reglab/statecodes huggingface dataset:
2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 102 - General Cooperative Associations Act (2004) › Subchapter XVII - Prohibitions and Penalties (§§ 4665 — 4667) › § 4667 - Crimes against the funds of the cooperatives

Any member of the Board or of the committees, or any officer, employee or agent of a cooperative and any person in charge of receiving, keeping, transferring or disbursing funds belonging to a cooperative who commits one or more of the following acts shall be sanctioned with imprisonment for a fixed jail term of eight (8) years:
(a) Without legal authority taking funds, in whole or in part, for his/her own benefit or the benefit of another person;
(b) lending the funds, in whole or in part, or speculating with them, or otherwise using the funds for any purpose that is not authorized by this chapter;
(c) not maintaining the funds in his/her custody until disbursing or delivering them pursuant to the authorizations established by law;
(d) illegal depositing the funds, in whole or in part, in any cooperative, bank or financial institution, or placing them under the power of another person;
(e) keeping any false accounts or making any false entries of said funds, or pertaining to said funds;
(f) altering, falsifying, concealing, destroying, or deleting any account or document pertaining to said funds;
(g) denying payment or failing to pay upon presentation any note, order or order of payment made by any competent authority against the funds in his/her power;
(h) failure to transfer the funds in cases in which by law or regulation such transfer is required;
(i) denying delivery or failure to deliver to any officer or to any other person authorized by law for its receipt, any amount of money that he/she is legally bound to deliver;
(j) exchanging or converting funds in coin, paper or any other legal tender or instrument without legal authority to do so, or
(k) negligence or failure to keep or disburse the funds in the manner established in this chapter or its regulations.
Any person who is not a member of the Board or of the committees, nor an executive officer, employee or agent of a cooperative who is guilty of committing one (1) or more of the acts forbidden in this section, regardless of whether or not said person obtained personal financial gains, he/she shall be sanctioned with the penalty established herein.
History —Sept. 1, 2004, No. 239, § 38.2.
2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 104 - Agricultural Biotechnology (§§ 4701 — 4706) › § 4701 - Definitions

(a) Secretary of Agriculture. — Means the Secretary of the Department of Agriculture of the Commonwealth of Puerto Rico.
(b) Secretary of Economic Development. — Means the Secretary of the Department of Economic Development and Commerce of the Commonwealth of Puerto Rico.
(c) School of Agricultural Sciences. — Means the School of Agricultural Sciences of the University of Puerto Rico, Mayagüez Campus.
(d) Authority. — Means the Puerto Rico Land Authority.
(e) Agricultural biotechnology. — The use of living organisms to solve problems and develop useful products. It may include traditional plant or animal breeding methods, or bioprocesses, such as fermentation. It can also include the application of cell or molecular biology, to address the needs of human beings using techniques such as, monoclonal antibodies, somatic propagation (tissue culture), biosensors, and genetic engineering, as well as any other technique that may arise.
(f) PRIDCO. — Means the Puerto Rico Industrial Development Company.
History —Aug. 10, 2009, No. 62, § 3, eff. 30 days after Aug. 10, 2009.
2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 104 - Agricultural Biotechnology (§§ 4701 — 4706) › § 4703 - Regulation

The Secretary of Agriculture is hereby empowered to promulgate the necessary regulation on the approval and endorsement process requirements for the establishment or expansion of agricultural biotechnology-related operations. If necessary, he/she shall amend and/or repeal such provisions as he/she deems pertinent in order to adjust the regulations and administrative rules necessary to make the efficient operation of these enterprises feasible, safeguarding the best interests of the local agriculture and of the People of Puerto Rico in general. The Department of Agriculture shall be advised by the School of Agricultural Sciences for the purposes of fully complying with the regulating duty.
The regulation shall cover areas such as:
Development of the inspection and release protocol for seeds shipments, clearly stating the grounds for retaining shipments of seeds and the documentation that must be issued as a result of the retention of the shipments in question.
The jurisdiction to regulate agricultural biotechnology-based production, except for those species of plants, seeds, and/or varieties that have undergone plant breeding subject to controlled substance acts or regulations, shall be under the exclusive jurisdiction of the Department of Agriculture.
Due to the peculiarities of our diverse and biologically vulnerable agricultural production industry and to ensure the bio-safety of our agricultural biotechnology products in international markets, the Secretary of Agriculture shall develop biological safety regulations whereby phytosanitary requirements, as well as requirements for seeds shipments and the release thereof are established.
The economic resources collected by the agencies attached to the Department of Agriculture through the enforcement of the regulations pertaining to agricultural biotechnology shall be invested by the Secretary in matters related to the public policy set forth in this chapter.
The regulation or regulations to be promulgated shall be approved within six (6) months from the approval of this act.
History —Aug. 10, 2009, No. 62, § 5, eff. 30 days after Aug. 10, 2009.
2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 104 - Agricultural Biotechnology (§§ 4701 — 4706) › § 4704 - Provisions on lands

