P.R. Laws tit. 5, § 4485
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 cooperative, sign those contracts that correspond to the responsibilities delegated on him/her by the Board of Directors;
(c) implement the institutional policies adopted by the Board;
(d) select, hire, evaluate and remove personnel of the cooperative pursuant to labor laws, the policies of the cooperative and the budget approved by the Board of Directors. He/she shall also be responsible for the coordination and supervision of the administrative areas and for ensuring the efficiency of the managerial and financial procedures of the cooperative;
(e) prepare and implement the regulation compliance programs to ensure faithful compliance with local and federal laws and regulations that apply to the operations of the entity;
(f) prepare the projected budget, which shall be submitted to the Board of Directors for its consideration and approval prior to the beginning of the operating year of the cooperative;
(g) keep the Board of Directors informed on the operational, administrative and financial status of the cooperative, for which he/she shall render regular monthly reports to the Board of Directors, as well as any other special reports as he/she or the Board of Directors deem warranted;
(h) perform any other tasks within the scope of his/her duties, pursuant to the signed contract;
(i) advise the directing bodies on administrative matters related to the purposes, objectives and nature of the cooperative, and
(j) be the custodian of the books and registers of the cooperative, except of those which are the responsibility of the Board of Directors.
History —Sept. 1, 2004, No. 239, § 17.1.