As of the effective date of this act, no person may grant or cause loans to be granted, or extend other type of credit to buy securities issued by a registered investment company under this chapter when such loans or credit are, in turn, backed by such securities. Loans granted or other type of credit extended to buy securities of any issuer in accordance with the applicable rules provided in Regulation T issued by the Board of Governors of the Federal Reserve System, or any other federal regulations superseding it, shall be exempt from this prohibition. History —July 30, 2013, No. 93, added as § 11–B on Nov. 27, 2013, No. 137, § 7[bis]
Puerto Rico Legal Code