P.R. Laws tit. 12, § 1314
(a) Any bondholder or his trustee shall have the right and power, in benefit of and for the equal protection of all bondholders of similar status, including but not limited to the restriction of a specific proportion or percentage of such bondholders, to exercise any action to:
(1) Through a mandamus or other lawsuit, process or proceeding in law or in equity, to assert his rights against the Authority, and its officials, agents and employees, to execute and carry out his duties and obligations under this chapter, as well as the agreements and contracts with the bondholders;
(2) through legal action or bill in equity to demand that the Authority assume liability as if it were the trustee in an express trust;
(3) through legal action, or bill in equity, to forbid any act or thing which could be illegal or in violation of the rights of the bondholders, and
(4) to file suit in relation to the bonds.
(b) No remedy granted by this chapter to any bondholder or his trustee shall have the effect of excluding any other remedy, but each of said remedies shall be cumulative and in addition to all the others, and may be exercised without detriment or consideration of any other remedy conferred by this chapter or any other act. If any bondholder or his should fail to object to any default or violation of the duties or contract, this action shall not shelter nor affect future default or breach of contract or duties, nor shall it limit any right or remedy thereon. No delay or omission by any bondholder or his trustee in exercising any right or power he may have in case of infringement shall limit said right or power, nor shall it be construed as overlooking or concurring with such fault. Every substantive right and every remedy conferred on the bondholders may be enforced or exercised from time to time, and as often as it may be deemed expedient. In case any lawsuit, action or proceeding to enforce any right or exercise any remedy should be filed or inchoated and then interrupted, desisted or ruled against the bondholder or his trustee, then, and in each of such cases, the Authority and said bondholder or trustee shall be restored to their former office, rights, and remedies as if such suit, action or proceeding had never been filed.
History —June 23, 1978, No. 70, p. 222, § 15, renumbered as § 16 on Aug. 22, 1990, No. 59, p. 235, § 3.