Whenever a corporation or association fails to file its annual report within the time prescribed by law, and the Secretary of State of Puerto Rico shall have requested the Secretary of Justice to prosecute, the Secretary of Justice may consent to the payment of the penalty directly to the Secretary of the Treasury, upon the condition that the report shall be previously filed with the Secretary of State of Puerto Rico, in which case he may move the court for the dismissal of any prosecution which had been commenced, on such terms with regard to costs, as he may deem advisable. In case of the failure of any corporation to file its annual report within the time prescribed by law or within such additional time as may have been granted by the Secretary of State of Puerto Rico under §§ 2601 et seq. of this title, the court in case of prosecution may increase the penalty provided by law by an amount not to exceed fifty dollars ($50) for each ninety (90) days delay in failure to file such report, and in the case of an association not for pecuniary profit, the court may increase the penalty of each director by an amount not to exceed five dollars ($5) for each delay of ninety (90) days in ort, and in the case of an association not for pecuniary profit, the court may increase the penalty of each director by an amount not to exceed five dollars ($5) for each delay of ninety (90) days in filing said annual report. History —Apr. 13, 1916, No. 24, p. 68, § 17.
Puerto Rico Legal Code