(a) Every registered investment company, and every underwriter, broker, dealer, or investment advisor which is a majority-owned subsidiary of such a company, shall maintain and preserve in Puerto Rico, as the Secretary may prescribe by rules and regulations, such accounts, books, and other documents as constitute the record forming the basis for financial statements required to be filed pursuant to this chapter, and of the auditor’s certificates relating thereto.(b) All accounts, books, and other records, required to be maintained and preserved by every person pursuant to subsection (a), shall be subject at any time and from time to time to such reasonable periodic, special, and other examinations by the Secretary, or any representative thereof, as the Secretary may prescribe. Any such person shall furnish to the Secretary, within such reasonable time as the Secretary may prescribe, copies of or extracts from such records which may be prepared without undue effort, expense, or delay, as the Secretary may by order require. History —Oct. 19, 1954, No. 6, p. 220, § 12, eff. Jan. 1, 1955.
Puerto Rico Legal Code