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https://law.justia.com/codes/puerto-rico/title-five/chapter-77/3058/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 77 - Agriculture and Livestock Industries Organization (§§ 3051 — 3061)›§ 3058 - Violations and penalties | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 77 - Agriculture and Livestock Industries Organization (§§ 3051 — 3061) › § 3058 - Violations and penalties | (a) The administrative boards may impose a fine of not less than two hundred dollars ($200) and not more than ten thousand dollars ($10,000) in each case, on any person who violates the provisions of this chapter or the regulations promulgated hereunder.
(b) In the event that a person fails to comply with any order or ... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-77/3059/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 77 - Agriculture and Livestock Industries Organization (§§ 3051 — 3061)›§ 3059 - Report | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 77 - Agriculture and Livestock Industries Organization (§§ 3051 — 3061) › § 3059 - Report | The boards shall submit a report to the Secretary on their activities during the preceding fiscal year, including information, data and recommendations related to matters addressed under this chapter.
History —Sept. 18, 1996, No. 238, § 10, eff. Jan. 1, 1997. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-77/3060/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 77 - Agriculture and Livestock Industries Organization (§§ 3051 — 3061)›§ 3060 - Sanitation laws | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 77 - Agriculture and Livestock Industries Organization (§§ 3051 — 3061) › § 3060 - Sanitation laws | None of the provisions of this chapter or the regulations approved hereunder shall have the effect of repealing or amending any sanitation laws that regulate the agriculture and livestock industries of Puerto Rico.
History —Sept. 18, 1996, No. 238, § 11, eff. Jan. 1, 1997. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-77/3061/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 77 - Agriculture and Livestock Industries Organization (§§ 3051 — 3061)›§ 3061 - Reassignment of related programs | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 77 - Agriculture and Livestock Industries Organization (§§ 3051 — 3061) › § 3061 - Reassignment of related programs | The Dairy Industry Regulating Office, the Puerto Rican Thoroughbred Paso Fino Horse Industry Development and Regulation Office, the Office for the Regulation and Promotion of the Beef Industry, and the Fishing and Aquaculture Industry Council shall be attached to the Puerto Rico Agriculture and Livestock Industry Regul... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-78/3071/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 78 - Agricultural Economic Corridor of the Central Region of Puerto Rico Act (§§ 3071 — 3076)›§ 3071 - Definition of the region | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 78 - Agricultural Economic Corridor of the Central Region of Puerto Rico Act (§§ 3071 — 3076) › § 3071 - Definition of the region | The region shall comprise the following municipalities: Adjuntas, Aguas Buenas, Aibonito, Barranquitas, Cayey, Ciales, Cidra, Comerío, Corozal, Florida, Jayuya, Lares, Las Marías, Maricao, Morovis, Naranjito, Orocovis, Utuado, and Villalba.
History —Mar. 23, 2010, No. 32, § 2, eff. July 1, 2010. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-78/3072/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 78 - Agricultural Economic Corridor of the Central Region of Puerto Rico Act (§§ 3071 — 3076)›§ 3072 - Statement of public policy | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 78 - Agricultural Economic Corridor of the Central Region of Puerto Rico Act (§§ 3071 — 3076) › § 3072 - Statement of public policy | The public policy of the Government of Puerto Rico shall be to promote the development of agricultural economy development, support municipal governments in matters concerning the mountain region, and provide the necessary resources to make sustainable economic growth viable and consistent with the capabilities of this... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-78/3073/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 78 - Agricultural Economic Corridor of the Central Region of Puerto Rico Act (§§ 3071 — 3076)›§ 3073 - Strategic plan | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 78 - Agricultural Economic Corridor of the Central Region of Puerto Rico Act (§§ 3071 — 3076) › § 3073 - Strategic plan | It is hereby provided that the Department of Agriculture shall draft, not later than March 1, 2013, a Strategic Plan for the promotion of an agricultural economy within the central region, in order to define the strengths, weaknesses, opportunities, and challenges of the municipalities of the region. Such Plan shall be... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-78/3074/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 78 - Agricultural Economic Corridor of the Central Region of Puerto Rico Act (§§ 3071 — 3076)›§ 3074 - Agricultural and Livestock Business Development Administration | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 78 - Agricultural Economic Corridor of the Central Region of Puerto Rico Act (§§ 3071 — 3076) › § 3074 - Agricultural and Livestock Business Development Administration | Once the Department of Agriculture has drafted the proposed Strategic Plan for the promotion of an agricultural economy with the central region, as set forth in § 3073 of this title, it shall be the duty of the Agricultural and Livestock Business Development Administration to execute such Plan.
