P.R. Laws tit. 8, § 451
General powers.— For the continuing benefit of the children of Puerto Rico a nonprofit, permanent and irrevocable public trust fund is hereby created which shall have the name of “Permanent Fund for the Administration and Operation of Assets Destined for the Development of Programs for the Protection of Children and Prevention of Child Abuse”, which shall be known as the “Child Protection and Prevention of Abuse Trust”, and shall be capitalized and administered pursuant to the provisions of this chapter. The Trust shall have all the rights and powers that are necessary and pertinent to carry out its purposes, as they are established in this chapter, including, but without being limited to the following:
(a) Approve, amend and repeal regulations for the administration of its affairs and business and those regulations and norms that are necessary for the exercise of its powers and duties.
(b) Adopt an official seal and alter the same at its convenience.
(c) To sue and be sued on its own behalf, to file complaints and be complained against.
(d) Receive, administer and comply with the conditions and requirements regarding any royalty, concession, loan or gift of any property or money, including, without it being understood as a limitation, those proceeding from the Government of Puerto Rico and the Government of the United States, or any agency or instrumentality thereof, and those from private sources.
(e) Negotiate, enter contracts, leases, subleases and any other instruments and agreements with any natural or juridical person that are necessary or convenient to exercise the powers and duties conferred by this chapter.
(f) Borrow money or take out loans on behalf of the trust in those amounts, terms and conditions that it deems necessary and convenient for the administration of its business, and obligations of the trust’s funds as provided in this chapter.
(g) File any judicial action to protect or enforce any right conferred by any law, contract or other agreement and, notwithstanding any provision of law in conflict thereof, exercise any action provided when there is noncompliance, under any contract or agreement according to said contract or agreement.
(h) Appoint those officials, agents and employees that are needed for the proper compliance of the ends and purposes for which it has been created and to fix its powers, faculties and duties and the terms and working conditions established in this chapter.
(i) Procure, from insurers that satisfy the highest criteria of solvency, insurance against financial losses of the type and in the amounts deemed necessary for the adequate protection of the Trust, including but without it being understood as a limitation, fidelity bonds and insurance against the civil liability of trustees, officials, agents and employees or equivalent coverages. In contracting insurance, the procedures established in the Insurance Code of Puerto Rico shall be followed.
(j) Compensate third parties on behalf of the Trust and release any of its trustees, officials or agents from any legal liability incurred by them in the performance of their duties and responsibilities, under the circumstances provided in this chapter.
(k) Organize, administer and develop the operations, events and activities of the Trust in accordance to its best interests, businesses and purposes that gave rise to its creation.
(l) Meet in regular session once a month.
(m) Evaluate and approve proposals to grant funds to government and private entities that offer services for the prevention of child abuse. Adopt criteria to guide the Board of Trustees in the granting of funds.
(n) Support community guidance programs through the communications media with special emphasis on primary prevention.
(o) Support child abuse prevention programs.
(p) Perform all those functions and exercise all the incidental powers that are necessary to comply with the purposes of this chapter, that are not in contravention of any law, rule or regulations, nor to the sound public administration norms.
History —July 1, 1997, No. 27, § 1.