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367 — Puerto Rico Law | CourtGPT
  1. Home/
  2. Laws/
  3. Puerto Rico/
  4. Title Seven - Banking (§§ 1 — 3116)/
  5. Part II - Trust Companies/
  6. Chapter 35 - Powers and Limitations § 361 - Legal Reserve/
  7. 367
Puerto Rico Legal Code

367

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No trust company shall receive funds and moneys paid or brought into a court of Puerto Rico except it be designated by the Secretary of the Treasury of Puerto Rico a depositary of moneys paid into court. Nothing in this section contained shall, however, be deemed to preclude the deposit, in any trust company organized under the laws of Puerto Rico, of any funds pursuant to the order or direction of a court of any other territory or state or of the United States making such trust company a depositary of such funds. History —Apr. 23, 1928, No. 40, p. 234, § 15, eff. 90 days after Apr. 23, 1928.