P.R. Laws tit. 7, § 1364d
2019-02-20 00:00:00+00
Every member of a cooperative may voluntarily withdraw from it at any time, in which case the member must give written notice to the Board in advance, as required by the general regulations. This notice shall be considered by the Board or by the officials, executive officers or employees, on whom said function is delegated. When the retiring partner holds an office on the Board, or on any committee, or is an executive official of the Cooperative, the withdrawal of his/her assets shall be subject to the provisions of § 1366e of this title.
Partners who retire voluntarily from a cooperative shall be liable for all debts and obligations pending therein on the date of his/her resignation.
History —Oct. 28, 2002, No. 255, § 4.05.