P.R. Laws tit. 25, § 3051o
(a) Any bondholder or his/her trustee, subject to any contractual limitations binding the bondholders of any bond issue or its trustees, including but not limited to the restriction of a specific portion or percentage of said bondholders to exercise any recourse, shall have the right and the power, for the equal benefit and protection of all bondholders that are in similar conditions to:
(1) Assert their rights against the Authority and its Board, officers, agents and employees so that they perform and fulfill their duties and obligations under this chapter, as well as its agreements and contracts with the bondholders through a mandamus or other complaint, action or procedure in law or equity;
(2) demand that the Board and the Authority take responsibility as if they were the trustees of an express trust through action or bill of equity;
(3) prohibit any acts or matters that might be unlawful or violate the rights of the bondholders through action or bill of equity, and
(4) file suits over any controversy that may arise related to the bonds.
(b) No recourse granted by this chapter to any bondholder or trustee thereof is meant to exclude any other recourse, but any of such recourses is accumulative and additional to all others and may be exercised without exhausting and without considering any other recourse granted by this chapter or by any other law. If any bondholder or trustee thereof fails to impugn any fault or violation of duties or contract, this would neither cover nor affect the faults or subsequent noncompliance with the duties or the contract nor impair any right or recourse over these. No delay or omission by any bondholder or trustee thereof, in exercising any right or power he/she may have in the case of any violation, shall impair said right or power nor shall it be understood as overlooking said fault or as being in accord with the same. Any substantive right and any recourse conferred upon bondholders may be enforced or be exercised periodically and as frequently as deemed convenient. In case any suit, action or procedure to enforce any right or to exercise any recourse were to be filed or initiated and then interrupted or abandoned or decided against the bondholder or any trustee thereof, then and in any of such cases the Authority and said bondholder or trustee thereof shall be reinstated to its former position, and its rights and recourses restored as if said suite, action or procedure had never been filed or initiated.
History —Sept. 29, 2004, No. 508, § 17.