P.R. Laws tit. 2, § 140t
(a) The “Annual Legislative Award for Cooperative Activism” is hereby created to be awarded to a person who excels in his/her extraordinary contribution or service in favor of the cooperative model.
(b) A nine (9)-judge panel is hereby constituted, which shall be composed of the Speaker of the House of Representatives and the President of the Senate, who shall be co-chairmen thereof, by the chairpersons of the committees with jurisdiction over cooperative matters in the House of Representatives and the Senate of Puerto Rico, the minority floor leaders in both committees, and the Commissioner of the Puerto Rico Cooperative Development Commission.
(c) The panel created by virtue of subsection (b) of this section shall be empowered to annually select the person who excels the most in the cooperative field. To such purposes, its internal bylaws shall be established through regulations, which shall include among others the procedure to submit the Award candidates’ nominations and the term or deadline to submit the same.
(d) The panel shall receive nominations and recommendations on the candidates deserving such distinction whether by initiative of the public or the cooperative sector.
(e) The person nominated shall meet the following requirements:
(1) Having made an extraordinary effort or contribution through his/her work or community services to achieve a broad development of the cooperative movement in Puerto Rico.
(2) Having worked in a cooperative-based company for at least two (2) years before the deadline fixed by the panel to submit nominations.
(f) The Award shall consist of a financial bonus in the amount of one thousand five hundred dollars ($1,500) and a certificate of acknowledgment signed by the Speaker of the House of Representatives and the President of the Senate of Puerto Rico. The Award shall be granted in a ceremony to be held in the premises of the Legislature of the Commonwealth of Puerto Rico, during the “Cooperative Dialogue Day in the Legislature of Puerto Rico” that is held annually, pursuant to § 5083 of Title 1.
(g) Both legislative chambers shall separate on equal parts the funds required for the implementation of this section from their respective General Budgets of Annual Expenses.
(h) The Award received by the distinguished persons shall be exempted from income taxes.
History —Feb. 18, 2008, No. 14, §§ 1—8; Sept. 27, 2009, No. 106, § 1.