P.R. Laws tit. 20, § 3040
Real estate brokers, salespersons and company licenses shall expire four (4) years after their issue. Every applicant for renewal who has filed his application along with the accompanying or requested complementary documents prior to thirty (30) days from the expiration date of the license, shall have said license automatically extended for the term the Board may take to consider the application. The duly sworn application for the renewal of the license shall be filed with the Board, on the form that the Board has furnished for such purposes, and shall include the following:
(a) A certificate of good behavior issued by the Puerto Rico Police; by a state of the United States of America, by the country where he has resided since he obtained the license; Provided, That this requirement may be complied with at any time before the license is issued, but evidence shall be submitted to the Board that said certificate has been requested.
(b) An internal revenue stamp in the amount of two hundred dollars ($200) in the case of a broker or salesperson, or five hundred dollars ($500), in the case of a company.
(c) If the application for renewal is filed ninety (90) days after its expiration, the applicant shall submit a sworn statement stating that he/she has not participated in any transaction as a real estate broker, salesperson or company, as defined in this chapter, during said period.
If he/she has participated as such, his/her license shall not be granted until a year has elapsed from the date of said application, without impairing the accountability that may be imposed pursuant to the provisions of this chapter or its regulations.
After a year has elapsed from its expiration without the license being renewed, the real estate broker, salesperson, or company shall be notified by certified mail [return] receipt requested, and after thirty (30) days have elapsed from the receipt of said notice without the broker, salesperson or company having made any effort to renew it, the same shall be cancelled, and the broker, salesperson or company shall have to comply anew with all the requirements established in this chapter.
(d) Evidence that the continuing education courses required by this chapter have been taken.
History —Apr. 26, 1994, No. 10, § 17; July 30, 1999, No. 172, § 5.