P.R. Laws tit. 5, § 4422
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 term of forty-five (45) days from the date the documents are filed at his/her Office to notify the cooperative concerned their approval or denial, pursuant to the provisions of this chapter. In the case of a denial, the reasons for said denial shall be stated. A copy of the approved amendments and of the decision made by the Inspector of Cooperatives shall be sent to the Cooperative Development Administration. Amendments to the articles of incorporation shall be filed before the Department of State to be duly registered.
History —Sept. 1, 2004, No. 239, § 6.2.