The following shall be included in the designation of public securities:\n(1) Those which, by means of an issue, represent credits against The Commonwealth of Puerto Rico or the municipalities, or against the United States or any state or territory or political subdivision thereof, and the dealing in which on exchange is not prohibited by law.\n(2) Those issued by foreign nations or by any political subdivision thereof. Before foreign securities are quoted, however, they must first have been quoted on exchange in the country where they are issued.\nHistory —Commerce Code, 1932, § 47.
Puerto Rico Legal Code