PUERTO RICO

Interest Rate
Legal: 8.25% changes every 6 months (6/30/99)
Judgment: It is Regulated by the Commissioner of the Board of Financial
        Institutions every 6 months

Statute of Limitation (in Years)
Open Account: 3
Merchandise Open Account: 3
Written Contract: 15
Mortgage: 20
Domestic Judgment: 15
Foreign Judgment: 15

Bad Check Laws (Civil Penalty)
See articles 1851-1856 of the Puerto Rico Penal Code regarding bad check laws.

STATE LINKS

State Home Page

The summary of collection laws and other information contained herein is provided for informational purposes only and is not intended as legal advice. Please be aware that state collection laws are frequently revised. Users of this site are advised to consult with independent legal counsel to verify any information contained herein. Links to information on sites other than those operated by MetroGroup are for your convenience only and do not constitute an endorsement or recommendation of those sites. MetroGroup does not take any responsibility for information at those sites, nor does MetroGroup make any representation or warranty whatsoever with respect to those sites or their information.