All assets, powers, rights, and obligations of the Government of Puerto Rico Employees Association, created by Act No. 133 of June 28, 1966, as amended, are hereby transferred to the Commonwealth of Puerto Rico Employee Association and all the necessary powers and authorities are hereby granted to the Assembly of Delegates thereof to regulate, enter into agreements, and adopt resolutions as appropriate to achieve the purposes of the Association.
The purposes of the Association are: to stimulate savings among the employees and covered pensioned members of the Association; establish insurance plans including life insurance; grant loans, provide employees and pensioned members with homes and hospital facilities where they can obtain medical treatment for themselves and their families; and seek, through any available means and resources, the financial, moral, and physical betterment and progress of its members, both individually and collectively, as well as any other activity that the Assembly of Delegates may deem, upon previous consideration, feasible and beneficial for the goals pursued.
The Association shall retain its legal personality and its capacity to sue and be sued.
Its main office shall be located in the capital city of San Juan; however, it may establish additional offices and branches in other municipalities of Puerto Rico.
History —Apr. 25, 2013, No. 9, § 3.