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(a) If the application is approved, the Commissioner shall issue a license to the applicant to engage in the requested money service business, which license shall include the name of the licensee, the address of the office in Puerto Rico where such business shall be conducted, the date of [issuance], and the expiration date.\n(b) A license shall be issued for each office. Said license shall not be used in a location or office other than the one whose address is shown thereon and shall be placed conspicuously visible to the public in such business office. The license to engage in the requested money service business is nontransferrable.\n(c) Every holder of a license to engage in a money service business shall begin operations within a term that shall not exceed ninety (90) days after the date on which the Commissioner issued the license. If the licensee is unable to begin operations within the term set forth herein, he/she shall request an extension to the Commissioner and explain the reasons therefor. The Commissioner, in his/her sole judgment, shall determine if such reasons are a valid justification to grant an extension.\nThe license shall be void if operations do not begin

he reasons therefor. The Commissioner, in his/her sole judgment, shall determine if such reasons are a valid justification to grant an extension.\nThe license shall be void if operations do not begin within the term provided herein or within the term of any granted extension.\nHistory —Sept. 21, 2010, No. 136, § 2.4, eff. 60 days after Sept. 21, 2010.