The Administration, by v... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-78/3075/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 78 - Agricultural Economic Corridor of the Central Region of Puerto Rico Act (§§ 3071 — 3076)›§ 3075 - Incentives program | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 78 - Agricultural Economic Corridor of the Central Region of Puerto Rico Act (§§ 3071 — 3076) › § 3075 - Incentives program | Municipal governments are hereby authorized to work in conjunction with one another for the development of municipal incentives program to attract new agricultural investments. This incentives program may be administered by the Administration, as well as the incentives provided by the Government of Puerto Rico through ... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-78/3076/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 78 - Agricultural Economic Corridor of the Central Region of Puerto Rico Act (§§ 3071 — 3076)›§ 3076 - This chapter prevails | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 78 - Agricultural Economic Corridor of the Central Region of Puerto Rico Act (§§ 3071 — 3076) › § 3076 - This chapter prevails | The provisions of this chapter shall prevail over any provision made in general or special laws or regulations not consistent with the same.
History —Mar. 23, 2010, No. 32, § 7, eff. July 1, 2010. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-a/4381/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter A - Preliminary Provisions (§ 4381)›§ 4381 - Definitions | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter A - Preliminary Provisions (§ 4381) › § 4381 - Definitions | For the purpose of this chapter, the following terms shall have the following meanings:
(a) Shares. — Shall mean the economic contribution made by each member of a cooperative to the capital or equity of the cooperative enterprise.
(b) Preferred shares. — Shall mean the shares issued by any cooperative in which the amo... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-i/4382/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter I - Public Policy (§§ 4382 — 4386)›§ 4382 - Autonomy | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter I - Public Policy (§§ 4382 — 4386) › § 4382 - Autonomy | The Commonwealth of Puerto Rico guarantees the free development and autonomy of all cooperatives and shall harmoniously seek the form and manner to assist, stimulate, develop, promote and support the cooperative movement.
History —Sept. 1, 2004, No. 239, § 2.0. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-i/4383/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter I - Public Policy (§§ 4382 — 4386)›§ 4383 - Equality of rights | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter I - Public Policy (§§ 4382 — 4386) › § 4383 - Equality of rights | The Commonwealth of Puerto Rico guarantees that all cooperatives shall enjoy all the powers and prerogatives granted by law to other juridical persons, and that no discriminatory restrictions or additional requirements shall be established for them.
History —Sept. 1, 2004, No. 239, § 2.1. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-i/4384/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter I - Public Policy (§§ 4382 — 4386)›§ 4384 - Applicable law | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter I - Public Policy (§§ 4382 — 4386) › § 4384 - Applicable law | Cooperatives organized pursuant to this chapter shall be governed by its provisions and by cooperative law in general. Otherwise, they shall be governed by applicable laws inasmuch as they are compatible with their nature.
History —Sept. 1, 2004, No. 239, § 2.2. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-i/4385/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter I - Public Policy (§§ 4382 — 4386)›§ 4385 - Cooperative acts | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter I - Public Policy (§§ 4382 — 4386) › § 4385 - Cooperative acts | Cooperative acts shall be those carried out between the cooperatives and their members, or between the cooperatives themselves and with the Commonwealth of Puerto Rico in order to comply with their corporate purposes, and they shall be subject to cooperative law.
History —Sept. 1, 2004, No. 239, § 2.3. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-i/4386/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter I - Public Policy (§§ 4382 — 4386)›§ 4386 - Time without charge for meetings | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter I - Public Policy (§§ 4382 — 4386) › § 4386 - Time without charge for meetings | Every government instrumentality, including the departments, agencies, and public corporations of the Commonwealth of Puerto Rico and its municipalities shall authorize time off without charge against any leave to the members of the directing bodies of the cooperatives organized in said instrumentalities in order to re... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-ii/4387/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter II - Legal Capacity (§§ 4387 — 4396)›§ 4387 - Concept | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter II - Legal Capacity (§§ 4387 — 4396) › § 4387 - Concept | Cooperatives are private juridical persons of social interest founded upon their solidarity and self-efforts to carry out socioeconomic activities in order to fulfill individual and collective needs without seeking profit.
History —Sept. 1, 2004, No. 239, § 3.0. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-ii/4388/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter II - Legal Capacity (§§ 4387 — 4396)›§ 4388 - Principles | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter II - Legal Capacity (§§ 4387 — 4396) › § 4388 - Principles | Cooperatives shall observe the following principles:
(a) Open and voluntary membership. — Cooperatives are voluntary organizations for all those persons willing to use their services and to accept the responsibilities entailed by membership without discrimination by reason of gender, race, social class, political affil... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-ii/4389/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter II - Legal Capacity (§§ 4387 — 4396)›§ 4389 - Characteristics | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter II - Legal Capacity (§§ 4387 — 4396) › § 4389 - Characteristics | Cooperatives must be consistent regarding the following characteristics:
(a) Indefinite term of duration;
(b) variability and non-restriction of capital;
(c) independence from partisan politics;
(d) equality in the rights and obligations of the members;
(e) recognition of one (1) single vote to each member of first gra... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-ii/4390/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter II - Legal Capacity (§§ 4387 — 4396)›§ 4390 - Nature | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter II - Legal Capacity (§§ 4387 — 4396) › § 4390 - Nature | According to their nature, cooperatives may be comprised by workers, consumers, housing, and users and mixed groups, and may devote themselves to provide services or to production, or to both activities.
