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691f — Puerto Rico Law | CourtGPT
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  3. Puerto Rico/
  4. Title Ten - Commerce (§§ 1 — 4196)/
  5. Subtitle 1 - Regulation of Business Generally/
  6. Chapter 33a - Puerto Rico Investment Companies Act of 2013 § 691 - Definitions/
  7. 691f
Puerto Rico Legal Code

691f

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Any person who is ineligible, by reason of §§ 691d and 691e of this title, to serve in the capacities enumerated in such Sections, may file with the Commissioner an application for an exemption from the provisions of such sections. The Commissioner shall by order grant such application, including conditions if he/she deems appropriate, if it is established that the application of §§ 691d and 691e of this title is disproportionately severe or that the conduct of such person has been such as not to make it against the public interest to exempt him/her from the application of §§ 691d and 691e of this title. History —July 30, 2013, No. 93, § 9, eff. 120 days after July 30, 2013.