P.R. Laws tit. 18, § 398b
(a) The funds of the System may also be invested, in accordance with the regulations in effect, by granting participants:
(1) Loans secured by contributions.
(2) Special loans.
(3) Mortgage loans. Any document regarding contracts or securing mortgage loans, mortgage renewals and cancellations, as well as the recording, annotation or any transaction related to said document which is part of the System and is executed before a notary, shall be exempt from the payment of any type of fees, levies, and taxes.
(4) Loans to temporary transitory and eligible transitory participants at an interest rate to be determined by the Board of Trustees in its general by-laws.
(5) Any other type of loan or credit which the Board of Trustees of the System deems to be beneficial or necessary for its participants.
(6) Cultural travel loans.— The Board of Trustees is hereby authorized to invest a portion of the reserves available to facilitate the granting of loans to System participants for cultural travel, subject to the regulations adopted by the System. The System shall determine, from time to time, the amount of funds to be allocated to this type of investment. It shall also determine through regulations the conditions and lending procedure authorized under this chapter. Loan payments shall be deducted on a monthly basis from the salary of the System participant. The Government shall pay the System fifty percent (50%) of the interests corresponding to the loan made by the participant to participate in these trips. If the participant resigns from the position he/she holds within eighteen (18) months after receiving the loan, such participant shall reimburse the Government the interests it paid on said loan. The resources deemed necessary for attaining these purposes shall be earmarked every year in the Budget of the Commonwealth of Puerto Rico.
History —Dec. 24, 2013, No. 160, § 6.3.