P.R. Laws tit. 18, § 1712
The incorporation clauses shall be sworn by all the incorporators before a notary public and must include the following information:
(a) The official name of the cooperative must include the words “Youth School Cooperative, Community or University”. The name can be abbreviated provided that the word “Coop” is used. No cooperative may use the same name or a name similar to that of an established cooperative.
(b) Exact address of the cooperative.
(c) Objectives and purposes for which the same is organized.
(d) Value of shares which shall not be below one dollar ($1). The amount with which operations shall begin and attendant rights.
(e) Name and address of the incorporators and the number of shares subscribed by each of them.
(f) The amount of capital with which operations shall begin.
(g) The number of members with whom operations begin.
(h) Any other provision necessary for the administration of the cooperative.
History —Aug. 29, 2002, No. 220, § 4.1.