P.R. Laws tit. 20, § 73k
The Association’s funds shall be used as provided for in the bylaws. From the Association’s funds, an annual sum shall be allocated, to be determined in the manner provided for in the bylaws, to be deposited into a trust which shall be administered by the nonprofit foundation of the Surgeons Association, to be created by the institution with the purpose of implementing its programs and activities related to community services, such as:
(a) To teach medical sciences in Puerto Rico, in harmony with the applicable regulations adopted by the Council on Higher Education or by any other authority with competence therefor.
(b) To provide health services directed to medically-indigent sectors, and those which depend on social welfare programs.
(c) Scientific research and studies that contribute to the advancement of medicine and public health.
Notwithstanding the above, said foundation may make investments to maximize its resources and meet the purposes of the Association, as long as the associates have so authorized previously. Furthermore, the Association, after a resolution to that effect, approved in a general assembly of the Association, may transfer to this foundation, whether by title acquired gratuitously or otherwise, any of its chattels or real properties as determined by said resolution, when convenient or necessary to meet the objectives for which it is created.
History —Aug. 13, 1994, No. 77, § 12, renumbered as § 11 and amended on Nov. 4, 1997, No. 129, § 10; July 13, 2001, No. 56, § 8.