After the effective date of this act and no later than the fifteen (15) days after the end of each quarter, the Agency shall submit a quarterly report to the Governor of Puerto Rico, to the Office of Management and Budget and to the Legislature on each loan paid by means of the unsecured bond issue authorized by §§ 271 et seq. of this title. Said reports shall specify the following:(1) Balance of each loan when liquidated, itemized by principal and interest.(2) Evidence of the source of the payments made, including guaranteed evidence that the mortgagee made the collection procedures required by regulations.(3) Actions taken to recoup the losses of the guarantors and the amounts recovered, if any.(4) Description of the assets recovered and an itemization of their value.(5) Current costs of conservation, management, maintenance, security, insurance, losses due to vandalism and any others, with regard to each project for the quarter covered by the report on a cumulative basis.(6) Interest paid to date on bonds.(7) List of liquidated assets indicating the sale price and criteria or standards observed in such liquidation or sale.(8) An itemization of the actual loss incurred in each est paid to date on bonds.(7) List of liquidated assets indicating the sale price and criteria or standards observed in such liquidation or sale.(8) An itemization of the actual loss incurred in each project, after charging subsequent costs to the purchase of the project by the Agency, and credits by the sale of assets.(9) Any other pertinent information related to the disposition of the project.(10) Evidence of compliance with the provisions of § 271c of this title in regards to the diligent administration and disposition of the loans and the minimization of losses. History —June 25, 1965, No. 87, p. 216, added as § 11-D on Sept. 30, 1986, No. 4, p. 798, § 4.
Puerto Rico Legal Code