P.R. Laws tit. 18, § 1784
2019-02-20 00:00:00+00
The Cooperative Development Administration may decree and recommend the closing of a cooperative when:
(1) It does not hold meetings for two consecutive years.
(2) The cooperative remains inactive for more than three (3) years.
(3) The cooperative does not, in a reasonable amount of time, correct violations to the chapter pointed out by the Cooperative Development Administration and these could represent irreparable damage to the members and the community.
(4) It does not comply with the objectives and purposes for which it was created.
History —Aug. 29, 2002, No. 220, § 14.1.