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2024 Laws of Puerto Rico
TITLE FIVE - Agriculture (§§ 1 — 4706)
Chapter 7 - Agricultural Loans (§§ 151 — 195)
§ 159 - Loans on products and agricultural implements—Redemption
Universal Citation:
5 L of PR § 159
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The farmer may redeem his loan before maturity by paying the value thereof to the holder of the certificate. If the said holder refuses to accept it, he shall deposit the amount in the Court of First Instance, and may deduct interest at the rate of six percent (6%) per annum for advanced payment from the date on which the said payment is made to the date of maturity of the loan. The judge shall give him a receipt and shall order that the charges then standing upon the goods be transferred upon the amount deposited.
History —Mar. 10, 1904, p. 141, § 9.
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