P.R. Laws tit. 5, § 4453
It is of the exclusive jurisdiction of the assembly, provided that the provisions of this chapter are not contradicted:
(a) To approve and modify the articles of incorporation and the bylaws;
(b) to elect and remove the members of the Board of Directors and the supervision committees;
(c) to ratify or reject the recommendations of the Board of Directors regarding the compensation, if any, of the members of the Board of Directors and the committees;
(d) to resolve on the merger, incorporation or dissolution of the cooperative;
(e) to decide on the action to be taken against the members of the [Board] of Directors and the supervision committee, when they act in violation of their responsibilities;
(f) to decide on the capitalization or distribution of the surplus;
(g) to decide on the creation or operation of departments, subsidiaries and affiliates not considered or provided for in the articles of incorporation or the bylaws of the cooperative;
(h) to decide on the constitution of districts, their representation and the respective rights of the members, and
(i) to receive the reports of the Board of Directors and the supervision and education committees.
History —Sept. 1, 2004, No. 239, § 10.3.