P.R. Laws tit. 5, § 4503
2019-02-20 00:00:00+00
The general rules of the cooperative shall provide on the form and procedure for the [issuance] of preferred shares certificates. Such preferred shares may be acquired by members or non-members; Provided, That the total amount of preferred shares shall be limited to the total amount of the capital of the cooperative. This provision shall not apply to housing cooperatives.
History —Sept. 1, 2004, No. 239, § 19.3.