P.R. Laws tit. 7, § 1334k
Every insured cooperative shall submit to the Corporation, on June 30 of each year, a financial statement that shows its financial situation and shall indicate the balance of the shares and deposits accounts of the members pursuant to the norms established by the Corporation. Those balances must coincide with those in the report that is required by this chapter, in order to determine the premium to be paid by the Cooperative.
Pursuant to the provisions of § 1334e of this title, the Corporation shall establish through regulations, the dates and frequency these financial statements are to be rendered, the forms to be used, the persons bound to certify them, the information to be included or enclosed and any other convenient data or information in order to comply with the purposes of this chapter.
The Corporation may require any insured cooperative to render other financial reports or of another type to be aware of its situation and to determine the risk of financial loss that said cooperative could represent to the shares and deposits insurance. The Corporation may also require them to publish their annual financial statements in the form deemed most convenient to the public interest.
History —Aug. 17, 2001, No. 114, § 13.