P.R. Laws tit. 10, § 646
(a) The total amount of interest and service charges that a licensee may collect in the case of pledged goods redeemed within thirty (30) days from the date of the pawn loan shall be the amount established in § 644 of this title. The total amount of interest and service charges that a licensee may collect in the case of pledged goods redemption occurring at any time over thirty (30) days after the original date of the pawn loan shall be equal to the interest and service charge of the pawn loan for the original period divided by thirty (30) days (in other words, one-thirtieth (1/30) of the original total service charge and the interest rate of the pawn loan) multiplied by the number of days elapsed. Any service charge paid in advance by the pledgor in excess of the charge determined pursuant to this Section, shall be refunded to the pledgor by the licensee.
(b) If a pawn loan is not satisfied on the maturity date thereof, taking into account any extension period agreed upon pursuant to § 645 of this title, the licensee shall hold the pledged goods for at least thirty (30) days from the maturity date of the pawn loan. Once said thirty (30) days have elapsed, pledged goods shall be forfeited to the licensee, unless the parties had agreed otherwise, and absolute title to the pledged goods shall be conveyed to the licensee by operation of law, and no further notice to the pledgor shall be necessary, and the licensee may sell the unredeemed good, and the pledger shall have no right to redeem, provided, that no investigation is in process over such good by a law enforcement agency.
History —Feb. 24, 2011, No. 23, § 14, eff. 60 days after Feb. 24, 2011; Dec. 16, 2014, No. 209, § 5, eff. 60 days after Dec. 16, 2014.