P.R. Laws tit. 5, § 914
There is hereby created a revolving fund which shall be known as the “Cooperative Auditing Fund”, which shall be nourished from the appropriation provided in § 913 of this title, from the sums collected from cooperatives for services rendered in accordance with the provisions hereof, and from those monies whose source is authorized by any other legislation.
The Inspector of Cooperatives is hereby authorized, subject to the approval of the Management and Budget Office, to dispose of one hundred percent (100%) of the income of the Fund, for personnel, rental, equipment, transportation and supplies that, on his judgment are necessary to comply with the purposes and functions of the Office.
The Inspector of Cooperatives shall see that as of June 30 of each year, liquid resources equivalent to at least ten percent (10%) of the total budgeted expenses to be charged against said Fund.
History —May 13, 1949, No. 312, p. 944, § 5; Nov. 29, 1990, No. 16, p. 1467, § 2; June 15, 2003, No. 138, §§ 1, 2.