Puerto Rico Agreement of Combination

State:
Multi-State
Control #:
US-CC-12-1377C
Format:
Word; 
Rich Text
Instant download

Description

This is an Agreement of Combination, to be used across the United States. It is an Agreement of Combination between a bank holding company and a savings and loan holding company, for the merger of the savings and loan holding company into the bank holding company, in order to create a bank and thrift holding company.
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FAQ

Personal or Contractual Legal Actions: Pursuant to Article 1203 of the New Code, any personal legal action that is not subject to a specific statute of limitations provided by law, including for actions based on breach of contract, will be subject to a statute of limitations of 4 years.

Washington, October 9, 1952. My Dear Mr. Secretary: I am pleased to report to you that with the establishment of the Commonwealth of Puerto Rico on July 25, 1952, the people of Puerto Rico have attained a full measure of self-government, consistent with Puerto Rico's status as a territory of the United States.

Why did the U.S. take control of Puerto Rico? ?The U.S. for a long time had wanted to assert its sort of predominance in the Americas and remove European powers formally,? Christina Ponsa-Kraus, a professor of legal history at Columbia University, told McClatchy News.

President Woodrow Wilson signed the Jones-Shafroth Act (1917) on March 2, 1917, giving Puerto Ricans U.S. statutory citizenship.

When Puerto Rico became a US territory, it incorporated the common law system. This created a mixed legal system in which common law and civil law are blended. This system is what prevails today. Civil law is applied for family law, divorce, child custody, real property law, and contractual law, among others.

The new Civil Code further eliminates obsolete legal concepts like the "emphyteutic annuity." The new Civil Code consists of a preliminary title and six books, covering legal relations, family institutions, property rights, obligations, contracts, and estate rights.

As of November 28, 2020, inheritances are distributed in two parts. 50% is of free disposition and the other half (legitimate) is divided equally among the forced heirs, which are the children and now include the widow or widower.

Article 133 of the New Code states that the court will ultimately select a legal guardian considering the minor's input and reaching a decision based on the best interest of the minor. Fraudulent Conveyance: Reasons that nullify legal acts performed with the intention to defraud creditors were expanded.

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Puerto Rico Agreement of Combination