P.R. Laws tit. 7, § 214
After the hearing is held, the court may authorize the receiver or liquidator to borrow the sum of money mentioned in the application, or a lesser sum, and it may likewise authorize the conveyance, pignoration, and/or mortgaging of sufficient bank property to guarantee said loan; and to authorize the lender to foreclose or realize the guarantee conveyed, pignorated, and/or mortgaged, at the maturity of the obligation, and to use the sums realized for amortizing the total amount of the loan; and to pay pro rata the creditors and/or the depositors of the bank, in accordance with the amount and kind of each claim; Provided, That in the case of banks not in receivership, the court shall not authorize said loans unless the claimants, representing not less than two-thirds (⅔) of the total amount owed to the creditors and depositors, grant their consent.
History —July 15, 1935, No. 12, p. 80, § 5.