P.R. Laws tit. 18, § 1608
2019-02-20 00:00:00+00
The Government Development Bank for Puerto Rico shall conduct a feasibility and financing survey of each case and shall determine the amount to be secured; this amount may be up to one hundred percent (100%) of the cooperative’s requirements, but never more than one million dollars ($1,000,000). The security shall not be extended for a term of more than thirty (30) years on loans secured by real property, nor for more than fifteen (15) years on loans secured by personal property.
History —June 7, 1973, No. 111, p. 456, § 8.