P.R. Laws tit. 7, § 1365p
The Board of Directors shall adopt an educational policy that shall lead to the education of members, boards of directors, managers and employees, which shall be addressed to expedite and propitiate:
(a) The generation of new volunteer leaders with technical and financial knowledge.
(b) Personal financial education at individual and family levels with a view to develop a better credit consumer, reduce the incidence of bankruptcies, and stimulate savings and investment in productive activities.
(c) Education on the main guiding principles, doctrines, nature and benefits of the cooperative movement, mainly for young people and decision makers.
The Board of Directors shall provide the necessary resources in the budget of the cooperative, to implement the educational policy and shall continually supervise its execution and implementation. The budgetary items assigned for education shall be destined to the direct rendering of direct educational services. The content of the educational policy doctrine on the cooperative movement shall be based on the principles approved by the Cooperative League. It shall be the express obligation of the Corporation to verify the use of the budget assigned for the rendering of direct educational services. The provisions of this section shall not lessen the obligation of the cooperative, its board of directors and employees to comply with the continuing education requirements provided by the Corporation pursuant to §§ 1334 et seq. of this title.
History —Oct. 28, 2002, No. 255, § 5.17.