The Land Authority shall maintain an inventory of lands available and with the basic necessary infrastructure in terms of paths, irrigation, and drainage that may be available to supply the demand of companies engaged in plant breeding and which could be interested in developing, establishing, and expanding operations in the Island, as well as the current rent for each of the available plots of land. Such rent may be negotiable through an agreement between the Land Authority and the Department so as to make any future project to be established in Puerto Rico feasible.
The agricultural lands in use or with the potential for activities related to agricultural biotechnology shall be identified, classified, and protected as agricultural soils with priority in the Puerto Rico Land Use Plan. This statute shall not render any special law on agricultural lands or reserves ineffective in any manner whatsoever.
History —Aug. 10, 2009, No. 62, § 6, eff. 30 days after Aug. 10, 2009.
2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 104 - Agricultural Biotechnology (§§ 4701 — 4706) › § 4705 - Water use for irrigation

The Department of Agriculture, in collaboration with the Electric Power Authority and any other agency or public corporation, shall facilitate the access to the public irrigation system for agricultural purposes, ensuring continuous water supply for irrigation to agricultural biotechnology companies, together with the farmers of the zone.
The Department of Natural and Environmental Resources shall expedite the evaluation and approval process of deep well water franchises to be used in areas without access to irrigation districts, or to complement or limit the risk of a lack of water in areas with access to irrigation districts. The Department of Natural and Environmental Resources shall provide an expeditious mechanism to grant permits for new wells in areas where it is authorized by the corresponding regulation so as to provide reasonable deadlines to comply with the agricultural biotechnology companies expansion plans. Furthermore, it shall take the needs of agricultural biotechnology companies into account in the development of the Puerto Rico Comprehensive Plan for Water Use and their expansion plans when suggesting and regulating water use in Puerto Rico.
The Department of Agriculture shall consider the scientific advice of the United States Geological Service regarding the good use of aquifers and water supplies in Puerto Rico, as well as the “Commonwealth of Puerto Rico Body of Water Management Act”.
History —Aug. 10, 2009, No. 62, § 7, eff. 30 days after Aug. 10, 2009.
2023 Laws of Puerto Rico › TITLE FIVE - Agriculture (§§ 1 — 4706) › Chapter 104 - Agricultural Biotechnology (§§ 4701 — 4706) › § 4706 - Manpower

The recruitment of manpower to conduct field operations in agricultural biotechnology research centers shall be considered by the government agencies of the Commonwealth of Puerto Rico as any other agricultural job subject to applicable laws, norms, and regulations.
Job positions filled for field operations in agricultural biotechnology companies shall be covered under §§ 2031 et seq. of Title 29, with regards to the wage subsidy benefits administered by the Department of Agriculture for bona fide farmers.
History —Aug. 10, 2009, No. 62, § 8, eff. 30 days after Aug. 10, 2009.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 2 - Intersectoral Council for the Strengthening and Development of Non-Profit Organizations (§§ 20 — 22) › § 20 - Intersectoral Council

