P.R. Laws tit. 10, § 1671
2019-02-20 00:00:00+00
A loan with a guaranty of securities quoted on exchange, contained in an instrument with the intermediation of licensed agents, shall always be considered commercial.
The lender shall have, on the public bonds or securities pledged in accordance with the provisions of this section, a right to collect his credit with preference over other creditors, who cannot deprive him of the possession of the securities unless they satisfy the loan made on the same.
History —Commerce Code, 1932, § 238.