P.R. Laws tit. 3, § 9244
(a) The fiscal oversight authority of the Board over a public Corporation shall terminate if such public corporation requests to be excluded from the fiscal oversight authority of the Board and the Board authorizes such exclusion; Provided, That the Board shall authorize such exclusion only if:
(1) Said public corporation has not received funds from another supervised entity to make up budget deficits in the last three (3) fiscal years, as determined by the Board;
(2) the revenues of said public corporation do not include the proceeds of taxes assigned by the Commonwealth to said public corporation; and
(3) the Board determines that granting such request does not poses a material risk to achieve the objectives of the Fiscal and Economic Growth Plan.
(b) The Board may reestablish its fiscal oversight authority over a public corporation after such authority has been terminated under this section, if the Board determines that any of the conditions identified in subsection (a) of this section are no longer met. A public corporation may request to be excluded from the fiscal oversight authority of the Board after such fiscal authority has been reestablished in accordance with this subsection.
History —Dec. 8, 2015, No. 208, § 204.