P.R. Laws tit. 5, § 63a
The Secretary of Agriculture of Puerto Rico is hereby authorized to charge the beneficiaries of the Dairy Cattle Purchase and Distribution Program, in addition to the cost and transportation expenses of the animals sold according to the provisions of §§ 58—64 of this title, an amount not greater than ten percent (10%) of the sale price of said animals, which amount shall be covered into a trust fund known as the “Dairy Cattle Insurance Fund”; Provided, That the first payments made by each beneficiary, up to a sum sufficient to cover the percent of the sale price of each animal as set through regulation by the Secretary of Agriculture of Puerto Rico, shall be covered into the said trust fund, and the other payments shall be covered into the revolving fund created by § 59 of this title. Said trust fund shall serve to secure that the funds appropriated for said Program be not considerably dwindled because of the death of the animals so sold. Upon the death of any animal acquired by any beneficiary under said Program, the Secretary of Agriculture of Puerto Rico is hereby empowered to cancel any unpaid balance of the time price owed in excess of the amount payable by the beneficiary up to the date of the death of the animal, according to the corresponding purchase-sale contract. The Secretary of Agriculture of Puerto Rico is likewise empowered to issue an acquittance to the beneficiary as soon as the latter has paid the amount payable by him up to the date of the death of the animal, as aforesaid, and the Secretary of the Treasury of Puerto Rico transfers, at the request of said official, the amount of the cancelled debt from the Dairy Cattle Insurance Fund to the revolving fund created by § 59 of this title; Provided, That the amount to be so transferred from one fund to the other as above stated shall be the total debt owing by the beneficiary in case he does not pay the amount he has to pay; and Provided, likewise, That no other animal shall be sold under said Program to any beneficiary who does not pay the corresponding amount owing up to the date of the death of the animal previously sold to him.
The amounts owing by those beneficiaries whose animals acquired under said Program have died without their price having been fully paid, under the corresponding purchase-sale contracts, from the date of the death of such animals, are hereby remitted; and the transfer of $ 7,500 from the revolving fund of said Program to the Dairy Cattle Insurance Fund is hereby authorized. Said amount shall constitute the initial deposit of the said Dairy Cattle Insurance Fund and shall answer as aforesaid for the dairy cattle already sold that may die in the possession of the beneficiaries without their price having been fully paid.
History —June 18, 1956, No. 61, p. 184, added as § 6(A) on June 10, 1959, No. 24, p. 80, § 2.