(a) The Intersectoral Council for the Strengthening and Development of the Non-Profit Organizations is hereby created as a task force of limited duration, attached to the Department of Economic Development and Commerce of the Commonwealth of Puerto Rico.
(b) The Intersectoral Council shall have a limited duration of two (2) years starting on July 1, 2008, by which date all members must have been already selected.
(c) The Intersectoral Council shall be constituted by eleven (11) members. Three (3) of them shall be high-ranking representatives from the following Commonwealth agencies: the Department of Economic Development and Commerce, the Department of State, and the Department of the Treasury, selected by recommendation of the secretaries of said agencies. The remaining members shall be: one (1) representative from any public or private higher-education institution in the Island that has an academic program related to non-profit organizations which shall be selected among the direct participants of said program; one (1) representative from the Faculty of the Public Administration Graduate School of the University of Puerto Rico; one (1) representative from the private business sector with experience in fields such as social responsibility, entrepreneurship, corporate philanthropy and/or community and intersectoral allying; four (4) non-profit organization representatives; and one (1) representative from foundations that contribute with funds to non-profit organizations, two (2) of which shall be community-based development organizations. All representatives from non-profit and community-based organizations and foundations shall be appointed by the Governor with the advice and consent of the Senate of Puerto Rico.
(d) Six (6) of the eleven (11) members of the Council shall constitute a quorum to enter into agreements. Once the Council is constituted, its members shall choose among them a Chair, a Vice Chair, and a Secretary.
(e) The Intersectoral Council shall be empowered to organize internally and establish the provisions to govern its operations. However, the Council shall meet at least once a month and the Chair may call additional meetings after notice not less than forty-eight (48) hours in advance.
(f) To discharge its functions, the Council shall establish and organize an office that suits its needs. It shall also designate an Executive Director, who shall be responsible for the organization and direction of the office works. The Executive Director shall be a person who is substantially qualified and experienced in non-profit organizations, with solid knowledge on the importance and needs of this sector and the ability to elicit intersectoral efforts and partnerships for the development of the non-profit organization sector.
History —July 18, 2008, No. 123, § 3.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 2 - Intersectoral Council for the Strengthening and Development of Non-Profit Organizations (§§ 20 — 22) › § 22 - Additional funding sources

The Intersectoral Council is hereby authorized to receive and administer funds proceeding from legislative allotments, whether from the federal or the Commonwealth Government, fund transfers from government agencies or dependencies, and donations of any kind. Commonwealth agencies that are members of the Intersectoral Council, and any others which may contribute to the fulfillment of its endeavors, are hereby empowered to make use of their own resources for such purpose to the extent they may deem convenient and timely.
History —July 18, 2008, No. 123, § 6.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 41 - Scope

Any nonprofit association organized hereafter in this Commonwealth for the purpose of establishing, maintaining, and operating any plan for the rendering of hospital and/or medical-surgical services without profit and by virtue of which hospital services are furnished by any hospital or group of hospitals with which said association may have a contract for said purpose and medical-surgical services by a group of doctors with whom the association have a contract for that purpose and in order to furnish such hospital and/or medical-surgical services to such persons as may enter into a contract therewith, authorizing and guaranteeing certain hospital and/or medical-surgical services, shall be governed by this chapter and shall be exempt from the provisions of the Insurance Code of Puerto Rico, Title 26, except as herein specifically provided.
History —May 9, 1942, No. 152, p. 828, § 1; Dec. 31, 1946, No. 21, p. 162, § 1; May 12, 1964, No. 22, p. 67; June 21, 1968, No. 109, p. 219, § 1.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 42 - Incorporation

To incorporate a nonprofit association to provide hospital and/or medical-surgical services, it shall require the voluntary association of thirteen (13) or more persons of legal age, who shall subscribe and acknowledge their articles of incorporation before a notary public, the absolute majority of whose incorporators shall be composed of citizens of the United States residing in Puerto Rico. Said articles of incorporation shall be submitted, for his approval, to the Commissioner of Insurance of Puerto Rico, who shall have the authority to reject them if he should consider them prejudicial to public interest, or he may approve them or demand that they be amended before approving them. If said articles of incorporation are approved, they shall then be filed in the office of the Commissioner of Insurance of Puerto Rico and shall be subject to the provisions of this chapter and to the regulations that may be issued by the Commissioner of Insurance, as provided in § 54 of this title.
History —May 9, 1942, No. 152, p. 828, § 2; June 21, 1968, No. 109, p. 219, § 1.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 44 - Contracts

