P.R. Laws tit. 10, § 942
For the purposes of this chapter, the following terms shall have the meanings expressed below:
(1) Person. — Shall include individuals, partnerships, associations, trusts, corporations, and any other [juridical] entities.
(2) Secretary. — Shall mean the Secretary of the Treasury of the Commonwealth of Puerto Rico.
(3) Department. — Shall mean the Department of the Treasury of the Commonwealth of Puerto Rico.
(4) License. — Shall mean the authorization issued by the Commissioner to engage in the small personal loan business pursuant to the provisions of this chapter.
(5) Concessionaire. — Shall mean a person to whom a license has been issued under this chapter.
(6) Advance in cash. — Shall mean the sum in cash received by the borrower or by another person in the name of the borrower.
(7) Small personal loan. — Shall mean an advance in cash of four thousand dollars ($4,000) or less, as of January 1, 1999, and five thousand dollars ($5,000) or less as of January 1, 2001, payable in monthly installments, in amounts substantially equal, including amortization of principal and the total amount of the annual interest charge.
(8) Financial Board. — Shall mean the Board created by §§ 2001 et seq of Title 7, known as the “Financial Institutions Commissioner’s Office Act”.
(9) Commissioner. — Shall mean the Financial Institutions Commissioner.
(10) Commissioner’s Office. — Shall mean the Financial Institutions Commissioner’s Office.
History —June 28, 1965, No. 106, p. 278, § 2; May 28, 1982, No. 21, p. 43, § 1; July 22, 1988, No. 132, p. 543, § 1; Dec. 17, 1991, No. 96, § 1; Aug. 9, 1995, No. 117, § 1; Dec. 4, 1998, No. 290, § 1, eff. 30 days after Dec. 4, 1998.