P.R. Laws tit. 5, § 4470
2019-02-20 00:00:00+00
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 and sign a waiver of compliance with the requirement to give notice of the meeting. Said waiver must be included in the minutes of the meeting.
History —Sept. 1, 2004, No. 239, § 15.5.