Any real or personal property acquired with resources of the Election Fund for Administrative Expenses shall belong to the People of Puerto Rico in the proportion of the matching fund that has been used. In the event that a party ceases to exist, the property acquired with money from the Election Fund for Administrative Expenses shall be identified and returned to the Election Comptroller to be transferred to the Government of the Commonwealth of Puerto Rico within thirty (30) days as of: (1) the time in which the State Election Commission issues the certification of the results of the general election in which the party has been rendered unregistered; or (2) the time in which the president or the highest ranking official of the party issues a certification stating that the party has ceased to exist. The manner in which this provision shall be implemented with regard to property acquired with matching funds shall be established by regulations. Noncompliance with this section shall entail a penalty amounting to the total value of the property acquired with matching funds not returned plus legal interest. However, the Office of the Election Comptroller or the Government of the Commonwealth of Puerto Rico may choose not to receive the returned property if it would be a burden or entail losses to the Treasury. In these cases, the party that has been rendered unregistered shall keep exclusive ownership of the property and the obligations it has assumed notwithstanding any actions that the Office of the Election Comptroller or the Government of the Commonwealth of Puerto Rico may initiate to recover the public investment in connection with said property.
History —Nov. 18, 2011, No. 222, § 9.004; Dec. 19, 2014, No. 233, renumbered as § 8.004 and amended on Dec. 19, 2014, No. 233, § 62.