P.R. Laws tit. 28, § 91l

2019-02-20 00:00:00+00
§ 91l. Disposal of surplus funds

On or before December 31 of each year, once the Corporation has met the payment of all its operating expenses and obligations, has provided for the payment of capital of and interest on its bonds and other obligations to be met, has provided for the reserves which it deems necessary and convenient to carry out its purposes, including a reserve for development and expansion, any surplus funds remaining shall be transferred by the Corporation to the Secretary of the Treasury of the Commonwealth to be covered into the general funds.

History —July 2, 1975, No. 145, p. 433, § 13.