P.R. Laws tit. 10, § 691s
It shall be unlawful for any registered investment company to lend money or property to any person, directly or indirectly, if:
(a) The investment policies of such registered company, as recited in its notification of registration and reports filed under this chapter, do not permit such a loan.
(b) Such a loan is prohibited by any provision of law or regulations.
(c) Such person controls or is under common control with such registered company; except that the provisions of this subsection shall not apply to any loan from a registered company to a company which owns all of the outstanding securities of such registered company, except directors” qualifying securities; Provided, however, That this subsection shall not be construed as to limit the ability of investment companies to enter into award contracts with any person or company.
History —July 30, 2013, No. 93, § 22, eff. 120 days after July 30, 2013.