Any association organized under this chapter may enter into contracts to furnish hospital and/or medical-surgical services to its subscribers, only with hospitals previously approved by the Department of Health and/or with doctors authorized to engage freely in the practice of their profession in Puerto Rico. All contracts issued by said association to any subscriber shall constitute a direct obligation on the part of the hospital or hospitals and of the doctors which the association may have contracted for such services. Contracts entered into with the subscriber may be individual or may cover the family, including the head of the family, the wife and children under twenty-one (21) years of age, or by groups.
No hospital, doctor or other purveyor of services may charge the subscriber any amount for services rendered and included in the contract, on the grounds that the association has objected to the payment of such service for reasons unknown to the subscriber, or because the association understands that said services rendered were unnecessary or went beyond the acceptable standards of use of the services, or because the services were merely for the custody or care of the patient which is not construed as medical treatment. Any controversy between the association and the purveyors of services shall be resolved as prescribed in §§ 52 and 54 of this title. The subscriber shall be bound to pay the purveyors of services directly for any services not included in the contract, if he has expressly requested that such services be rendered.
Every type of blank form to be used by the association in entering into contracts with the subscribers shall be submitted to the Commissioner of Insurance for his approval.
History —May 9, 1942, No. 152, p. 828, § 4; June 21, 1968, No. 109, p. 219, § 1; June 26, 1977, No. 119, p. 305, § 2.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 45 - Subscription fees, hospital rates and doctors’ fees

The fees to be paid by the subscribers or members of the hospital and/or medical-surgical services and the rates for hospital service to be paid to the hospitals and the fees to be paid to the doctors for the services that they render to the subscriber shall be reasonable in connection with the benefits provided. Said fees and rates may be revised by the Commissioner of Insurance.
History —May 9, 1942, No. 152, p. 828, § 5; June 21, 1968, No. 109, p. 219, § 1.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 46 - Authorization

No association subject to the provisions of this chapter may carry out the activities for which it was created without being previously authorized by the Commissioner of Insurance of Puerto Rico by means of the corresponding certificate. The application blank for that purpose shall be furnished by the Commissioner of Insurance upon request, and shall contain such information as the said Commissioner of Insurance may deem necessary. The application shall be accompanied by the following documents:
(a) Regulations of the association.
(b) Certified copy of the articles of incorporation.
(c) Form of contract to be issued to subscribers, showing table of rates to be charged and benefits to which they shall be entitled.
(d) Form of contract to be entered into between the association and the hospital or group of hospitals and/or group of doctors; showing conditions under which the services are to be rendered.
(e) Financial statement of the association, including the amount received from paid-up subscriptions or amounts subscribed and due the association as working capital, names of contributors, and terms of each contribution.
For every authorization certificate issued each year by the Commissioner of Insurance of Puerto Rico the sum of ten dollars ($10) shall be paid.
The Commissioner of Insurance shall not issue an annual license to any association organized under this chapter to establish, maintain, and operate a hospital and/or medical-surgical service, unless the following has been proved to his satisfaction:
(a) That the applicant has been organized as a bona fide nonprofit association to render hospital and/or medical-surgical services;
(b) that the contract entered into between the applicant and the participating hospitals and/or doctors shall compel the hospital or group of hospitals and the doctors who are parties to the contract to give services to each subscriber having a right thereto under the terms of the contract issued to him;
(c) that the fees established and the benefits offered are fair and reasonable;
(d) that the amounts set up as working capital shall be reimbursed only from the excess of the accrued income, after deducting the operating and hospitalization expenses and for medical services and from those reserves that the Commissioner of Insurance may consider adequate;
(e) that the amount available as working capital shall be sufficient to cover all operation expenses and acquisition costs for a reasonable length of time, commencing from the date on which the authorization certificate is issued, and
(f) that the association shall not devote more than 20 percent (20%) of its income from subscription fees in any one year to administrative expenses.
History —May 9, 1942, No. 152, p. 828, § 6; June 21, 1968, No. 109, p. 219, § 1.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 47 - Annual reports

Every association organized in accordance with this chapter shall file in the office of the Commissioner of Insurance, not later than March 31 of each year, a report duly signed and sworn to before a notary by the president or vice president and the secretary or manager, showing the financial condition of the association as of December 31 of the preceding year, and it shall be rendered in such form and shall contain such information as the Commissioner may prescribe.
History —May 9, 1942, No. 152, p. 828, § 7; June 21, 1968, No. 109, p. 219, § 1.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 48 - Examinations

The Commissioner of Insurance of Puerto Rico shall make, or cause to be made as frequently as he may deem necessary, an investigation of the condition of the association, for which purpose he shall have free access to the books and documents of the association and require from its officials and employees the presentation, for inspection, of the books, documents, and other securities, and he may take statements under oath and in writing from said officials and employees, or from any other person connected with the affairs, transactions, and general condition of the association.
History —May 9, 1942, No. 152, p. 828, § 8; June 21, 1968, No. 109, p. 219, § 1.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 49 - Expenses

