P.R. Laws tit. 5, § 4549
All cooperatives, central cooperatives, banks and cooperative federations, as well as any other entity organized or to be organized under any law of the Commonwealth of Puerto Rico, shall be bound to set aside annually not less than one-tenth of one percent (0.1%) of the total volume of its operations to contribute to the support of the League. Said cooperatives shall deposit with the League of Cooperatives of Puerto Rico that sum which is the product of the aforesaid computation up to a maximum of four thousand dollars ($4,000).
Cooperatives, central cooperatives, banks and federations which during their annual operations obtain a net surplus shall contribute an additional amount of five percent (5%) of their annual net surplus up to a maximum of three thousand dollars ($3,000).
During the month following the close of each fiscal year’s operations of the cooperatives, they shall have deposited with the League of Cooperatives the total sums which they were bound to pay for the year thus ending. Deposits shall be made each quarter and each partial payment shall be estimated at one-fourth (¼) of the amount they were bound to pay for the preceding year. The pertinent adjustments shall be made at the close of the year and should there be a payment in excess, it shall be credited to the estimated payment for the following first subsequent quarter.
History —Sept. 1, 2004, No. 239, § 28.4.