P.R. Laws tit. 17, § 862
The Secretary of Housing, hereinafter denominated the Secretary, shall adopt “Mortgage Insurance Regulations for the Acquisition of Lots”, (hereinafter denominated the “Regulations”) which shall provide for the establishment and maintenance of those actuarial reserves he/she deems adequate and necessary to ensure the solvency of the Fund created by virtue of this chapter. These Regulations shall meet the provisions of §§ 2101 et seq. of Title 3. In addition, these Regulations shall provide for the rules and conditions for insurance against losses, resulting from obligations secured by mortgages, whether by loans, credit advances for purchases of obligations evidenced by notes, which might be experienced by the Agency or other financial entities, such as banks, insurance companies, retirement systems, personal loan companies, mortgage investment companies, housing cooperatives, or any other institution that the Secretary determines qualifies through its experience, resources and facilities as eligible for such securing. The Secretary shall establish, from time to time, through resolutions, the maximum amount of any loan to be insured under this chapter.
History —July 26, 1995, No. 86, § 2.