P.R. Laws tit. 23, § 283
All the moneys of the Company shall be deposited in depositories qualified for funds of the Commonwealth Government, but they shall be kept in a separate account or accounts in the name of the Company. Disbursements shall be made by the latter pursuant to the regulations and budgets approved by the Company.
The Secretary of the Treasury, in consultation with the Company, shall establish the accounting system required for the adequate statistical controls and records of all expenses and income belonging to or managed and controlled by the Company. The Secretary shall also require that the accounts of the Company be kept in such a way that they may be segregated, insofar as may be advisable, in relation to the various types of activities of the Company. The Controller, or his/her representative, shall examine, from time to time, but not less than once a year, the accounts and books of the Company, including its loans, income, disbursements, contracts, leases, accrued funds, investments and any other matters related to its financial situation, and shall render a report thereof to the Governor, to the Board and to the Legislature of Puerto Rico.
History —May 11, 1942, No. 188, p. 934, § 12, renumbered as § 13 and amended on May 14, 1952, No. 456, p. 950, §§ 10, 15; renumbered as § 12 and amended on Dec. 29, 1997, No. 203, § 10, eff. Jan. 1, 1998.