It shall be unlawful, unless the notification requirement under this Section is met, for any registered investment company to pay any dividend, or to make any distribution in the nature of a dividend payment, wholly or partly from any source other than:(a) Such company’s accumulated undistributed net income, determined in accordance with good accounting practice and not including profits or losses realized upon the sale of securities or other properties;(b) Such company’s net income so determined for the current or preceding fiscal year.If such dividend does not originate from the sources listed in this section, the payment shall be accompanied by a written statement which adequately discloses the source or sources of such payment. The Commissioner is hereby authorized to prescribe the form of such statement by regulations taking into account the public interest as defined in § 691 of this title. History —July 30, 2013, No. 93, § 19, eff. 120 days after July 30, 2013.
Puerto Rico Legal Code