P.R. Laws tit. 10, § 691i
2019-02-20 00:00:00+00
It shall be unlawful for any registered open-end company or redeemable at will or the underwriter for such a company to make or cause to be made an offer to the holder of a security of such company or of any other registered company to acquire or exchange his/her common stock in the same or another such company for a security in the same or another such company on any basis other than the relative net asset values of the respective securities to be exchanged, unless the terms of the offer have been approved by the Commissioner or are in accordance with requirements that the Commissioner may prescribe by regulations with regard to such type of transactions.
History —July 30, 2013, No. 93, § 12, eff. 120 days after July 30, 2013.