P.R. Laws tit. 7, § 1334f
All members of the Board and the Executive President shall be subject to the provisions of §§ 1801 et seq. of Title 3, known as the “Ethics in Government Act of the Commonwealth of Puerto Rico”. In addition to the foregoing, Cooperative Movement representatives shall refrain from discussing, analyzing, considering, evaluating or otherwise participating in matters that pertain to the institutions in which they work as executive officials or members of directing bodies.
No member of the Board or the Executive President shall disclose or use information or documents acquired in the course of the discharge of their functions for purposes extrinsic to such discharge. All members of the Board and the Executive President shall maintain the confidentiality of matters relative to their functions, unless there is a petition that requires the disclosure of an issue and such disclosure is allowed by the competent authority. None of these ethical or fiduciary obligations shall bar Cooperative Movement representatives from freely discussing with cooperatives and their leaders, any matters of public policy, regulations, and development of the Cooperative Movement not related to specific situations, cases or circumstances of any particular cooperatives or persons or to the internal operations of the Corporation.
Neither the Board of Directors of the Corporation nor its directors or the Executive President individually, shall incur financial liability for any action taken in the performance of their duties and powers under this chapter, provided they do not act intentionally, illegally and knowing that they may cause damage, or for their own benefit or that of a third party.
History —Aug. 17, 2001, No. 114, § 8; Aug. 10, 2008, No. 247, § 22, eff. Feb. 1, 2009.