P.R. Laws tit. 4, § 699
(a) Not more than ten percent (10%) of IOLTA funds shall be used to defray the Fund’s operating and administrative expenses in any fiscal year.
(b) The Administrative Board shall appoint an Executive Director to direct the works of the Fund and additional officials as are necessary to perform its functions. The Administrative Board may terminate the services of these officials when it deems it appropriate in accordance with the applicable labor laws.
(c) The Fund is hereby granted an initial one-time appropriation of three hundred thousand dollars ($300,000) to begin its administrative operations. Beginning Fiscal Year 2013-2014, the Secretary of the Treasury shall request annually, independently from its budget appropriation, two hundred thousand dollars ($200,000) for the annual operations of the Fund.
(d) The Administrative Board is hereby authorized to establish infrastructure as necessary to achieve the purposes of this chapter. It is hereby provided that the nonprofit entity to be established shall not be a Government Agency, and that, once it is established, such nonprofit entity shall be empowered to request the funds provided in subsection (c) of this section.
History —Dec. 26, 2013, No. 165, § 6; Apr. 25, 2015, No. 56, § 1.