History —Sept. 1, 2004, No. 239, § 3.3. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-ii/4391/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter II - Legal Capacity (§§ 4387 — 4396)›§ 4391 - Powers | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter II - Legal Capacity (§§ 4387 — 4396) › § 4391 - Powers | Every cooperative organized under the provisions of this chapter is a juridical person. It may perform any kind of lawful activity that is proper or incidental to the achievement of its ends and purposes on equal footing with others subject to private law.
History —Sept. 1, 2004, No. 239, § 3.4. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-ii/4392/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter II - Legal Capacity (§§ 4387 — 4396)›§ 4392 - Specific powers | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter II - Legal Capacity (§§ 4387 — 4396) › § 4392 - Specific powers | Without it being construed as a limitation, every cooperative may:
(a) Carry out its activities in or outside of Puerto Rico, as the laws may permit;
(b) possess its own seal and alter it with the agreement of the Board;
(c) sue and be sued;
(d) execute all types of legal contracts;
(e) accept gifts, provided they do n... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-ii/4393/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter II - Legal Capacity (§§ 4387 — 4396)›§ 4393 - Denomination | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter II - Legal Capacity (§§ 4387 — 4396) › § 4393 - Denomination | The name of every cooperative must include the word “cooperative” or “coop” and the word or abbreviation that identifies its main activity. The use of the word “cooperative” or of a word or symbol that could give the impression that it is a cooperative, by any person or entity which is not organized pursuant to the pro... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-ii/4394/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter II - Legal Capacity (§§ 4387 — 4396)›§ 4394 - Cooperatives in formation | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter II - Legal Capacity (§§ 4387 — 4396) › § 4394 - Cooperatives in formation | Cooperatives in formation shall be those which, having initiated the procedure with the presentation of the incorporation papers, are not yet registered at the Department of State.
The period of formation shall not be more than one (1) year from the date of filing the articles of incorporation and the bylaws before the... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-ii/4395/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter II - Legal Capacity (§§ 4387 — 4396)›§ 4395 - Entities becoming cooperatives | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter II - Legal Capacity (§§ 4387 — 4396) › § 4395 - Entities becoming cooperatives | Partnerships and corporations in the process of becoming cooperatives through the initiative of their workers or users shall have the same rights and obligations as cooperatives in formation.
History —Sept. 1, 2004, No. 239, § 3.8. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-ii/4396/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter II - Legal Capacity (§§ 4387 — 4396)›§ 4396 - Relationships with other entities | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter II - Legal Capacity (§§ 4387 — 4396) › § 4396 - Relationships with other entities | A cooperative may own stock in other cooperatives, corporations or entities pursuant to § 4510 of this title.
History —Sept. 1, 2004, No. 239, § 3.9. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-iii/4400/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter III - Formation of the Cooperative (§§ 4400 — 4404)›§ 4400 - Number of persons required | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter III - Formation of the Cooperative (§§ 4400 — 4404) › § 4400 - Number of persons required | Eight (8) or more persons domiciled in Puerto Rico may incorporate [as] a cooperative provided they comply with the provisions of this chapter, with the exception of worker cooperatives, which may be formed by five (5) persons.
History —Sept. 1, 2004, No. 239, § 4.0. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-iii/4401/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter III - Formation of the Cooperative (§§ 4400 — 4404)›§ 4401 - Constituting assembly | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter III - Formation of the Cooperative (§§ 4400 — 4404) › § 4401 - Constituting assembly | Interested parties shall hold an assembly to consider and approve the articles of incorporation and the bylaws of the cooperative, and to elect the Board of Directors and a supervision committee.
History —Sept. 1, 2004, No. 239, § 4.1. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-iii/4402/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter III - Formation of the Cooperative (§§ 4400 — 4404)›§ 4402 - Constituting requirements | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter III - Formation of the Cooperative (§§ 4400 — 4404) › § 4402 - Constituting requirements | Any group that intends to organize as a cooperative shall file the necessary documents for its incorporation at the Cooperative Development Administration. Said documents are the articles of incorporation and the bylaws.
History —Sept. 1, 2004, No. 239, § 4.2. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-iii/4403/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter III - Formation of the Cooperative (§§ 4400 — 4404)›§ 4403 - Content of the articles | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter III - Formation of the Cooperative (§§ 4400 — 4404) › § 4403 - Content of the articles | The articles of incorporation of every cooperative shall include the following information:
(a) The name, which must accompany the word “cooperative” or an abbreviation thereof; it shall be such as not to be confused with that of any other cooperative, federation, league, association or corporation organized or doing b... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-iii/4404/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter III - Formation of the Cooperative (§§ 4400 — 4404)›§ 4404 - Content of the bylaws | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter III - Formation of the Cooperative (§§ 4400 — 4404) › § 4404 - Content of the bylaws | At the time the constituting assembly is held, the incorporators or members of the cooperative shall approve the bylaws of the cooperative which shall specify the provisions contained in the articles of incorporation. It shall also include such other provisions that the members deem convenient for the best operation of... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-iv/4410/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter IV - Official Recognition (§§ 4410 — 4416)›§ 4410 - Constituting documents—Presentation | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter IV - Official Recognition (§§ 4410 — 4416) › § 4410 - Constituting documents—Presentation | Upon initiating the steps for incorporation before the Cooperative Development Administration, it shall be presented with the original and two (2) copies of the articles of incorporation and the bylaws for the amount provided in this chapter for registration in the Department of State.
