P.R. Laws tit. 5, § 4623
The Cooperative Development Administration, in consultation with the League of Cooperatives, shall promote the creation of housing cooperatives submitted to this regime and in common agreement shall prepare the necessary regulation for such purpose. These regulations shall be designated as the “general regulations”, and shall establish all matters that are mandatory to the cooperatives submitted to this regime. It shall provide guidelines on the manner in which the mandatory contributions shall be distributed among the members, including shares and fees, common area and housing unit expenses, and the capitalization and conservation of the cooperative assets, as well as exceptions to the restrictions on owning pets. It shall determine the rules on the notification and holding of assemblies, quorum and the definition of majority. It shall also establish the percentages for approval required to approve different matters. It shall determine the rules for the use and assignment of parking spaces, access control, surveillance and security, counseling and social work, and matters regarding mandatory insurance, recreational and cultural activities, quality standards, physical inspections in the real property for both common and private areas when necessary for the security and repair of common areas, and it shall also include a plan for community education in which the legal implications of the regime shall be included.
It shall also address the parameters to be followed in the contracting of administrators, including their qualifications and certification. It shall establish the reserves necessary for the sound operations and financial solidity of this particular regime, in addition to those matters already established in this chapter, the mechanisms to ensure that the sale offers to third parties are bona fide and reasonable, the formula for determining the charges to be collected when the housing unit is acquired by the cooperative, the formula to calculate the percentage of the maintenance fees assigned to the reserve for the acquisition of housing units by the cooperative, and the norms for the regulation of liens on the housing units. The general regulations shall address those aspects related to restrictions on property rights, including their transfer, allowed liens, procedures for grievances and conflict resolution, delinquency in payments, rules of conduct and their adjudication procedures when not provided in this chapter and which do not affect the constitutional rights of the parties. It shall provide on the rights of heirs, surviving spouses or ex spouses in the event of the death or divorce of the member, including cases of consensual relationships in which the conjugal partnership is established. It shall also establish norms on any other matters necessary for the implementation of this chapter.
This regulation shall contain the model for the master deed and the individual deed that cooperatives shall use as basis for their constituting deeds. The bylaws of the cooperatives shall be established pursuant to these general regulations and any provision in contravention shall be null and void. The adoption of this regulation shall be carried out pursuant to the provisions of §§ 2101 et seq. of Title 3, known as the “Uniform Administrative Procedures Act”.
History —Sept. 1, 2004, No. 239, § 35A.33.