P.R. Laws tit. 10, § 947
(a) Offices. — A license shall be required for each office to be established. The Commissioner may issue more than one license to any person.
(b) Transfer. — No grantee shall transfer the location of its main business office or of one or more branches without previous notification in writing, personally or by certified mail of said transfer to the Commissioner at least forty-five (45) days before the date to start operations in such new location. Should the Commissioner pose no objection to said transfer within fifteen (15) days after the filing of the transfer notice, the same shall be understood as authorized.
In the event that the books, records or files of an office were in imminent danger of being lost or of suffering irreparable damage due to any unexpected cause or act of God, the concessionaire may transfer his office without the prior written authorization of the Commissioner. In such case, the concessionaire shall send notice of such transfer to the Commissioner within twenty-four (24) hours following said transfer. If not proved to the satisfaction of the Commissioner that a justified reason existed for such transfer, the Commissioner shall cancel the license to operate in the transferred office. No change shall be permitted of the place of business of the concessionaire under the same license to a site outside the municipality where he has been authorized to do business.
History —June 28, 1965, No. 106, p. 278, § 7; June 21, 1971, No. 47, p. 134, § 2; July 22, 1988, No. 132, p. 543, § 6; Dec. 4, 1998, No. 290, § 4, eff. 30 days after Dec. 4, 1998.