History —Sept. 1, 2004, No. 239, ... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-iv/4411/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter IV - Official Recognition (§§ 4410 — 4416)›§ 4411 - Constituting documents—Examination | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter IV - Official Recognition (§§ 4410 — 4416) › § 4411 - Constituting documents—Examination | The Cooperative Development Administration shall examine the constituting documents for compliance with all the requirements in this chapter, and to determine if any of the provisions contravene the laws of Puerto Rico. The Cooperative Development Administration shall submit the articles of incorporation to the Secreta... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-iv/4412/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter IV - Official Recognition (§§ 4410 — 4416)›§ 4412 - Legal objections | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter IV - Official Recognition (§§ 4410 — 4416) › § 4412 - Legal objections | The Cooperative Development Administration may refuse to submit the articles of incorporation for their registration when the group interested in organizing the cooperative fails to comply with the requirements established by law, provided that, it notifies the interested parties of the deficiencies found and explains ... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-iv/4413/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter IV - Official Recognition (§§ 4410 — 4416)›§ 4413 - No response | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter IV - Official Recognition (§§ 4410 — 4416) › § 4413 - No response | In case the Cooperative Development Administration has not discharged its duties within the specified term, the incorporators may submit the articles of incorporation directly to the Department of State, which, after verifying due compliance with the law, shall file said articles of incorporation and issue the correspo... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-iv/4414/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter IV - Official Recognition (§§ 4410 — 4416)›§ 4414 - Registration | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter IV - Official Recognition (§§ 4410 — 4416) › § 4414 - Registration | The cooperative shall be duly constituted when the Department of State registers its articles of incorporation and issues the corresponding certificate of registration.
History —Sept. 1, 2004, No. 239, § 5.4. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-iv/4415/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter IV - Official Recognition (§§ 4410 — 4416)›§ 4415 - Initiation of activities | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter IV - Official Recognition (§§ 4410 — 4416) › § 4415 - Initiation of activities | The cooperative may begin its operations officially when the Department of State has registered its articles of incorporation. The Cooperative Development Administration shall forward the certificate of registration and two (2) copies of the articles of incorporation and the bylaws to every duly constituted cooperative... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-iv/4416/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter IV - Official Recognition (§§ 4410 — 4416)›§ 4416 - Confirmation of acts | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter IV - Official Recognition (§§ 4410 — 4416) › § 4416 - Confirmation of acts | The acts held and the documents signed on behalf of the cooperative before it has been legally constituted may be confirmed if ratified by the first subsequently held general assembly of members.
History —Sept. 1, 2004, No. 239, § 5.6. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-v/4420/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter V - Amendments to the Articles and the Bylaws (§§ 4420 — 4423)›§ 4420 - Amendments to the articles and the bylaws | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter V - Amendments to the Articles and the Bylaws (§§ 4420 — 4423) › § 4420 - Amendments to the articles and the bylaws | The articles of incorporation and the bylaws of the cooperative may be amended at any regular general assembly or at any special general assembly held for such a purpose. Amendments must be approved by the vote of two-thirds (⅔) of the members present, or by two-thirds (⅔) of the delegates present in cooperatives organ... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-v/4421/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter V - Amendments to the Articles and the Bylaws (§§ 4420 — 4423)›§ 4421 - Notice to the members | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter V - Amendments to the Articles and the Bylaws (§§ 4420 — 4423) › § 4421 - Notice to the members | The Board of Directors shall notify the members or delegates, as the case may be, of the proposed amendments no later than ten (10) days before the assembly. For cooperatives organized by district, the Board of Directors shall notify all the members of the amendments proposed and grant them the opportunity to discuss t... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-v/4422/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter V - Amendments to the Articles and the Bylaws (§§ 4420 — 4423)›§ 4422 - Approval by the Inspector | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter V - Amendments to the Articles and the Bylaws (§§ 4420 — 4423) › § 4422 - Approval by the Inspector | The original and two (2) copies of the amendments to the articles of incorporation or to the bylaws, certified by the Secretary of the cooperative, shall be sent to the Inspector of Cooperatives. Said amendments shall take effect once they are approved by the Inspector of Cooperatives, who shall have a prescriptive ter... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-v/4423/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter V - Amendments to the Articles and the Bylaws (§§ 4420 — 4423)›§ 4423 - No response | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter V - Amendments to the Articles and the Bylaws (§§ 4420 — 4423) › § 4423 - No response | In case the Office of the Inspector of Cooperatives has not performed his duty within the specified term, the interested parties may submit the amendments to the articles of incorporation directly to the Department of State for the Secretary to acknowledge that the documents comply with the legal requirements and there... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4430/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4430 - Membership in a cooperative | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4430 - Membership in a cooperative | A person becomes a member of a cooperative by participating in the act of incorporation or through a resolution of the Board accepting his/her admission at the request of the interested party.
