P.R. Laws tit. 5, § 4507
2019-02-20 00:00:00+00
When the cooperative is operating with losses, it must distribute said losses among the shares issued in case of any withdrawal of shares. The cooperative shall not disburse more for a withdrawn share than its real value, calculated taking into consideration the accrued reserves on the date of the last closing of the books. This section does not apply to housing cooperatives.
History —Sept. 1, 2004, No. 239, § 19.7.