P.R. Laws tit. 23, § 2916
(a) Any bondholder or its trustee, subject to any contractual limitations binding on the holders of any bond issue or their trustees, including, but not limited to, the restriction of a specific portion or percentage of such holders to exercise any recourse, shall have, on behalf and in equal protection of all the bondholders in like condition, the right and the power to:
(1) Through mandamus or other complaint, action, or proceeding in law or in equity, enforce its rights against the Authority and its board, its officers, agents, and employees, so that they perform and carry out their duties and obligations under this chapter as well as its agreements and contracts with the bondholders;
(2) through an action or complaint in equity, demand that the board and the Authority be liable as if they were the trustees of an express trust;
(3) through an action or complaint in equity, prohibit any acts or anything that may be illegal or that violates the rights of the bondholders, and
(4) file lawsuits on any controversy that may arise in relation to the bonds.
(b) No recourse granted by this chapter to any bondholder or trustee thereof has as its objective to exclude any other recourse, but that each of such recourses is cumulative and additional to all others and may be exercised without exhausting and without considering any other recourse conferred by this chapter or by any other law. If any bondholder or trustee thereof fails to challenge any fault or violation of duties or of a contract, such action shall not protect or affect any subsequent fault or breach of duties or of a contract, nor shall it impair any right or recourse thereon. No delay or omission on the part of any bondholder or trustee thereof, in exercising any right or power it may have in the case of any violation, shall impair such right or power, nor shall it be deemed as a waiver of such fault or as acceptance thereof. All substantive rights and all recourses conferred to the bondholders may be enforced or exercised from time to time and as frequently as deemed convenient. In the event that any lawsuit, action, or proceeding to enforce any right or exercise any recourse were to be filed or initiated and later interrupted or abandoned or decided against the bondholder or any trustee thereof, then, and in each of such cases the Authority and such bondholder or trustee thereof shall be restored to their previous status, rights, and recourses as if there had been no such lawsuit, action, or proceeding.
History —Aug. 11, 2002, No. 171, § 17.