The Administrator shall debit from the contributions account established for each Hybrid Program participant those amounts used to issue an annuity for the payment of benefits or pay a lump sum distribution in accordance with §§ 787j and 787k of this title. Once the annuity is issued or the total balance of the contributions account is paid in a lump sum distribution, the account shall cease to exist. Furthermore, the Administrator may debit the amount of the disability insurance premium from the account of the participant. History —May 15, 1951, No. 447, p. 1298, added as § 5-109 on Apr. 4, 2013, No. 3, § 23, eff. July 1, 2013. The Administrator shall debit from the contributions account established for each Hybrid Program participant those amounts used to issue an annuity for the payment of benefits or pay a lump sum distribution in accordance with §§ 787j and 787k of this title. Once the annuity is issued or the total balance of the contributions account is paid in a lump sum distribution, the account shall cease to exist. Furthermore, the Administrator may debit the amount of the disability insurance premium from the account of the participant. History —May 15, 1951, No. 447, p. 1298, added as § 5-109 on Apr. 4, 2013, No. 3, § 23, eff. July 1, 2013. The Administrator shall debit from the contributions account established for each Hybrid Program participant those amounts used to issue an annuity for the payment of benefits or pay a lump sum distribution in accordance with §§ 787j and 787k of this title. Once the annuity is issued or the total balance of the contributions account is paid in a lump sum distribution, the account shall cease to exist. Furthermore, the Administrator may debit the amount of the disability insurance premium from the account of the participant. History —May 15, 1951, No. 447, p. 1298, added as § 5-109 on Apr. 4, 2013, No. 3, § 23, eff. July 1, 2013.
Puerto Rico Legal Code