P.R. Laws tit. 10, § 691v
No registered closed-end company shall purchase any securities of which it is the issuer except:
(a) On a securities exchange or such other open market as the Commissioner may designate by regulations or orders, according to the notification period and other rules that the Commissioner may determine.
(b) Pursuant to tenders, after reasonable and equal opportunity to submit tenders given to all holders of securities of the class to be purchased.
(c) Under such other circumstances as the Commissioner may permit by regulations for the protection of investors in order to insure that such purchases are made in a manner or on a basis which does not unfairly discriminate against any holders of the class or classes of securities to be purchased.
History —July 30, 2013, No. 93, § 25, eff. 120 days after July 30, 2013.