P.R. Laws tit. 10, § 2613
In addition to the requirements set forth in § 2592 of this title, every application to engage in a check cashing business shall include:
(a) An annual license fee in the amount of five hundred dollars ($500) per office, to be paid by manager’s check, certified check, money order, or bank draft to the order of the Secretary of the Treasury. An additional annual fee of five hundred dollars ($500) shall be required per every additional office to be established. If the license is applied for or issued after June 30 of any year, the annual fee for that specific year shall only be two hundred fifty dollars ($250).
(b) A manager’s check, certified check, money order, or bank draft in the amount of five hundred dollars ($500) to the order of the Secretary of the Treasury, to defray the cost of the investigation required under this chapter. In the event that the cost of the investigation exceeds the aforesaid amount, the Commissioner shall notify the applicant that, in order to continue with the licensing process, the applicant shall deposit the necessary amount with OCFI to cover such cost.
History —Sept. 21, 2010, No. 136, § 4.3, eff. 60 days after Sept. 21, 2010.