P.R. Laws tit. 18, § 1728
2019-02-20 00:00:00+00
Any member can voluntarily resign from the cooperative at any time, after notifying the Board of Directors in writing. The payment of his credits shall be subject to the provisions in Chapter 14, Section 14.2 of this Act.
Membership status ends for the following reasons:
(a) The member’s death.
(b) The member’s resignation.
(c) Expulsion of the member.
(d) The cooperative’s termination.
(e) School graduation.
(f) Exceeding the maximum age.
When the resignation or voluntary withdrawal of a member adversely affects the interests of a cooperative, the Board shall decide upon the manner of his retirement so that operations are not significantly affected.
History —Aug. 29, 2002, No. 220, § 8.