P.R. Laws tit. 10, § 2607
(a) Every licensee shall maintain any money he/she received, either directly or through any of his/her authorized delegates, to carry out money transmissions in a separate account from the time the same are received until the money transmission is carried out.
(b) Every authorized delegate of a licensee shall maintain any money received to carry out money transmissions in a separate account from the time such money is received until it is remitted by the authorized delegate to the licensee.
(c) The money deposited in a separate account shall not be deemed to be part of the assets or wealth of the licensee or authorized delegate.
(d) No licensee or authorized delegate may commingle funds received for transmission by or to the licensee with his/her own personal or business funds or any other personal or business property.
(e) If the Commissioner revokes a licensee's license, any money deposited in the separate account of the licensee or authorized delegate may be assigned to the Commissioner for the benefit of the claimants of pending money transmissions.
History —Sept. 21, 2010, No. 136, § 3.7, eff. 60 days after Sept. 21, 2010.