History —Sept. 1, 2004, No. 239, § 7.0. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4431/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4431 - Requirements | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4431 - Requirements | In order to become a member of a cooperative the following requirements must be met:
(a) To have legal capacity, and
(b) to meet the requirements of this chapter and of the articles and bylaws of the cooperative, and not to be a for profit juridical person.
History —Sept. 1, 2004, No. 239, § 7.1. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4432/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4432 - Conditions for membership | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4432 - Conditions for membership | Admission as a member of a cooperative shall not be denied to any person by reason of race, gender, citizenship, religious or political beliefs, or social or economic position. Eligibility of members may be defined as groups of similar members exercising their constitutional right to free association. The Board may den... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4433/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4433 - Rejection of application; review | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4433 - Rejection of application; review | Should the Board of Directors reject an application for admission and the applicant deems that the decision is contrary to the law and the articles of incorporation of the cooperative, he/she may request a reconsideration of the decision before the supervision committee. The supervision committee shall prepare and subm... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4434/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4434 - Register of members and others | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4434 - Register of members and others | Cooperatives shall prepare and keep an updated register of members, which shall include the following information:
(a) Name, address and occupation of each of the members, after duly verifying the credentials and identity of said members;
(b) the number of shares owned by each member, with the corresponding series, sho... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4435/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4435 - Acceptance of preceding conditions | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4435 - Acceptance of preceding conditions | All members shall accept the obligations incurred by the cooperative prior to their admission thereto.
History —Sept. 1, 2004, No. 239, § 8.0. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4436/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4436 - Voting | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4436 - Voting | Every member shall be entitled to cast one (1) vote, regardless of his/her interest, number of shares or contributions to the cooperative. Voting by proxy is prohibited, except to determine quorum when a second regular general assembly is convened.
History —Sept. 1, 2004, No. 239, § 8.1. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4437/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4437 - Inspection of books | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4437 - Inspection of books | Any member, upon prior written request to the Board of Directors, may inspect the books and registers of his/her cooperative in the main office of the cooperative, during working hours that will not impair or interrupt the business, activities and services of the cooperative. This authorization does not include the rig... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4438/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4438 - Rights | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4438 - Rights | In addition to all the rights granted by this chapter and by the articles, members shall have the following rights:
(a) To participate with voice and vote in all assemblies on an equal basis;
(b) to nominate candidates, elect and be elected to office in the Board of Directors, the supervision committee and auxiliary co... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4439/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4439 - Duties | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4439 - Duties | All members must comply with the obligations imposed by this chapter, the articles and the bylaws and with:
(a) Any contract, or corporate or monetary obligation with the cooperative;
(b) the agreements of the assembly and its board;
(c) hold office as elected, and
(d) protect the interests of his/her cooperative.
Hist... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4440/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4440 - Members of two (2) or more cooperatives | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4440 - Members of two (2) or more cooperatives | Any person may be a member of one (1) or more cooperatives. However, his/her rights and obligations may be subject to the measures adopted by the cooperatives in order to avoid conflicting situations.
History —Sept. 1, 2004, No. 239, § 8.5. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4441/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4441 - Termination | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4441 - Termination | The members of a cooperative may be dismissed and deprived of their rights when they incur one or more of the following causes:
(a) Death of the member;
(b) resignation of the member;
(c) expulsion of the member, or
(d) dissolution of the cooperative.
History —Sept. 1, 2004, No. 239, § 9.0. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4442/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4442 - Resignation or voluntary retirement | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4442 - Resignation or voluntary retirement | Any member of a cooperative may voluntarily retire from the aforesaid, except when he/she holds office as a director of the cooperative, in which case he/she shall be subject to the limitations established in this chapter and in the bylaws of the cooperative.
History —Sept. 1, 2004, No. 239, § 9.1. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4443/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4443 - Submission of resignation | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4443 - Submission of resignation | When a member wishes to terminate his/her relationship with the cooperative, he/she shall submit his/her resignation in writing to the Board of Directors.
