611h

At the discretion of the Bank, any bond issued under the provisions of this chapter shall be secured by a trust agreement executed by and between the Bank and a corporate trust, which can be any trust company or bank with the faculties of a trust company in or outside the Commonwealth of Puerto Rico. It shall be legal for any bank or trust company incorporated under the laws of the Commonwealth of Puerto Rico or any state of the Union which can act as depositary of the proceeds of the bonds, income, and other money under this chapter, to furnish the sureties or pledge the collateral which might be required by the Bank. In addition to the above, any trust agreement may contain those provisions that the Bank deems reasonable and pertinent for the security of the bondholders. The term 'trust agreement' shall mean the trust agreement or resolution that provides for the bond issue under the provisions of this chapter. History —July 24, 1985, No. 22, p. 735, § 9.