P.R. Laws tit. 21, § 6623
The association shall meet at least once a year in a general assembly to elect its Board of Directors and to review both the annual accomplishment report and the financial report, which shall be certified by a certified public accountant. Any other matters that the Board of Directors or thirty percent (30%) of the members of the association determines that should be brought to the attention of the general assembly may also be considered through a written petition addressed to the Board of Directors. Attendance by thirty percent (30%) of the members of the association plus the developer shall constitute a quorum to hold the assembly. A member of the association may be allowed to delegate his/her vote to another member by proxy, specifying how he/she shall vote on any matter determined to be discussed during the assembly. Agreements shall be adopted through a majority vote unless this chapter provides a special requirement to adopt certain agreements.
The association may hold as many special assemblies of its members that the Board of Directors deems necessary. However, the Board of Directors is duty bound to call a special assembly, provided it is requested by thirty percent (30%) of the total number of members of the association.
The Board shall notify all members of the association, by certified mail with acknowledgement of receipt, or by messenger, of the date, time and place that the general assembly is to be held. It shall likewise inform all members of the association, in writing, of the decisions adopted and the reports presented in the assembly.
History —Aug. 8, 1998, No. 207, § 2.003; Dec. 16, 2009, No. 171, § 3, eff. 30 days after Dec. 16, 2009.