P.R. Laws tit. 7, § 1365j
Acting in accordance with the institutional policies adopted by the Board of Directors of the cooperative, the Executive President shall have the following functions and responsibilities:
(a) Implement the institutional policies adopted by the Board.
(b) Select, recruit, supervise, evaluate and remove all personnel of the cooperative pursuant to the institutional policies adopted by the Board. He/she shall also have the responsibility of coordinating and supervising the administrative units and ensure the efficiency of the managerial and financial procedures.
(c) Develop and implement a management training and cooperative education program that shall cover the technical areas of administration, marketing, accounting and finances and inform them on the principles and philosophy of the cooperative movement.
(d) Draft and establish the regulatory compliance programs to guarantee faithful compliance with the local and federal laws and regulations that apply to the operations of the institution.
(e) Draft the business plan of the cooperative which shall propitiate [sic] an adequate and sustained financial performance through the adoption of measurable operational goals, strategies and objectives that shall provide guidance to the cooperative. If deemed appropriate, the Executive President shall identify the external professional resources to assist him/her in drafting said plan, which contracting shall comply with the contracting norms and policies of the institution. Said plan shall require the final approval of the Board of Directors. The Executive President shall exercise administrative authority to implement the institutional policy agreements and the directives of the business plan of the institution, and draft the annual schedule of work that corresponds to the achievement of the goals, strategies and objectives of the business plan of the cooperative.
(f) Develop the budget proposal which shall be submitted to the Board of Directors for its consideration and approval, before commencing the operating year of the cooperative.
(g) Keep the Board of Directors informed on the operational, administrative and financial condition of the cooperative, through regular monthly reports to the Board of Directors, as well as any other special reports that in his/her judgment, or that of the Board of Directors, should be submitted.
History —Oct. 28, 2002, No. 255, § 5.11.