P.R. Laws tit. 7, § 152
2019-02-20
No bank or foreign bank shall commence its business until its president or vice-president and manager have prepared and subscribed an affidavit stating that the full amount of its capital and reserve fund has been duly paid in cash. Said affidavit may be sworn to before any notary public or other official authorized to administer oaths in the municipality in which the bank has its main office, and it shall be filed with the Office of the Commissioner.
History —May 12, 1933, No. 55, p. 322, § 29; May 15, 1950, No. 430, p. 1056, § 10; Aug. 28, 1997, No. 108, § 32.