779a

The Government of Puerto Rico is authorized to guarantee the payment at maturity of a series of capital obligations for an amount of up to ten million dollars ($10,000,000), plus interest pending payment thereon; to be issued by the Cooperative Bank of Puerto Rico. This guarantee shall be effective at the time that the Commissioner of Financial Institutions certifies that the Bank’s shareholders have invested an equal sum in additional capital through the purchase of common stock of the Bank. This guarantee shall be in effect for a term not to exceed ten (10) years from the effective date of the present act. History —July 14, 1994, No. 42, § 1.