P.R. Laws tit. 5, § 185a

2019-02-20 00:00:00+00
§ 185a. Farm credit security—Disposition of amounts from repayment of loans

It is hereby provided that the resources from the repayment of the principal of the secured loans and credits which have been honored shall become a part of the Farm Credit Security Fund, to comply with the objectives and purposes of §§ 181—185a of this title. To defray the administrative expenses incurred or to be incurred in the Farm Credit Program Operation, the Farm Credit Corporation may use the income that the Farm Credit Security Fund may have had, or has from interest on loans or credits that said Corporation may collect in whole or in part, as well as the interest accrued by the deposits that said Fund has, or may have had, and all other reasonable charges that the Farm Credit Corporation deems necessary for the operation of the program. It is further provided that the Farm Credit Corporation cannot collect interest from the borrowers for having secured their loans and credits.

History —Oct. 4, 1954, No. 1, p. 178, added as § 6 bis on Sept. 19, 1983, No. 15, p. 383, § 1.