424

The Authority shall submit to the Legislature and to the Governor of Puerto Rico, as soon as possible after the close of each fiscal year of the Commonwealth, but prior to the close of the calendar year, a financial statement and a complete report of the business of the Authority during the preceding fiscal year; Provided, That in the report corresponding to the fiscal year during which the Authority has used or transferred the stock of all its subsidiaries and all its other assets and has paid all its debts and obligations, this fact shall be certified, in evidence of the termination of the corporate existence of the Authority, as provided in § 407 of this title. History —May 6, 1974, No. 25, Part 1, p. 136, § 24, renumbered as § 19 and amended on June 24, 1998, No. 94, § 18.