P.R. Laws tit. 5, § 4635
The Department of Housing, in consultation with the Cooperative Development Administration, shall establish by regulation additional or special requirements that should be contained in the statutes, regulations and master deeds of public housing developments interested in converting into housing cooperatives pursuant to this subchapter which are necessary to carry out its public policy, taking into consideration any federal or Commonwealth legal restrictions that may apply. Said requirements, however, shall have to be in harmony with the provisions of this chapter and the general rules, especially with respect to the conversion procedures. As with any other type of cooperative, the conversion shall be determined through the express will of the residents in compliance with the cooperative principle of open and voluntary adhesion.
In order to assess the effective consecution and promotion of the above stated, it is hereby established that the Secretary of the Department of the Housing and the Administrator of the Cooperative Development Administration shall remit to the Legislature of Puerto Rico a comprehensive and detailed report on the progress of the conversion of public housing developments into housing cooperatives by December 31 of each year. Provided, That the report shall be submitted through the Office of the Secretary of the Senate and the Office of the Clerk of the House of Representatives. Once the report is received, the Clerk or Secretary of the corresponding Chamber shall submit the same for the consideration of the chairpersons of the committees with jurisdiction over the cooperatives and housing affairs.
History —Sept. 1, 2004, No. 239, § 35A.45; Sept. 20, 2007, No. 122, § 1.