It shall be unlawful for any registered investment company to distribute long-term capital gains, as defined in the Internal Revenue Code, more often than once every twelve months. Provided, That by regulations or administrative order, the Commissioner may exempt registered investment company from this requirement if he/she deems it convenient, taking into account the public interest as defined in § 691 of this title. History —July 30, 2013, No. 93, § 20, eff. 120 days after July 30, 2013.
Puerto Rico Legal Code