P.R. Laws tit. 7, § 812
The Board of Directors shall establish the regulations covering the granting of loans by the Labor Bank; Provided, That in establishing such regulations, the Board shall provide for the granting of loans to workers in seasonal employment.
After the approval of this act, when the worker so authorizes in writing under his signature, the Labor Bank is hereby authorized to direct the discount, from the payroll of the worker or employee to whom it may have granted loans, of up to fifteen percent (15%) of such payroll, so as to credit the sum so deducted to the debt installments in default. The Labor Bank may request that such a discount be made in the payroll of the worker or employee whenever the laborer’s debt has at least two (2) installments in default and the Bank has followed the normal collection procedure. When the worker so authorizes under his hand and notice is served to the employer or officer, the amount of the loan shall be deducted by his employer or official in monthly installments which shall be forwarded to the Labor Bank.
The provisions of this section shall also be applicable to employees of the Commonwealth of Puerto Rico, its municipalities, agencies and subdivisions thereof. Every employer or officer who after having been required by the Labor Bank fails to deduct and remit or who deducts but fails to remit to the Bank any of both things, within thirty (30) days after said requirement, shall be guilty of a misdemeanor, unless he has proof to the effect that the debt is not liquid and demandable. Upon conviction of any of said offenses the employer or officer shall pay a fine for each offense of not less than twenty five dollars ($25.00) nor more than five hundred dollars ($500.00) or sentenced to imprisonment in jail for a term not to exceed six (6) months, or both penalties in the discretion of the court.
History —June 14, 1960, No. 86, p. 162, § 12; June 26, 1961, No. 115, p. 248, § 1; June 28, 1969, No. 117, p. 327, § 7.