No registered investment company shall, unless authorized by a majority of the voting outstanding securities and by the Secretary, deviate from any fundamental policy recited in its registration statement, or change the nature of its business so as to cease to be an investment company.Whenever the Secretary, on his own motion or upon application, finds that a registered investment company has ceased to be an investment company, he shall so declare by order and upon the taking effect of such order the registration of such company shall cease to be in effect. The Secretary shall cause said order to be published in a newspaper of general circulation in Puerto Rico. History —Oct. 19, 1954, No. 6, p. 220, § 8, eff. Jan. 1, 1955.
Puerto Rico Legal Code