P.R. Laws tit. 23, § 228c
The Department of the Treasury shall be responsible for establishing, through regulations to be approved within ninety (90) days of the date of effectiveness of this act, the details necessary in order for the Government of Puerto Rico to be in a position to implement the authorities conferred herein, as well as all other requirements established in this legislation.
Provided, That the procedures and parameters to be established through regulations by the Department of the Treasury shall be uniformly applicable throughout the Government of Puerto Rico, as well as ensure availability of an expedient negotiation and award process that maximizes the economic benefits to be received by the People of Puerto Rico through the contracting proposed and that adequately ensures and protects the public interest and the transparency of awarding procedures. In all cases, said procedures shall provide for the swift and simple execution of the corresponding contracts of sale.
In any event, the naming rights contemplated under this chapter may be sold by the owner of a public facility, exclusively, based on the highest and most competitive proposal that the owner is able to negotiate and which obtains the best price and the best possible benefits for the Government of Puerto Rico.
History —Nov. 26, 2007, No. 170, § 5.