P.R. Laws tit. 5, § 981g
2019-02-20 00:00:00+00
(a) The Company may grant loans to any cooperative society for the establishment, maintenance, operation, reconstruction, and improvement of cooperative facilities necessary for its operation.
(b) In the granting of loans the Company shall abide by the provisions of § 981b of this title.
(c) The Company shall fix the rate of interest, the due date, and all other conditions of the loans granted by it. It shall also determine the kind and value of the security required for granting such loans.
(d) In granting loans, the Company shall ascertain that the financing sought cannot be obtained under reasonable terms from other credit sources, and that the borrower can honor his debt.
History —June 21, 1966, No. 90, p. 288, § 8.