P.R. Laws tit. 14, § 3587
2019-02-20 00:00:00+00
Any corporation may issue the whole or any part of its shares as partly paid shares which shall be subject to the balance of the price to be paid for the same. On the face or back of the certificate issued to represent partially paid shares or in the books and records of the corporation in the case of uncertificated partially paid shares, the total amount of the purchase price and the amount which has been paid thereon shall be stated. Upon declaring dividends on fully paid shares, the corporation shall declare dividends on partially paid shares of the same class, but only on the basis of the percentage of the purchase price which has been paid.
History —Dec. 16, 2009, No. 164, § 5.07.