To incorporate a nonprofit association to provide hospital and/or medical-surgical services, it shall require the voluntary association of thirteen (13) or more persons of legal age, who shall subscribe and acknowledge their articles of incorporation before a notary public, the absolute majority of whose incorporators shall be composed of citizens of the United States residing in Puerto Rico. Said articles of incorporation shall be submitted, for his approval, to the Commissioner of Insurance of Puerto Rico, who shall have the authority to reject them if he should consider them prejudicial to public interest, or he may approve them or demand that they be amended before approving them. If said articles of incorporation are approved, they shall then be filed in the office of the Commissioner of Insurance of Puerto Rico and shall be subject to the provisions of this chapter and to the regulations that may be issued by the Commissioner of Insurance, as provided in § 54 of this title.
History —May 9, 1942, No. 152, p. 828, § 2; June 21, 1968, No. 109, p. 219, § 1.