History —Sept. 1, 2004, No. 239, § 9.2. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4444/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4444 - Adverse decision concerning resignation | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4444 - Adverse decision concerning resignation | When the resignation and voluntary retirement of a member adversely affect the financial interests of the cooperative, its Board of Directors shall make a decision regarding said retirement so that it does not substantially impair the operations and services of the cooperative. When the cooperative has issued preferred... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4445/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4445 - Causes for removal of members | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4445 - Causes for removal of members | The Board of Directors may remove or expel a member from the cooperative when it considers that the member incurs one or more of the following causes:
(a) Has acted contrary to the interests of the cooperative or its objectives and purposes;
(b) has been delinquent in complying with his/her obligations with the coopera... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4446/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4446 - Separation procedure | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4446 - Separation procedure | When the Board determines that there is cause for action to remove a member, it shall notify the member thus affected by certified mail, specifying causes for the same. Said notice shall summon the member to appear before the Board, which shall hold an administrative hearing within a term of not less than ten (10) days... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4447/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4447 - Review of the decision to separate | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4447 - Review of the decision to separate | Within a term of ten (10) days from the date in which said member has been notified of his/her separation, the removed or expelled member may request the Board to include his/her case in the agenda of the next general assembly of members, for said assembly to review the case and decide upon it. The member may appear ac... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vi/4448/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VI - Members (§§ 4430 — 4448)›§ 4448 - Liability for debt contracted | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VI - Members (§§ 4430 — 4448) › § 4448 - Liability for debt contracted | Any person who has ceased to be a member of the cooperative shall continue to be liable for any debt contracted with the cooperative that is greater than the corresponding liquidation payment.
History —Sept. 1, 2004, No. 239, § 9.7. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vii/4450/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VII - Assemblies (§§ 4450 — 4458)›§ 4450 - Authority | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VII - Assemblies (§§ 4450 — 4458) › § 4450 - Authority | The general assembly, regular or special, is the maximum authority of the cooperative and its decisions are binding for the Board of Directors, the committees and all its members, present or absent, provided that the same have been adopted pursuant to the articles of incorporation, the bylaws and the applicable laws.
T... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vii/4451/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VII - Assemblies (§§ 4450 — 4458)›§ 4451 - Classification | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VII - Assemblies (§§ 4450 — 4458) › § 4451 - Classification | Assemblies held by the cooperatives may be:
(a) General assemblies of members;
(b) general assemblies of cooperatives organized by districts, constituted by delegates;
(c) district assemblies, or
(d) special assemblies.
History —Sept. 1, 2004, No. 239, § 10.1. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vii/4452/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VII - Assemblies (§§ 4450 — 4458)›§ 4452 - Notice | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VII - Assemblies (§§ 4450 — 4458) › § 4452 - Notice | The notice for the holding of an assembly shall be sent in writing to every member to his/her last known address at least ten (10) days prior to the date set for the holding of the assembly, unless the articles of incorporation or the bylaws provide a longer term.
History —Sept. 1, 2004, No. 239, § 10.2. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vii/4453/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VII - Assemblies (§§ 4450 — 4458)›§ 4453 - Matters of the exclusive jurisdiction | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VII - Assemblies (§§ 4450 — 4458) › § 4453 - Matters of the exclusive jurisdiction | It is of the exclusive jurisdiction of the assembly, provided that the provisions of this chapter are not contradicted:
(a) To approve and modify the articles of incorporation and the bylaws;
(b) to elect and remove the members of the Board of Directors and the supervision committees;
(c) to ratify or reject the recomm... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vii/4454/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VII - Assemblies (§§ 4450 — 4458)›§ 4454 - Challenges to the determinations | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VII - Assemblies (§§ 4450 — 4458) › § 4454 - Challenges to the determinations | Any challenge to the determinations of the assemblies shall handled by the Office of the Inspector of Cooperatives.
History —Sept. 1, 2004, No. 239, § 10.4. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vii/4455/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VII - Assemblies (§§ 4450 — 4458)›§ 4455 - General assembly of members | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VII - Assemblies (§§ 4450 — 4458) › § 4455 - General assembly of members | (a) Definition. — A general assembly of members shall be that meeting which is open to all members of the cooperative who, according to its bylaws, qualify as such.
(b) Obligation to hold assemblies. — Every cooperative that is not organized by districts shall hold at least one (1) general assembly of members annually.... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vii/4456/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VII - Assemblies (§§ 4450 — 4458)›§ 4456 - District Assembly | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VII - Assemblies (§§ 4450 — 4458) › § 4456 - District Assembly | (a) Division. — The bylaws of the cooperative may provide for the division by districts of the territory where its members reside.
(b) Assemblies. — The members of each district shall hold at least one (1) assembly every year, and such special assemblies as may be duly convoked by the Board of Directors of the cooperat... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vii/4457/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VII - Assemblies (§§ 4450 — 4458)›§ 4457 - Special assemblies—Notice | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VII - Assemblies (§§ 4450 — 4458) › § 4457 - Special assemblies—Notice | The Board of Directors may convoke general or district special assemblies, when it deems it convenient.
The Board of Directors shall be bound to convoke special assemblies when requested by:
(a) Ten percent (10%) of the total number of members of the cooperative, when it is a matter of a general assembly of members;
(b... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-vii/4458/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VII - Assemblies (§§ 4450 — 4458)›§ 4458 - Special assemblies—Quorum | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VII - Assemblies (§§ 4450 — 4458) › § 4458 - Special assemblies—Quorum | The number [of] members needed to legally constitute a special assembly shall be the same as that required for regular assemblies according to their classification.
