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For the purposes of this chapter, the following terms shall have the meanings expressed below:(1) Person. — Shall include individuals, partnerships, associations, trusts, corporations, and any other [juridical] entities.(2) Secretary. — Shall mean the Secretary of the Treasury of the Commonwealth of Puerto Rico.(3) Department. — Shall mean the Department of the Treasury of the Commonwealth of Puerto Rico.(4) License. — Shall mean the authorization issued by the Commissioner to engage in the small personal loan business pursuant to the provisions of this chapter.(5) Concessionaire. — Shall mean a person to whom a license has been issued under this chapter.(6) Advance in cash. — Shall mean the sum in cash received by the borrower or by another person in the name of the borrower.(7) Small personal loan. — Shall mean an advance in cash of four thousand dollars ($4,000) or less, as of January 1, 1999, and five thousand dollars ($5,000) or less as of January 1, 2001, payable in monthly installments, in amounts substantially equal, including amortization of principal and the total amount of the annual interest charge.(8) Financial Board.

ess as of January 1, 2001, payable in monthly installments, in amounts substantially equal, including amortization of principal and the total amount of the annual interest charge.(8) Financial Board. — Shall mean the Board created by §§ 2001 et seq of Title 7, known as the 'Financial Institutions Commissioner’s Office Act'.(9) Commissioner. — Shall mean the Financial Institutions Commissioner.(10) Commissioner’s Office. — Shall mean the Financial Institutions Commissioner’s Office. History —June 28, 1965, No. 106, p. 278, § 2; May 28, 1982, No. 21, p. 43, § 1; July 22, 1988, No. 132, p. 543, § 1; Dec. 17, 1991, No. 96, § 1; Aug. 9, 1995, No. 117, § 1; Dec. 4, 1998, No. 290, § 1, eff. 30 days after Dec. 4, 1998.