P.R. Laws tit. 3, § 1565
None of the provisions of this chapter shall affect, modify or annul any contract, loan, bond issue, note or any other type of obligation recognized by law, issued or legally contracted by any of the agencies reorganized under the adopted plan or plans; but on the contrary, all these contracts, loans, bonds, notes and other types of obligations, whatever their scope and nature, shall be faithfully complied with, satisfied and paid by the successor of the reorganized agency, or in the absence of such successor, by the agency or official the Governor may designate or by the Commonwealth of Puerto Rico, and all assets and property of any kind thus transferred shall be preferably subject to fulfillment or payment of the above-mentioned contracts and obligations.
No suit, action or proceedings lawfully brought by or against an agency, by or against the head thereof or other official of the Commonwealth of Puerto Rico, in his official capacity or in relation to the discharge of his official duties, shall be dismissed because of the taking effect of the reorganization plan adopted under the provisions of this chapter; and the court, on motion or supplementary plea filed on any date within the twelve (12) months following the effective date of the reorganization plan or plans, showing to the satisfaction of the court the need for continuing such suit, action or other proceeding to resolve the questions involved, shall permit the same to continue, by or against the successor or said head, agency or official under the reorganization effected by the plan or plans, or if there is no successor, by or against the agency or official the Governor may designate.
History —May 30, 1976, No. 71, p. 211, § 15.