P.R. Laws tit. 13, § 111hh
The Governor may, at any time during the suspension period under §§ 112-112f of this title or during the pendency of a case under §§ 113-113nn of this title, appoint an emergency manager for the eligible obligor or petitioner, as applicable. The Governor may choose any individual to serve as emergency manager, including, without limitation, a current or former officer of the eligible obligor or petitioner. The Governor may empower the emergency manager to oversee multiple eligible obligors or petitioners simultaneously or sequentially. The emergency manager shall subject to the applicable provisions and obligations entered into pursuant to §§ 9101 et seq. of Title 3:
(a) Exclusively possess and exercise all powers of the governing body and the principal executive officer of the eligible obligor or petitioner, as applicable, and the powers of the existing governing body of the eligible obligor or petitioner shall be suspended during the emergency manager’s tenure;
(b) report periodically to such governing body regarding the operations of the eligible obligor or petitioner, as applicable, the progress of the restructuring process under §§ 112-112f of this title or prosecution of the petitioner’s plan under §§ 113-113nn of this title, and the governing body may provide advice to the emergency manager;
(c) report to the Governor, the Legislative Assembly and GDB upon request;
(d) serve:
(1) During the suspension period and may continue serving for a period of up to three (3) months after entry of the approval order, which period may be extended for three (3) additional months by the Governor or as otherwise provided for in the recovery program;
(2) during the §§ 113-113nn of this title case, unless and until replaced by the Governor, and shall continue serving for a period of three (3) months after the effective date of the plan, which period may be extended for three (3) additional months by the Governor; or
(3) until the Governor, in his absolute discretion, determines; provided, however, that the periods set forth in clauses (1) and (2) of this subsection shall not be exceeded; and
(e) be compensated by the eligible obligor or petitioner, as applicable, according to terms of employment approved by the Governor with advice of GDB.
History —June 28, 2014, No. 71, § 135.