P.R. Laws tit. 7, § 589
In the event there is already existent, prior to the enactment of §§ 581—585 of this title, a contract between any such unit and any other bank, trust company, individual, corporation, association or partnership, to act as fiscal agent and/or paying agent, and/or co-paying agent, such contract on such issue for such unit for such purpose, shall not be invalidated by the enactment of §§ 581—585 of this title, until such time as such unit shall have discharged its liabilities for such issue, either thru payment in full of the principal amount of the indebtedness of such issue together with all accrued interest thereon, or until such unit shall redeem such issue thru the call of such issue prior to maturity and shall have discharged its obligation thru the payment in full of the principal amount of such issue then outstanding together with the interest thereon and any and all premiums that may be required thereon or thr[ough] the retirement in full of such issue thr[ough] the purchase of such issue and all coupons or interest obligations appurtenant thereto, either by such unit or by the Commonwealth Government or by the Bank.
The existence of such relationship as described in this section, shall in no way impair the appointment of, nor the authorization of the Bank to act as fiscal agent or paying agent or co-paying agent on any subsequent issue of such unit, nor shall contract, as described in this section, impair the appointment, authorization, powers, duties or obligations of the Bank to act under any other section or §§ 581—595 of this title, singly or severally, as may be determined by resolution of its Board of Directors.
History —May 15, 1945, No. 272, p. 952, §§ 9, 15.