P.R. Laws tit. 26, § 1377
As an insurer may deem it necessary to meet the applicable federal or state laws, said insurer, with respect to a separate account, including without being limited to any separate account that is a stocks management company or an investment trust, may grant the right to vote and other special rights and procedures to conduct the account business, to persons who are interested in the same, including without being limited to special rights and procedures related to the investment policy, investment consulting services, selection of independent public accountants, and the selection of a committee, whose members are not otherwise bound to be affiliated with the insurer, for managing the account business.
History —Ins. Code, added as § 13.430 on Nov. 9, 2007, No. 165, § 1, eff. 90 days after Nov. 9, 2007.