P.R. Laws tit. 7, § 64
No official, director, agent or employee of a bank organized under §§ 1 et seq. of this title may serve or discharge an office as official, director, agent or employee of another bank organized under §§ 1 et seq. of this title, or finance company, savings and loan association, trust company, companies engaged in granting mortgage loans, or any other institution engaged in the business of lending money in Puerto Rico; Provided, however, That this prohibition shall not apply to the bank’s affiliates, public financing institutions, cooperative institutions, the Economic Development Bank for Puerto Rico or the Government Development Bank for Puerto Rico.
History —May 12, 1933, No. 55, p. 322, added as § 25a on June 3, 1948, No. 6, p. 16, § 2; Sept. 7, 1961, No. 12, p. 353, § 1; July 23, 1974, No. 165, Part 1, p. 767, § 7; Aug. 28, 1997, No. 108, § 28.