History —Sept. 1, 2004, No. 239, § 13.1. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4460/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4460 - Requirements | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4460 - Requirements | The Board and Supervisory Committee shall be constituted by members who meet the following requirements:
(a) Have not been convicted of a felony or misdemeanor involving fraud, breach of trust or moral turpitude. The members of those cooperatives that are formed to serve the inmate and ex-inmate populations and that pr... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4461/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4461 - Terms of office | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4461 - Terms of office | The terms of office of the members of the Board of Directors and the supervision committee shall be for a minimum of one (1) year and a maximum of three (3) consecutive years. A term of twenty-four (24) months must elapse for a person who has been elected for three (3) consecutive terms to aspire to office as a directo... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4462/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4462 - Staggered election | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4462 - Staggered election | The bylaws of the cooperative shall provide for the staggered election of the members of the Board and the supervision committee so that the terms of office of the members of said bodies do not expire in the same year. In the case that a director ceases to be in office prior to the end of his/her term, the director who... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4463/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4463 - List of directors and committee members | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4463 - List of directors and committee members | Cooperatives must remit to the Inspector of Cooperatives, the Cooperative Development Administration and the League of Cooperatives a complete list of the members of the Board, indicating the position, if any, of the members of the supervision committee and of any other standing committee established by regulations.
Sa... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4464/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4464 - Reasons for the separation of directors and committee members | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4464 - Reasons for the separation of directors and committee members | Any member or official of the Board, of the supervision committee or of any other standing committee may be separated from office for the following reasons:
(a) Incurs any of the acts which are cause for separation of members from a cooperative, as provided for by this chapter.
(b) Violation of the provisions of this c... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4465/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4465 - Directors; number and requirements | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4465 - Directors; number and requirements | All matters of the cooperative shall be directed by a Board of Directors constituted by an odd number of members, not less than three (3) nor more than eleven (11), elected by the members in an assembly.
History —Sept. 1, 2004, No. 239, § 15.0. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4466/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4466 - Constitution | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4466 - Constitution | The Board shall meet within ten (10) days following the date on which the general assembly is held to elect its officers from among its members. In the case of cooperatives organized by district, the directors elected in such districts shall take office in the constituting assembly.
History —Sept. 1, 2004, No. 239, § 1... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4467/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4467 - Officers | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4467 - Officers | The officers of the Board of Directors shall be the Chairperson, the Secretary, the Treasurer and any other provided in the bylaws.
History —Sept. 1, 2004, No. 239, § 15.2. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4468/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4468 - Duties | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4468 - Duties | The Board of Directors shall have the following duties, among others:
(a) Shall be responsible for defining and adapting the institutional policies of the cooperative; they shall have fiduciary responsibility towards the same and its members and shall act as a reasonable person in all matters pertaining to the cooperat... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4469/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4469 - Executive committee | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4469 - Executive committee | The directors of a cooperative may appoint an executive committee constituted by not less than three (3) members of the Board. Said committee shall execute the agreements of the Board of Directors and whatever the bylaws entrusts to them.
History —Sept. 1, 2004, No. 239, § 15.4. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4470/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4470 - Exercise of powers | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4470 - Exercise of powers | The directors shall exercise their powers through the Board. The decisions of the Board shall be made by the agreement of the majority of voting directors who participate in the duly notified and constituted meetings.
However, every decision shall be valid when adopted at a meeting at which all directors are present an... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4471/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4471 - Quorum | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4471 - Quorum | Quorum for said meetings shall be the absolute majority of the total number of directors in office.
History —Sept. 1, 2004, No. 239, § 15.6. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4472/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4472 - Rules of operation | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4472 - Rules of operation | The Board shall adopt rules for the internal operation, which must contain procedural rules, definitions of duties and tasks, and on the drafting and preservation of the minutes.
History —Sept. 1, 2004, No. 239, § 15.7. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4473/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4473 - Duties of the chairperson of the Board | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4473 - Duties of the chairperson of the Board | The Chairperson of the Board of Directors, pursuant to the agreements and policies established by the Board of Directors of the cooperative, shall have the following duties:
(a) Legal representation of the cooperative, which may be delegated to one (1) or more of the members, pursuant to what is established in the byla... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4474/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4474 - Vacancies | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4474 - Vacancies | Vacancies arising among the members of the Board shall be covered by the majority vote of the remaining members at a meeting duly constituted for such a purpose.
