The holder of a contract, through a written agreement with the buyer, may refinance the payment of the outstanding deferred balance of the contract providing to such effect a new plan for the payment of the installments. History —June 19, 1964, No. 68, p. 192, § 2016, renumbered as § 216 on May 31, 1972, No. 78, p. 171, § 18; Dec. 23, 1998, No. 310, § 10, eff. 60 days after Dec. 23, 1998.
Puerto Rico Legal Code