The Secretary of the Treasury shall collect fees in the amount of five hundred dollars ($500) for each license issued according to the provisions of this chapter. The license fees shall be for each calendar year, or fraction thereof. In the cases of license renewal, the fees shall be payable no later than the 15th day of January of each year. The late payment of the license after January 15 of each year shall entail a surcharge of twenty-five percent (25%) over and above the annual license fees, which shall be paid on obtaining the license.\nHistory —Sept. 21, 1983, No. 18, p. 401, § 4, eff. 60 days after Sept. 21, 1983.
Puerto Rico Legal Code