P.R. Laws tit. 7, § 232r
2019-02-20 00:00:00+00
An international banking entity, to which a license was issued pursuant to § 10 of Act No. 16 of July 2, 1980, as amended, known as “International Banking Center Regulatory Act” herein repealed, shall be deemed on the effective date of this act as an international banking entity organized pursuant to §§ 232 et seq. of this title and shall enjoy all the rights, privileges, powers and authority and shall be subject to the duties, obligations, penalties, responsibilities, conditions and limitations provided in §§ 232 et seq. of this title.
Any regulations adopted pursuant to said Act No. 16 not in conflict with this §§ 232 et seq. of this title, shall remain in effect until amended or repealed.
History —Aug. 11, 1989, No. 52, p. 178, § 20.