P.R. Laws tit. 21, § 4801
The municipalities are hereby empowered to authorize the creation of nonprofit special corporations for municipal development, hereinafter “special corporations”, for the primary purpose of promoting in the municipalities whatever activities, enterprises and municipal, commonwealth and federal programs addressed to their integral development and that will result in the general welfare of the inhabitants of the municipality through the growth and extension of diverse areas, such as social services, the development of public lands, affordable housing, commerce, industry, agriculture, recreation, health, the environment, sports and culture, as well as the generation of power from renewable sources of energy.
The corporations or organizations that are strictly nonprofit, organized under the laws of Puerto Rico, and whose functions are strictly of a civic and community nature, are hereby exempted from the application of this section, and the nonprofit corporations referred to in § 4816 of this title.
History —Aug. 30, 1991, No. 81, § 17.001; Apr. 13, 1995, No. 36, § 52; Aug. 9, 2002, No. 137, § 1; Aug. 3, 2006, No. 145, § 1.