P.R. Laws tit. 10, § 1184
2019-02-20 00:00:00+00
Brokers shall not:
(1) Constitute themselves underwriters of risks and merchandise, or security for insurance contracts and obligations of this kind.
(2) Deal in securities or merchandise belonging to individuals or partnerships, that have suspended payment or that have been declared bankrupt, unless they have been discharged.
(3) Acquire for themselves or for members of their immediate family, securities or chattels the negotiation of which is entrusted to them, except when the broker must answer to the vendor for noncompliance on the part of the purchaser.
(4) Issue certifications not directly referring to facts stated in the entries in their books.
History —Commerce Code, 1932, § 65.