P.R. Laws tit. 25, § 457i
The special license issued under the provisions of this subchapter shall be valid for a term of one (1) year as of its date of issue and may be renewed annually for the same term. The application for renewal shall be filed with the Superintendent at least thirty (30) days prior to its date of expiration, accompanied by an internal revenue voucher in favor of the Puerto Rico Police in the amount of five hundred dollars ($500).
This special license shall be valid only for those businesses mentioned and described in the license. Said license may not be transferred to any other business or to any other person and shall be automatically cancelled when the corporation or partnership is dissolved or when an application for liquidation has been filed under the Federal Bankruptcy Act or the chief executive officer who signed the original application has been substituted, even though said special license may be de novo applied for as soon as the new chief executive officer complies with the provisions of this chapter. In these cases the Superintendent may issue a temporary license for a term of not more than thirty (30) days.
History —Sept. 11, 2000, No. 404, added as § 4.04 on Jan. 10, 2002, No. 27, § 17.