P.R. Laws tit. 7, § 1335a
When the Chairperson of the Board of the Corporation certifies that the Corporation does not have sufficient funds to honor a loan, he/she shall notify the certification to the Secretary of the Treasury, who is hereby authorized to disburse from the General Fund, with prior notice to the Director of the Office of Management and Budget, the money required for the payment of principal and interest of said loan. The sums borrowed or advanced plus the respective interest, shall be honored through an appropriation of funds to be included in the budget of the second fiscal year following the year in which said loans or advances were granted. The total of all disbursement of money made by the Secretary of the Treasury pursuant to the provisions of subsection (a) of § 1335 of this title, shall not exceed the sum of thirty million dollars ($30,000,000). This authorization to the Secretary of the Treasury shall remain in effect until the close of fiscal year two thousand and ten (2010). Provided, That the guarantee shall be reduced by the total amount of the capital of the Corporation. Provided, further, That in the event that in one (1) accounting year there is a reduction in the capital of the Corporation, the guarantee shall not increase to compensate for said reduction, and the guaranteed amount shall be the same as the previous year.
History —Aug. 17, 2001, No. 114, § 30.