P.R. Laws tit. 20, § 2073
The Association shall have power:
(a) To subsist in perpetuity under that name and to sue and be sued as [a juridical] person.
(b) To possess and use a seal, which it can alter at will.
(c) To acquire rights and properties, both personal and real, by donation, legacy, taxes on its own members, purchase or otherwise; and to possess them, mortgage them, lease them, and dispose of them in any manner.
(d) To appoint its directors and officers.
(e) To adopt its bylaws which shall be binding on all its members, and to amend them in the form and under the requirements established therein.
(f) To adopt and implant the rules of ethics which shall govern the conduct of its members.
(g) To receive and investigate the complaints formulated in regard to the conduct of members in the practice of the trade, which complaints can be sent to the Board of Directors for decision, and if, after a preliminary hearing in which the interested person shall be given an opportunity to be heard cause is found, to institute the proper proceedings before the Board. Nothing provided herein shall be understood in the sense of limiting or altering the power of the Board to institute these proceedings on its own account.
(h) In order to protect its members in the practice of the trade, and through the creation of gratuity funds, insurance systems and special funds, or in any other manner, to help those who retire for physical disability or advanced age, and the heirs or beneficiaries of those who die.
(i) To exercise such incidental powers that may be necessary or convenient for the purposes of its creation as are not in conflict with this chapter.
History —May 20, 1970, No. 36, p. 76, § 23, eff. 90 days after May 20, 1970.