P.R. Laws tit. 3, § 930a
To expedite the execution of the aforementioned public policy, the Puerto Rican Industry Investment Board is hereby created, attached to the Puerto Rico Industrial Development Company. It shall be composed of the Executive Director of the Industrial Development Company, who shall be its Chairperson, the General Services Administrator, the Secretary of Agriculture, the Cooperative Development Administrator, and the main economic advisor of the Governor, or their designated representatives, one (1) member designated by the Governor of Puerto Rico, and one additional member designated by agreement by the Presiding Officers of both Legislative Chambers, who have experience in local industry. The latter shall serve for a staggered term of two (2), three (3) and four (4) years. Should a vacancy arise, the member designated by the Governor to replace him/her shall serve for the remainder of the term of the member who ceased his/her functions and it shall be done in the same manner with the substitute in the case a vacancy arising because of the member appointed by the Legislature, who shall be responsible for appointing a substitute for the term of the member designated by the Legislature who produced the vacancy. The Board shall meet at least once a month, and the members who are not Government employees or officers shall be entitled to charge a per diem of one hundred dollars ($100) for each day that they attend a meeting, pursuant to the applicable law and regulations. Four (4) members of the Board shall constitute quorum, and the decisions shall be made by majority vote of those present. In those instances in which the members of the public sector who are part of the Board appoint representatives to participate in the meetings of the Board, these shall have official authority to make decisions, shall act promptly as members of said directing entity, and shall only represent the regular members in not more than one third (⅓) of the total of meetings held by the Board.
It is further provided that the Board shall be the public entity invested with all the legal and administrative powers necessary to ensure full compliance with the provisions of this chapter by all the agencies and other public entities thereunder. In this sense, it shall be understood that this Board is the government entity with authority to supervise the public entities in their full compliance with the norms of action, criteria and other provisions of this chapter.
History —Jan. 8, 2004, No. 14, § 5; Aug. 29, 2006, No. 164, § 2; Dec. 12, 2007, No. 184, § 3, eff. 3 months after Dec. 12, 2007.