P.R. Laws tit. 20, § 661

2019-02-20 00:00:00+00
§ 661. Sale of stamps

(a) The Secretary of the Treasury is hereby directed to sell through the Internal Revenue Collectors’ Offices of the Commonwealth, the stamps issued by the Agronomists Association of Puerto Rico pursuant to this chapter.

(b) The Agronomists Association of Puerto Rico shall provide the Secretary of the Treasury, from time to time, with a sufficient number of stamps for the sale thereof, and the Secretary of the Treasury shall liquidate and reimburse to said Association each month the total proceeds of the sale thereof; Provided, That until the liquidation and reimbursement of the total value of the stamps delivered to the Secretary of the Treasury has been verified, both the proceeds of the stamps sold, and the stamps which have not been sold, shall be deemed, for all purposes, to be of the same nature and condition as assets of the Commonwealth of Puerto Rico in custody of the Secretary of the Treasury.

History —Apr. 9, 1941, No. 20, p. 361, added as § 25 [second] on Aug. 5, 1993, No. 42, § 1; renumbered as § 31 on Dec. 13, 2006, No. 265, § 1.