P.R. Laws tit. 7, § 1369e
Any Board member, committee member, official, employee or agent of a cooperative, and any other person in charge of receiving, keeping, transferring, or disbursing cooperative funds, who performs one or more of the following acts, shall be punished with a penalty of imprisonment for a fixed term of eight (8) years:
(a) Appropriates them, in whole or in part, without legal authority, for his/her own benefit or that of another person;
(b) lends them, in whole or in part, or speculates with them or uses them for any purpose not authorized by this chapter;
(c) does not keep them in his/her power until they are disbursed or delivered as authorized by law;
(d) illegally deposits all or part of them in any cooperative, bank or financial institution, or in the power of another person;
(e) keeps any false account or makes a false entry of said funds, or that is related thereto;
(f) alters, forges, hides, destroys or strikes out any account or document that is related thereto;
(g) refuses or fails to pay on presentation, any draft, order of payment, or warrant issued by competent authority against the funds in his/her power;
(h) fails to transfer the same, in those cases that said transfer is demanded, by law or regulations;
(i) fails or refuses to deliver any amount of money to any official or other person authorized by law to receive it, to whom he/she is legally bound to deliver it;
(j) exchanges or converts the funds into cash, paper or other current coin or negotiable instrument, without legal authority for it, or
(k) neglects or fails to keep or disburse the funds in the form established in this chapter or its regulations.
Any person who is not a member of the Board, of the committees, or an executive official, employee or agent of a cooperative, that is guilty of one or more of the acts prohibited in this section, regardless of whether or not personal lucre was obtained, shall be punished with the penalty provided herein.
History —Oct. 28, 2002, No. 255, § 9.06.