P.R. Laws tit. 11, § 212

2019-02-20 00:00:00+00
§ 212. Advance of funds

The Secretary of the Treasury is hereby authorized to make advances from the General Treasury of the Commonwealth to the Disability Benefit Fund not to exceed five million dollars ($5,000,000), during the period comprised from the date this act takes effect up to December 31, 1969, as the Secretary may deem necessary to defray the initial expenses of the administration of this chapter and to facilitate to the Fund the payment of benefits prior to the receiving of the contributions. Such advances shall be refunded by the Fund to the General Treasury not later than June 30, 1972, with interest as determined by the Secretary of the Treasury as prevailing, at the time the advance was made, for loans or investments of the same nature.

History —June 26, 1968, No. 139, p. 354, § 12.