Regl. 77, art. 2
- To fully enjoy such exemption, it shall constitute an indispensable requisite that the following provisions be complied with:
Length: 222 wordsOfficial source
Cite as Reglamento Núm. 77, Art. 2
a Those products for which property tax exemption is requested shall be
stored for aging in premises. or places known as bond or aging warehouses over
which the Treasurer shall at all times have control; and under such conditions
that the stored products may. at any time, be identified by the Treasurer or
his agents.
b. Prior to their use for the aforementioned purposes, such bond or aging
warehouses shall be approved by the Treasurer of Puerto Rico; and it shall
constitute a requisite for their operation that a bond be filed in such amount
as the Treasurer shall determine.
C- All bond or aging warehouses shall be operated under the direct control
of the Treasurer or of his lawfully authorized agents. The keys to such warehouses shall remain at all times in possession of the Treasurer or of an agent
or employee designated by him.
d- Any entry or removal of products from any bond or aging warehouse shall
be carried out in the presence of an agent or employee designated by the Treasurer for that purpose; and any entry or dispatch from such premises of any
products without the previous authority and without the presence of an authorized agent of the Treasurer shall be unlawful, and shall constitute sufficient
cause for the definite condemnation of such bond or aging warehouse.