P.R. Laws tit. 7, § 3042
(a) The Commissioner together with the Bank shall adopt regulations, in addition to the other regulations provided in this chapter, to govern:
(1) The maximum percent of the moneys of a capital investment fund that can be used and attributed to the administrative expenses thereof, to professional and consulting services, and others related to their investments. However, the limitations established by the Commissioner together with the Bank shall not be applicable to technical assistance expenses for small businesses defrayed with money obtained from the sale of tax credits.
(2) The prospectus, handbooks, communications, circular letters, advertisements, or any sales literature or publicity material addressed, or that is proposed to be distributed to potential investors, including clients or prospective clients of an investment advisor, to closely oversee and supervise all types of promotion and publicity developed by each fund, with the purpose of protecting the participating investors at all times.
(3) The commissions and fees for the sales that will be charged for the purchase and sale of proprietary interests of a fund.
(4) Fees charged for the administration of a fund.
(5) Remuneration of the Administrator of the fund.
(6) Factors to be considered to determine that the Administrator of the fund has complied with his due diligence obligations.
(7) Any other rules and regulations that are needed to ensure compliance of this chapter and the protection of the interests of the investors.
(b) The Secretary shall adopt regulations, in addition to the other regulations provided in this chapter, to govern the provisions of §§ 3030, 3031, 3032, 3033(c) and (d), 3034, 3035 and 3039(c) of this title.
History —Jan. 28, 2000, No. 46, § 23.