2023 Laws of Puerto Rico
TITLE SEVEN - Banking (§§ 1 — 3116)
PART I - Banks (§§ 1 — 278)
Chapter 19 - Insured Mortgages Reserve Fund (§§ 261 — 272)
§ 271a - Guarantee by Commonwealth—Special reserve fund to guarantee program

The Agency shall establish a special reserve fund to guarantee the provisional loan insurance program authorized under § 271 of this title, and the Commonwealth hereby pledges to appropriate such funds as may be necessary to cover any net loss[es], if any, as a result of operations and obligations incurred under the above-mentioned insurance program; Provided, That the Agency shall be bound to render a report to the Governor of Puerto Rico through the Bureau of the Budget, on the amount and causes of any losses in the Special Reserve Fund, and the Bureau of the Budget, in turn, shall include the necessary legislative appropriations to cover such net losses in the proposed budget for the second fiscal year following the year in which such loss is incurred.

History —June 25, 1965, No. 87, p. 216, added as § 11-A on May 30, 1976, No. 72, p. 219, § 2.