P.R. Laws tit. 7, § 1368b
Cooperatives shall submit all such reports that the Corporation requires, with such frequency, detail, and in the form required through its orders, or regulations. The President and the Secretary of the Board shall certify that the annual financial statements of the cooperative are correct, according to their best knowledge and belief, and that they were examined and discussed by the Board. The statements shall be filed at the Corporation no later than one hundred and twenty (120) days following the termination date of the fiscal year of the cooperative.
Every cooperative shall keep a detailed accounting of its operations and activities based on generally-accepted public accounting principles, except in those cases otherwise provided in this chapter. Furthermore, the Corporation may require the cooperatives to submit reports on its internal controls, attested by certified public accountants.
History —Oct. 28, 2002, No. 255, § 8.03.