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2024 Laws of Puerto Rico
TITLE FIVE - Agriculture (§§ 1 — 4706)
Chapter 49 - Farm Insurance (§§ 1401 — 1420)
§ 1409 - Debts and obligations

Universal Citation:
5 L of PR § 1409
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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The Board of Directors shall determine annually, upon the recommendation of the Insurance Commissioner of Puerto Rico and the approval of the Governor, the amount of the obligations that the Puerto Rico Farm Insurance Corporation may contract. The Insurance Commissioner’s recommendation shall be made on the basis of actuarial principles that shall contain the separation of the reserve indicated in § 1408 of this title.

The Secretary of the Treasury shall make available whatever funds are needed to carry out the purposes of this chapter chargeable to any unencumbered funds in the Commonwealth Treasury, for the payment of any claim in excess of the funds and resources of the Puerto Rico Farm Insurance Fund.

History —Dec. 12, 1966, No. 12, p. 62, § 9, renumbered as § 10 and amended on Aug. 11, 1988, No. 166, p. 718, § 11.

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