P.R. Laws tit. 7, § 1335b
The Corporation is hereby authorized to borrow money from the Department of the Treasury of Puerto Rico. The Secretary of the Treasury is hereby authorized to loan to the Corporation, from any available funds, and subject to the terms that are mutually established, the funds that from time to time are requested by the Corporation to pay the securities established by the shares and deposits insurance. These loans shall be subject to an equal maximum amount, whichever is greater: (1) the sum that the Corporation has disbursed or encumbered, including reserves, capital, and the estimated actuarial value at the time of the petition of outstanding special premiums; or (2) the capital contributed by the insured cooperatives to the Corporation. The Corporation may require unlimited disbursements by fiscal year. The Corporation shall reimburse the funds loaned by the Government of the Commonwealth of Puerto Rico pursuant to the terms and conditions agreed upon with the Secretary of the Treasury at the time the loans are granted, but taking into account the needs of the Corporation for liquidity and resources. Said terms may include the pignoration of collaterals, including that of special premiums or future income from tax rates that are fixed pursuant to this chapter and whose collection has been deferred for future years.
History —Aug. 17, 2001, No. 114, § 31.