P.R. Laws tit. 7, § 1365h
The members of the Board shall be responsible for the definition and adoption of the institutional policies of the cooperative, shall have a fiduciary responsibility towards it and its members, and shall act as a good paterfamilias in all cooperative affairs.
The Board of each cooperative shall meet within ten (10) days following the date the corresponding general assembly of members or delegates was held, to elect the officers of the Board of Directors, pursuant to what is established in the general regulations thereof. The directors who have held said office as director for one (1) year or more, and have approved [sic] the training courses required in subsection (k) of § 1365d of this title, shall be eligible to hold official positions on the Board.
History —Oct. 28, 2002, No. 255, § 5.09.