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In the event that a corporation should fail to file the report referred to in § 3851 of this title within the period established by law, or refuses to file or amend it when so ordered by the Secretary of State because it is incomplete or unsatisfactory, or whenever it fails to keep in Puerto Rico the accounting books and documents and records referred to in said section, the Secretary of State is authorized to impose administrative fines for violation of said section.\nThe notice of the administrative fine to be sent to the corporation shall state the alleged violation and the amount of the administrative fine, which shall not be of less than one hundred dollars ($100) nor greater than one thousand dollars ($1,000) for nonprofit corporations, whether domestic or foreign. For those for profit corporations, the fine shall be of not less than five hundred dollars ($500) nor greater than two thousand dollars ($2,000). The fine shall be paid within thirty (30) days upon receipt of the notice of the fine.\nIf a domestic corporation fails to file the annual report required by law for a term of two (2) consecutive years, the Secretary of State is authorized to revoke the certificate of

tice of the fine.\nIf a domestic corporation fails to file the annual report required by law for a term of two (2) consecutive years, the Secretary of State is authorized to revoke the certificate of incorporation of such corporation. At least sixty (60) days before revoking the certificate of incorporation, the Secretary of State shall notify the affected corporation of his/her intention to revoke by sending a notice of such intentions by mail to the registered agent of such corporation as it appears in its records.\nThe Secretary of State shall establish by regulation such other provisions as may be necessary to implement the procedure of administrative fines and other penalties which are established in this section.\nOnce the certificate of incorporation is canceled pursuant to law the Secretary of State shall notify the Secretary of the Treasury of such cancellation.\nHistory —Dec. 16, 2009, No. 164, § 15.02.