P.R. Laws tit. 27, § 418
(a) Subject to any contractual limitations binding upon the holders of any issue of bonds, or trustees thereof, including but not limited to the restrictions of the exercise of any remedy to a specified proportion or percentage of such holders, any bondholder, or trustee thereof, shall have the right and power, for the equal benefit and protection of all bondholders similarly situated:
(1) By mandamus or other suit, action, or proceeding at law or in equity to enforce his rights against the Authority and its Governing Board, officers, agents, and employees to perform and carry out its and their duties and obligations under this chapter, and its and their covenants and agreements with bondholders;
(2) by action or suit in equity to require the Authority and the Governing Board thereof to account as if they were the trustee of an express trust;
(3) by action or suit in equity to enjoin any acts or things which may be unlawful or in violation of the rights of the bondholders, and
(4) to bring suit upon the bonds.
(b) No remedy conferred by this chapter upon any bondholder, or any trustee thereof, is intended to be exclusive of any other remedy, but each such remedy is cumulative and in addition to every other remedy, and may be exercised without exhausting and without regard to any other remedy conferred by this chapter or by any other law. No waiver of any default or breach of duty or contract, whether by any bondholder, or any trustee thereof, shall extend to or shall affect any subsequent default or breach of duty or contract or shall impair any rights or remedies thereon. No delay or omission of any bondholder or any trustee thereof to exercise any right or power accruing upon default shall impair any such right or power or shall be construed to be a waiver of any such default or acquiescence therein. Every substantive right and every remedy, conferred upon the bondholders may be enforced or exercised from time to time and as often as may be deemed expedient. In case any suit, action, or proceeding to enforce any right or exercise any remedy shall be brought or filed and then discontinued or abandoned, or shall be determined adversely to the bondholders, or any trustee thereof, then and in every such case the Authority and such holder, or such trustee, shall be restored to their former positions and rights and remedies as if no such suit, action, or proceeding had been brought or taken.
History —May 6, 1974, No. 25, Part 1, p. 136, § 18, renumbered as § 14 on June 24, 1998, No. 94, § 17.