P.R. Laws tit. 28, § 91b

2019-02-20 00:00:00+00
§ 91b. Definitions

The following terms, whenever used in this chapter, shall have the meanings stated below, except where the context clearly indicates otherwise:

(a) Governor.— The Governor of the Commonwealth of Puerto Rico.

(b) Corporation.— The Puerto Rico Mineral Resources Development Corporation.

(c) Board.— The Board of Directors of the Mineral Resources Development Corporation.

(d) General Manager.— The executive officer of the Puerto Rico Mineral Resources Development Corporation herein created.

(e) Bonds.— The bonds issued by the Corporation, as well as the notes and other evidences of indebtedness thereof.

(f) Mineral resources.— All the commercial minerals as provided in the Mining Act and such other substances as from time to time the Secretary of the Department of Natural and Environmental Resources may determine.

(g) Subsidiary.— Any enterprise possessed, controlled or administered by the Corporation.

(h) Project.— Any activity or task assigned to the Corporation by the Secretary of the Department of Natural and Environmental Resources for the purpose of prospecting for, developing, exploiting, selling or otherwise utilizing to the maximum degree any mineral resource of Puerto Rico in accordance with the purposes and to the extent herein provided, including every and any property, personal or real, assigned, transferred, or acquired by the Corporation for the purpose of developing a project.

History —July 2, 1975, No. 145, p. 433, § 3.