630h

Any business established under the provisions of this chapter shall:(a) Maintain not less than ten thousand dollars ($10,000) in liquid capital for use in the administration of the business of each authorized office.(b) Post and maintain a bond for a minimum of ten thousand dollars ($10,000) and a maximum of one hundred thousand dollars ($100,000), depending on the volume of business.Said bond shall be issued by an insurance company authorized by the Insurance Commissioner to do business in the Commonwealth of Puerto Rico. The bond shall be issued payable to the Commonwealth of Puerto Rico to benefit any person who suffers damages as a consequence of any violation of this chapter and shall be posted at the Office of the Commissioner of Financial Institutions. History —Aug. 31, 2004, No. 236, § 10[bis], eff. 60 days after Aug. 31, 2004.