P.R. Laws tit. 7, § 3096
(a) The Commissioner may, among other alternatives, appoint a receiver and order the dissolution of an international financial institution if the license of said international financial institution or of the person of which the international financial institution is a unit, is revoked or surrendered pursuant to § 3095 of this title.
(b) The receiver appointed shall be a person of recognized moral integrity, with vast experience in the field of banking or finance, and his/her performance with the international financial institution shall be secured by an adequate bond, to be paid by the international financial institution itself.
(c) The receiver shall manage the international financial institution in accordance with the provisions of this chapter and shall:
(1) Take possession of the assets and liabilities, books, records, documents and files which belong to the international financial institution;
(2) collect all loans, charges, and fees owed to the international financial institution;
(3) pay all obligations and debts of the international financial institution after having paid the necessary costs of the receivership, and
(4) supervise the dissolution and liquidation of the international financial institution.
History —Sept. 25, 2012, No. 273, § 17.