P.R. Laws tit. 7, § 1334z
The Board may contract the services of the Government Development Bank or those of a private person or entity to administer the investments of the Corporation pursuant to the investment policy and the terms adopted by the Board. Likewise, the Board may delegate this function on an investment officer of the Corporation.
The person or entity that is in charge of investment management shall render periodic investment reports to the Executive President at least once (1) a month. Likewise, he/she or it, shall render such other investment reports to the Board as often as required by the latter but at least every three (3) months. Said report shall itemize the following, in addition to any other data required by the Board:
(1) The purchase and sale of assets during the period corresponding to said report.
(2) The profits and losses of said purchases and sales.
(3) The interest earned during the period comprised in the report.
(4) The collaterals that have been placed as security and their estimated market value.
(5) The liquid resources available to handle unforeseen situations.
(6) The profits or losses that the Corporation would have if forced to liquidate financial assets to handle extraordinary losses.
History —Aug. 17, 2001, No. 114, § 28.