P.R. Laws tit. 10, § 949
(a) Examinations. — The Commissioner or his/her authorized representatives shall examine the loans, books, accounts and records of each office to which a license has been granted, whenever he/she deems it proper. The grantee shall pay to the Commissioner, through a certified check payable to the Secretary of the Treasury, an examination fee of three hundred dollars ($300) each day or fraction thereof for each inspector intervening in each examination and the expenses incurred for per diems and traveling expenses in accordance with the standards established for the officers and employees of the Commonwealth of Puerto Rico.
(b) Investigations. — The Commissioner or his/her authorized representatives may investigate at any time any transaction of the concessionaire and may examine the books, accounts and records in connection with violations of this chapter by: (1) any concessionaire; (2) any other person engaged or participating in the business described in § 943(a) of this title, but excluding those listed in § 943(c) of this title, and (3) any other person whom the Commissioner or his/her representatives suspect is violating or about to violate the provisions of this chapter. For the purposes of this, any person who advertises, solicits, or holds out to be ready to effect loan transactions for a sum or worth of three thousand dollars ($3,000) or less, excepting the persons listed in § 943(c) of this title, shall be deemed to be engaged in the small personal loans business.
(c) Access to records. — For the purposes of this section, the Commissioner or his authorized representatives shall have free access to the offices or business premises, files, and safes and vaults of the concessionaire and shall have the authority to subpoena any person and examine him under oath with respect to any such loans, or such business, or any register, investigation or hearing.
(d) Orders to comply and desist. — Whenever the Commissioner has grounds to suspect that any person is violating or intends to violate this chapter, he shall issue the necessary orders to require compliance with the provisions of this chapter, or to cease and desist from violating it. The procedures related to these orders shall be governed pursuant to §§ 2001 et seq. of Title 7, and the regulations adopted thereunder the same.
History —June 28, 1965, No. 106, p. 278, § 9; June 18, 1971, No. 39, p. 118; May 28, 1982, No. 21, p. 43, § 3; July 22, 1988, No. 132, p. 543, § 8; Dec. 16, 1991, No. 96, § 3; Aug. 9, 1995, No. 117, § 3; Dec. 4, 1998, No. 290, § 5, eff. 30 days after Dec. 4, 1998.