P.R. Laws tit. 7, § 34
No bank or foreign bank shall be established with the same name that is already in use by another institution, or so similar thereto as to give rise to confusion; but when a bank ceases conducting active business it may transfer or assign to another bank the right to use its name; Provided, That no bank shall use the name of any bank which has ceased to do business unless it has been previously incorporated under said name or has changed its own pursuant to the provisions of §§ 1 et seq. of this title; further, Provided, That if the assignment is made to a foreign bank, said foreign bank shall not use said name without having first filed its certificate of incorporation and complied with the other provisions of §§ 1 et seq. of this title; And further, Provided, That the fact that such transfer has taken place shall be published daily for a period of not less than a week in two (2) newspapers of general circulation in Puerto Rico.
History —May 12, 1933, No. 55, p. 322, § 7; Aug. 28, 1997, No. 108, § 7.