996b

No person shall engage directly or indirectly in the personal property leasing business in the Commonwealth of Puerto Rico without obtaining previously a license issued by the Commissioner as provided below, except those persons or entities whose assets devoted to the personal property lease business have a value of less than ten thousand dollars ($10,000) or who engage exclusively in the underwriting of personal property leasing contracts for terms of less than one (1) year. History —May 8, 1973, No. 20, p. 71, § 3; July 23, 1974, No. 135, Part 1, p. 634, § 2; July 2, 1987, No. 91, p. 355, § 2; Aug. 12, 1994, No. 65, § 1.

No person shall engage directly or indirectly in the personal property leasing business in the Commonwealth of Puerto Rico without obtaining previously a license issued by the Commissioner as provided below, except those persons or entities whose assets devoted to the personal property lease business have a value of less than ten thousand dollars ($10,000) or who engage exclusively in the underwriting of personal property leasing contracts for terms of less than one (1) year. History —May 8, 1973, No. 20, p. 71, § 3; July 23, 1974, No. 135, Part 1, p. 634, § 2; July 2, 1987, No. 91, p. 355, § 2; Aug. 12, 1994, No. 65, § 1.