The payment of the total amount of the contract of sale of naming rights shall be made prior to the date of effectiveness of the same and as condition therefor. The proceeds of the sale of naming rights over a public facility may be used by the property owner solely for:(a) Defraying the cost of capital improvements associated with the maintenance, preservation and modernization of the said public property, or(b) for paying installments on any loans taken by the owner of the public property or the Government of Puerto Rico to build the same, should there be any.Provided, That if after applying the proceeds of the sale for any of the uses authorized in this section, should there be any surplus, the same shall be transferred by the corresponding government entity to the Curable Catastrophic Disease Services Fund established under §§ 3221 et seq. of Title 24. History —Nov. 26, 2007, No. 170, § 7.
Puerto Rico Legal Code