P.R. Laws tit. 10, § 774
(a) In the exercise of the powers granted to it by this chapter, and in conformity with the public policy hereby implemented, the Board may make classifications for the purpose of fixing proper charges for different goods or services whenever advisable due to the nature of the goods or services.
(b) The Board shall take into account the needs and interests of the different sectors or branches of commerce engaged in the installment sales business, the needs and interests of the sector engaged in the financing of said sales, and the needs of the buyers, so that any measure it may adopt may tend to afford stability and foster the economy of the Commonwealth of Puerto Rico.
(c) The Board shall establish fair and reasonable charges with due regard to the cost factors involved in the retail installment sales business and in the financing of such sales, as the case may be. It shall also consider the market conditions and economic factors which might affect its findings.
(d) Any finance charge fixed by the Board shall be legal, irrespective of the provisions of §§ 4591—4599 of Title 31, and Act No. 92 of May 6, 1938.
History —June 19, 1964, No. 68, p. 192, § 404; Mar. 4, 1976, No. 9, p. 20, § 4; renumbered as § 502 on Dec. 23, 1998, § 24, eff. 60 days after Dec. 23, 1998.