P.R. Laws tit. 21, § 5839

2019-02-20 00:00:00+00
§ 5839. Deduction from monthly payments

The Executive Director of CRIM is hereby empowered to deduct from the monthly payments to the corresponding municipalities, the amount equal to the payment of principal and interest of the debts authorized by §§ 5832–5841 of this title and remit them to the Bank or financing entity, as the case may be. The Director is also empowered to withhold from monthly remittances the amount owed [as a] result of the sale of delinquent debts from the municipalities that do not avail themselves of the financing provided by §§ 5832–5841 of this title. The withholdings authorized herein shall not be considered to compute the limit established in applicability note under § 5801 of this title.

History —Oct. 11, 2001, No. 146, § 8; Nov. 16, 2001, No. 159, § 4.