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971 — Puerto Rico Law | CourtGPT
  1. Home/
  2. Laws/
  3. Puerto Rico/
  4. Title Twenty-one - Municipalities (§§ 1-4 — 6756)/
  5. Subtitle 3 - General Provisions/
  6. Chapter 90a - Special Communities Perpetual Trust § 971 - Creation/
  7. 971
Puerto Rico Legal Code

971

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An irrevocable and permanent public trust fund is hereby created to be known as the 'Special Communities Perpetual Trust', and a nonprofit public corporate body hereby constituted irrevocably and in perpetuity with independent legal capacity. The trust shall be attached to the Government Development Bank for Puerto Rico. The trust funds shall be deposited and kept in the Bank, separately and independent from other public funds in custody of the Bank. The trust funds shall be used for the purposes specified in § 971g of this title. History —Nov. 21, 2002, No. 271, § 2.