P.R. Laws tit. 7, § 1334m
The shares and deposits insurance premiums shall become due on the 1st of July of each year, and shall be paid no later than the last day of said month. The insured cooperatives that on the expiration of this last date do not have the certified figures available of the total of insured shares and deposits shall pay a provisional premium, which amount shall be determined based on the balance of shares and deposits of the last quarterly report submitted or of any other report available to the Corporation. This provisional premium shall be readjusted as soon as the insured cooperative obtains and submits its final figures, and at that time, any pertinent adjustments in the payment of premiums shall also be made.
The Corporation may impose the payment of surcharges, interest and penalties on those insured cooperatives that do not pay the premiums within the term established herein. It may initiate the administrative or judicial actions it deems necessary and convenient, to require any insured cooperative to pay any amount due and unpaid, for the shares and deposits insurance premium.
History —Aug. 17, 2001, No. 114, § 15.