P.R. Laws tit. 21, § 971d
The Board of Directors shall have the following rights, powers, faculties and functions:
(a) Act as the governing body of the trust.
(b) Draft, adopt, amend and repeal operating rules and regulations to govern its activities and those of the trust.
(c) Determine the eligibility of the proponents of the projects to be financed with the trust funds.
(d) Authorize the accounting and disbursement of the funds and other administrative operations of the trust.
(e) Implement the public policy and the objectives of the trust in tune with this chapter.
(f) Determine the programmatic areas and priorities of the trust and approve the working plans drafted accordingly.
(g) Appoint an executive director, fix his/her remuneration and delegate on him or her the responsibilities deemed to be necessary and proper in order to achieve the purposes established in this chapter.
(h) Determine the powers, duties and obligations of the executive director of the trust in harmony with the precepts of this chapter.
(i) Delegate on any committee of the Board or on the executive director, any of the powers and prerogatives of the Board under the provisions of this chapter.
(j) Delegate on the Authority and/or on any other pertinent Government agency, the execution of the measures, plans and projects of the trust, etc., approved by the Board of Directors pursuant to this chapter.
(k) Exercise all powers conferred and those that are incidental, necessary or convenient to attain the purposes of this chapter.
History —Nov. 21, 2002, No. 271, § 6.