P.R. Laws tit. 7, § 361
Every trust company shall, until an order of the Supreme Court of Puerto Rico is obtained declaring the business of the trust company settled and closed, maintain as deposit with the Secretary of the Treasury of Puerto Rico, interest-bearing bonds of the Government of the Commonwealth of Puerto Rico or of a political subdivision thereof, whose par value amounts to ten percent (10%) of its paid-up capital. Such bonds shall be registered in the name of the Secretary of the Treasury of Puerto Rico in trust for the creditors and depositors of such trust company, and shall be subject to sale and transfer, and the proceeds thereof shall be at the disposal of the Secretary of the Treasury only on the order of a court of competent jurisdiction. As long as the trust company continues to be solvent and complies with the laws of Puerto Rico, the Secretary of the Treasury may permit it to collect the interest on said bonds so deposited, and from time to time examine, compare and exchange the same for others acceptable as deposit, as provided herein.
History —Apr. 23, 1928, No. 40, p. 234, § 9; June 26, 1980, No. 14, p. 900, § 4.