P.R. Laws tit. 5, § 4647a
(1) The Inspector shall examine the operations of all youth cooperatives incorporated and operating in Puerto Rico at least once a year. Said examination shall have a non-punitive, educational and informational purpose through which the auditor together with the workshop students shall channel all the elements of a sound administration and shall prepare an audit report directed to the establishment of the operational strong and weak points of the cooperative and of a plan for the continuous development of said cooperatives.
(2) Said examination, as well as any other consultation, shall be free of charge for all youth cooperatives, it being considered a public service for all purposes of law.
(3) The examination to be prepared by the Inspector of Cooperatives together with the youth cooperatives shall be made solely under the parameters established in this section and on the basis of §§ 1701 et seq. of Title 18, known as the “Special Act for Youth Cooperatives”.
(4) Furthermore, the Office of the Inspector of Cooperatives shall annually prepare a Financial Statement of the youth cooperatives operating in Puerto Rico, which shall contain the following information:
(a) Operational statement of youth cooperatives.
(b) Significant achievements.
(c) Factors that limit development.
(d) Details regarding government, cooperative, community and private support provided to the youth cooperative.
[Provided, That] said Financial Statement shall be submitted by September 30, of each year to the Committees of the Legislature of Puerto Rico with jurisdiction over cooperatives, to the Office of the Governor, to the Cooperative Development Administration, to the Youth Affairs Office, to the Department of Education, to the Cooperative Investment and Development Fund, to the Cooperativism Institute of the University of Puerto Rico and to the Puerto Rico League of Cooperatives.
(5) Department of Education and the Cooperative Development Administration shall have the responsibility of facilitating and collaborating with the examination process of youth cooperatives.
History —Sept. 1, 2004, No. 239, added as § 36.2-A on June 12, 2008, No. 88, § 1.