P.R. Laws tit. 10, § 2615
2019-02-20 00:00:00+00
In addition to the provisions of § 2595 of this title every renewal application to engage in a check cashing business shall include:
(a) A 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.
(b) Evidence that the applicant maintains a net worth of not less than fifty thousand dollars ($50,000) calculated in accordance with generally accepted accounting principles.
(c) Evidence that the applicant has maintained liquid assets worth twenty- five thousand dollars ($25,000) or more at all times.
History —Sept. 21, 2010, No. 136, § 4.5, eff. 60 days after Sept. 21, 2010.