998l

For the purpose and intention that the provisions of §§ 501(a)(1), 511, 521, 522, 523, and 524 of Public Law No. 96-221, approved by the Congress and signed by the President of the United States of America on March 31, 1980, cease to be applicable to Puerto Rico, and to render ineffective the preemption established by Public Law No. 96-221, from the date this act takes effect, it is here expressly provided that the Commonwealth of Puerto Rico does not wish the applicability of:(a) The provisions of § 501(a)(1) with regard to loans, mortgages, credit sales, and advances made within its territorial limits, pursuant to the provisions of § 501(b)(2) of Public Law No. 96-221;(b) the provisions of § 511 on business and agricultural loans of Public Law No. 96-221, to loans made within its territorial limits, pursuant to the provisions of § 512(2) of said act;(c) the amendatory provisions included in §§ 521, 522, and 523 on other loans, of Public Law No. 96-221, pursuant to the provisions of § 525 of said act with regard to loans made within its territorial limits, and(d) the provisions of § 524 on credits granted by institutions organized under the Small Business Investment Act of 1958,

§ 525 of said act with regard to loans made within its territorial limits, and(d) the provisions of § 524 on credits granted by institutions organized under the Small Business Investment Act of 1958, pursuant to the provisions of § 524 of Public Law No. 96-221. History —June 14, 1980, No. 3, p. 871, § 1, eff. 10 days after June 14, 1980.