P.R. Laws tit. 23, § 5006
(1) The Board of Directors of the Company shall be composed of eleven (11) members, six (6) of which shall be designated by the Governor, and five (5) by the Mayor of the City of San Juan. Two (2) of the members appointed by the Governor and one (1) of the members designated by the Mayor shall hold office for four years; two (2) of the members designated by the Governor and two (2) of the members designated by the Mayor shall hold office for five (5) years; and two (2) of the members designated by the Governor and two (2) of the members designated by the Mayor shall hold office for six (6) years; their successors shall all be appointed for six (6) years. The members shall hold office until their successors are appointed and take office. Should a vacancy occur before the term of office of the incumbent has expired, his/her successor shall be appointed for the remainder of said term.
(2) The Board of Directors shall elect a Chairperson from among its members.
(3) The members of the Board of Directors shall receive no salary whatsoever. The expenses they incur to perform their duties may be reimbursed.
(4) Not less than three (3) of the members of the Board of Directors, to wit, one (1) of the members designated by the Governor and two (2) of the members designated by the mayor, shall be residents of the Cantera Peninsula and shall be chosen from a list of candidates submitted by the Neighborhood Council for the Development of Cantera. Not more than two (2) of the members may hold any elected or administrative public office at the time of their appointment.
(5) The members of the Board of Directors may be removed from office for just cause by the Governor, or by the Mayor of San Juan; according to the conditions of their appointment.
(6) The Board of Directors:
(a) Shall be responsible for complying with the objectives of the Company.
(b) Shall pursue the proper operation of the Company.
(c) Shall approve the rules and regulations for the organization and operations of the Company in harmony with the provisions of this chapter.
(d) Shall appoint the Executive Director of the Company and designate or authorize the designation of its other officials and employees.
(e) Shall ensure that, through creative operating means, the primary responsibility for the success of the development project which this chapter envisions, shall fall upon the private and not the public sector.
History —July 10, 1992, No. 20, § 7.