P.R. Laws tit. 7, § 611i
(a) The Bank shall be subject to examination and supervision by the Secretary of the Treasury of Puerto Rico pursuant to the terms of the “Banking Law”, §§ 1 et seq. of this title, applicable to banks organized under it or subject to its provisions; Provided, however, That the Bank shall not be compelled to pay any fee with regard to any examination of this nature.
The Secretary of the Treasury of Puerto Rico shall issue a certificate to the Bank stating the result of said examination. Said certificate shall be submitted to the Board of Directors during its next regular or special meeting.
(b) The Bank shall also be subject to an annual examination by authorized public accountants of national repute selected by the Board of Directors of the Bank.
History —July 24, 1985, No. 22, p. 735, § 10.