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Can you summarize Chapter 2?
REGULATION OF BUSINESS GENERALLY > CREDIT CARD TRANSACTIONS
Short Summary
The provided legal document content governs credit card transactions in the Commonwealth of Puerto Rico. It states that no merchant can impose a surcharge on a consumer who chooses to use a valid payment method in Puerto Rico, including credit or debit cards issued by authorized commercial institutions or companies. The term ‘surcharge’ is defined as any increase in the regular price of a product or service imposed on the client when using a credit card. Violation of these provisions can result in a fine of up to $500 or imprisonment for up to 6 months, or both, as determined by the court.
Whom does it apply to?
Merchants in the Commonwealth of Puerto Rico
What does it govern?
Credit card transactions
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
A fine not exceeding $500 or imprisonment not exceeding 6 months, or both
Jurisdiction
Puerto Rico