unspent amounts from appropriations, items and other funds in possession and in custody of the agencies devoted to the administration of the laws referred to in subsection (a) of this section.
(c) All personnel that the Secretaries of the Treasury and of the Department of Consumer Affairs determine that they have been devoted to the implementation and administration of the laws referred to in subsection (a) of this section. Said personnel shall retain their vested rights and privileges acquired under Act No. 5 of October 14, 1975, the “Puerto Rico Public Service Personnel Act”.
History —Oct. 11, 1985, No. 4, p. 857, § 7; Dec. 26, 2013, No. 164, § 5.