P.R. Laws tit. 7, § 1363e
The corporate clauses and the general regulations of the cooperative may be amended at any general regular or extraordinary assembly. The amendments must be approved by a two-thirds vote of the members present, and in the case of cooperatives organized by district, with the vote of two-thirds (2 / 3) of the delegates present.
The Board shall notify all the members of the cooperative of the holding of the assembly that shall consider amendments to the general regulations or the corporate clauses, at least twenty (20) days beforehand. Said notice shall expressly indicate the intention of amending the general regulations or the incorporation clauses, identify the sections or articles of the regulations that shall be subject to amendments and the nature thereof, and indicate that a complete copy of the texts of the proposed amendments shall be available, free of charge, to every member in any of the branches and service offices of the cooperative, as of the notice, and also at the entrance to the assembly. In the case of the cooperatives organized by districts, the complete texts of the amendments shall be remitted to the delegates along with the notice of the proposed amendments, and all members shall be guaranteed the opportunity to present their viewpoints on the proposed amendments in their respective district assembly, if it has been convoked, or through its delegates in the assembly of delegates.
The original and two (2) copies of the amendments to the corporate clauses, or the general regulations, duly certified by the Secretary of the cooperative, shall be filed before the Corporation, along with a certification signed by the Chairperson of the Board of Directors, to the effect that the amendments are consonant with the provisions of this chapter, §§ 1334 et seq. of this title, and the regulations adopted by virtue thereof. Once they are filed before the Corporation, the cooperative shall submit the amendments to the corporate clauses to the Secretary of State for registration. Provided, That they shall become effective on the date of said registration. In the case of the amendments to the general regulations, they shall be filed in the cooperative’s files as soon as they are received by the Corporation, and shall become effective on the date of said registration. In the case of amendments to the general regulations, they shall be filed in the cooperative’s files as soon as they are received by the Corporation, and shall become effective on the registration date.
History —Oct. 28, 2002, No. 255, § 3.06.