(a) In addition to the provisions of § 3052d of this title, every application to renew a license to engage in the mortgage loan brokerage business shall enclose the annual license fees in the amount of one thousand eight hundred seventy-five dollars ($1,875) per office, if the volume of business conducted therein is equal or greater than five million dollars ($5,000,000), or one thousand dollars ($1,000) when the volume of business conducted therein is less than five million dollars ($5,000,000), as well as the application processing fees established by the nationwide mortgage licensing system and registry and paid to said entity on the date of the filing.(b) The renewal application shall include financial statements showing that the minimum assets requirements set forth in subsections (a) of § 3054a of this title were met. History —Dec. 30, 2010, No. 247, § 4.6, eff. 120 days after Dec. 30, 2010.
Puerto Rico Legal Code