P.R. Laws tit. 17, § 404
The Foundation shall be organized when its incorporators file with the Secretary of State of Puerto Rico the proper certificate of incorporation. It shall be governed by a Governing Board constituted by nine members. Five members shall represent organized labor and shall be elected by the stockholders of the Foundation. The other members of the Board of Directors shall be as follows: the Executive Director of the Urban Renewal and Housing Corporation; a public official designated by the Governor; and the Secretary of Labor and Human Resources. This Board so constituted shall appoint an additional director in representation of the public interest who shall not be an official of a labor union, neither of the Commonwealth of Puerto Rico, nor of its political subdivisions. Until the Directors are appointed and take office, the signatories of the certificate of incorporation shall handle the affairs and the organization of the Corporation and may take the pertinent measures to this end.
History —June 22, 1966, No. 104, p. 326, § 4; July 28, 2010, No. 100, § 2.