When the cooperative is organized by districts and the member creating the vacancy is a district director, said vacancy shall be covered by the Board with ano... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4475/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4475 - Removal of officers | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4475 - Removal of officers | Two-thirds (2 / 3) of the members of the Board may, by means of a written petition filed before the Secretary or the Chairperson of the Board, remove a director from the position he/she holds as an officer of the Board. From the time the petition is filed, the director shall cease to exercise the designated position as... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4476/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4476 - Dismissal of directors | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4476 - Dismissal of directors | Any member may initiate dismissal proceedings against a director by filing a written petition before the Secretary or the Chairperson of the cooperative and with a copy to be remitted to the supervision committee, signed by five percent (5%) of the remaining members of the members, stating the charges brought against s... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4477/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4477 - Dismissal; procedure before the assembly | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4477 - Dismissal; procedure before the assembly | The director facing charges leading to his/her dismissal from the Board shall be notified in writing of said charges within not less than (10) days prior to an assembly. Said director shall have the opportunity to be heard at the assembly, in person or through his/her attorney, and to offer evidence. The person or pers... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4478/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4478 - Supervision committee—Designation; powers | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4478 - Supervision committee—Designation; powers | The bylaws of the cooperative shall provide for the designation of a supervision committee, whose members shall be elected in the general assemblies. Any person who has been in office as director for a term shall not be eligible for the supervision committee until one year has elapsed from the end of the term of his/he... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4479/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4479 - Supervision committee—Election | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4479 - Supervision committee—Election | A supervision committee, constituted by not less than three (3) persons shall be elected in the general assemblies of each cooperative.
History —Sept. 1, 2004, No. 239, § 16.1. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4480/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4480 - Supervision committee—Obligations and powers | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4480 - Supervision committee—Obligations and powers | The supervision committee shall have the following duties and powers:
(a) Elect, from within its members, a chairperson, vice-president and secretary, and accept the dismissal or the resignation of its members.
(b) Establish the internal rules of procedure of the committee.
(c) Perform internal and external interventio... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4481/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4481 - Supervision committee—Dismissal | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4481 - Supervision committee—Dismissal | Members of the supervision committee may be dismissed from office during any general assembly of members or delegates, after charges have been filed against them and duly notified.
The same process established by law for the Board of Directors shall be followed.
History —Sept. 1, 2004, No. 239, § 16.3. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4482/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4482 - Education committee—Appointment and duties | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4482 - Education committee—Appointment and duties | The Board may appoint an education committee, whose duties, in addition to those established in the bylaws of the cooperative, shall be the following:
(1) Pursuant to the policies established by the Board, to prepare an education plan containing the following:
(a) Address the training needs of the directors and members... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4483/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4483 - Education committee—Vacancies | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4483 - Education committee—Vacancies | When a vacancy arises in the education committee, said vacancy shall be filled by the Board of Directors each year.
History —Sept. 1, 2004, No. 239, § 16.5. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4484/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4484 - Chief executive—Appointment | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4484 - Chief executive—Appointment | The Board of Directors shall be in charge of appointing the chief executive of the cooperative, who shall report to the Board of Directors. Said appointment shall be formalized in a contract signed by both parties.
History —Sept. 1, 2004, No. 239, § 17.0. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4485/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4485 - Chief executive—Duties | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4485 - Chief executive—Duties | Pursuant to the institutional policies adopted by the Board of Directors of the cooperative, the chief executive shall have the following duties and responsibilities:
(a) Exercise administrative representation of the cooperative in matters concerning business transactions and as an employer;
(b) on behalf of the cooper... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4486/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4486 - Chief executive—Bond | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4486 - Chief executive—Bond | Before taking office, the chief executive shall post a bond to ensure proper compliance of his/her responsibilities towards the cooperative. The amount and the type of the bond shall be established by regulations promulgated by the Inspector of Cooperatives for such purposes.
History —Sept. 1, 2004, No. 239, § 17.2. |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-viii/4487/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487)›§ 4487 - Chief executive—Responsibilities | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter VIII - Directors, Officers and Committees (§§ 4460 — 4487) › § 4487 - Chief executive—Responsibilities | The chief executive shall be liable to the cooperative for any of the following causes:
(a) Damages caused to the cooperative itself for his/her noncompliance of obligations, gross negligence, deceit or abuse of power;
(b) the existence, regularity and veracity of the books and other documents which must be kept by the... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-ix/4490/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter IX - Prohibitions; Conflicts of Interest (§§ 4490 — 4492)›§ 4490 - Fiduciary duties and conflicts of interest | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter IX - Prohibitions; Conflicts of Interest (§§ 4490 — 4492) › § 4490 - Fiduciary duties and conflicts of interest | (a) The members of the directing bodies of a cooperative are subject to fiduciary duties toward the cooperative. Said fiduciary duties include the duty of due diligence, loyalty toward the cooperative as were as and the duty to oversee and care, as a responsible person would, for the assets and operations of the cooper... |
https://law.justia.com/codes/puerto-rico/title-five/chapter-102/subchapter-ix/4491/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE FIVE - Agriculture (§§ 1 — 4706)›Chapter 102 - General Cooperative Associations Act (2004)›Subchapter IX - Prohibitions; Conflicts of Interest (§§ 4490 — 4492)›§ 4491 - Compensation | 2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter IX - Prohibitions; Conflicts of Interest (§§ 4490 — 4492) › § 4491 - Compensation | The members of the Board, the supervising, credit or education committees, or the members of any other committee elected by the general assembly shall receive no compensation or remuneration whatsoever for the performance of their duties. However, they may be reimbursed for expenses actually incurred in the performance... |
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