The Economic Development Bank for Puerto Rico, at its discretion, may grant a secured loan, during a period of ten (10) years counting from the effectiveness of this act, to the developers of the projects it deems are viable. The Economic Development Bank for Puerto Rico shall secure the loans granted by means of insurance. The funds to nourish the insurance may arise from the collection of five percent (5%) of the value of the mortgage loans granted in the special economic development zone.The Bank shall submit a special report to the Legislature with an evaluation of its participation in the granting of loans and the securities authorized by this chapter, including a list of the petitions received, as well as its determination with regard to the same. History —Aug. 10, 2002, No. 153, § 8.
Puerto Rico Legal Code