P.R. Laws tit. 18, § 1780
2019-02-20 00:00:00+00
After separating the reserves, the cooperative may distribute the excess of its net surplus at the closing of its fiscal year or turn it into capital. The distribution must be made on a patronage basis. The Board of Directors may establish the definition of patronage in its bylaws, indicating if it is based on service used, or invested hours of work.
History —Aug. 29, 2002, No. 220, § 13.0.