Abstract

^*Professor of Finance (Retired), University of Puerto Rico. The author thanks the following: James D. Rodgers, Ph.D. for encouraging me to write this article, and to him and Robert A. Male, Ph.D. for supplying me model copies of state articles, as well as for their thorough and thoughtful comments to the first draft of this article; also, to Attorney Yanisa Vélez, Attorney Manuel Moreda-Toledo and an unidentified referee of this journal for their helpful comments. All responsibility for errors or omissions rests, of course, with the author.