Every expense of extraordinary character in connection with said hospital and/or medical-surgical service plan incurred by the association shall be subject to the previous approval of the Commissioner of Insurance, provided that the expenses of the association for the period exceed the limit established by subsection (f) of § 46 of this title.
The regular budgets of every association organized under this chapter shall be filed in the Office of the Commissioner of Insurance not later than December 31 of the previous year to which said budget applies.
History —May 9, 1942, No. 152, p. 828, § 9; June 21, 1968, No. 109, p. 219, § 1.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 50 - Initial working capital; reserves

At the outset, the initial working capital of every association organized under this chapter shall not be less than five thousand dollars ($5,000). For a period of not less than six (6) months, to be computed from the beginning of operations, the association shall not dispose of any amount of its unaccrued income; Provided, That all income received during said period of six (6) months shall be entirely available for the payment of benefits to its subscribers. The administration and acquisition costs shall be paid only from the working capital and from the accrued income, in accordance with subsection (f) of § 46 of this title. The entities heretofore or hereafter organized under this chapter shall establish those reserves for contingencies and incidentals that the Commissioner of Insurance may have promulgated or may hereafter promulgate through regulations.
History —May 9, 1942, No. 152, p. 828, § 10; June 15, 1961, No. 66, p. 127, § 1.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 51 - Investments

The funds of every association organized in accordance with this chapter shall be invested only in such securities as are authorized by the Insurance Code of Puerto Rico, Title 26, in the case of life-insurance companies.
History —May 9, 1942, No. 152, p. 828, § 11.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 52 - Disputes; appeals

Any disputes in connection with the contract entered into between the parties and arising between an association organized under the provisions of this chapter and a hospital or group of hospitals and/or with doctors with which said association may have contracted for the rendering of hospital and/or medical-surgical services shall be submitted to the Commissioner of Insurance for his decision, which may be taken in appeal before the corresponding Part of the Court of First Instance.
History —May 9, 1942, No. 152, p. 828, § 12; June 21, 1968, No. 109, p. 219, § 1.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 53 - Liquidation and dissolution

The voluntary liquidation and dissolution of an association subject to the provisions of this chapter shall be made under the supervision of the Commissioner of Insurance of Puerto Rico. However, when a voluntary liquidation is conducted for the sole purpose of having the association become incorporated as a stock insurer governed by the applicable provisions of §§ 101 et seq. of Title 26, said liquidation and incorporation shall also comply with the requirements established in §§ 54—58 of this title. Provided, further, That when, as a result of an investigation made by the Commissioner of Insurance, he/she is convinced that said association has violated the law or its regulations in such a way that its business is prejudicial to its subscribers, or to the hospital or group of hospitals and/or doctors with which it may have contracted, the Commissioner may then resort to the Part of the Court of First Instance with jurisdiction, to request its liquidation and dissolution through the appointment of a receiver or trustee who, in the exercise of his trust, shall be bound to discharge the rights and obligations imposed by the court that ordered the liquidation and dissolution.
History —May 9, 1942, No. 152, p. 828, § 13; June 21, 1968, No. 109, p. 219, § 1; July 13, 1998, No. 122, § 1.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 53d - Termination of the voluntary liquidation and authorization of the stock insurer

Once the Commissioner of Insurance has approved the incorporation of the stock insurer which shall succeed a voluntarily liquidated association, and verified its financial competency, the dissolution of the association shall take place through the transfer of the assets, the business in effect, the liabilities, the contractual obligations, the accounts, files, and equipment and any other property of the association, at which time it shall be authorized to contract insurance business pursuant to the certificate of authority granted by the Commissioner of Insurance for said purpose. None of the above shall be understood to exempt the aforementioned insurer from complying with the requirements of filing with, and obtaining the prior approval of the Commissioner of Insurance, in all those acts which require such filing and approval. Throughout this whole process the Commissioner of Insurance shall ensure that any offer of financial competency be considered which, pursuant to the provisions of § 53b of this title, he/she may refer to the incorporated stock insurer. However, this shall not interfere with the power of the aforementioned insurer to select the offer of financial competency which it may deem to be in its best corporate interests and present the same to the Commissioner of Insurance. The voluntary liquidation and dissolution of the association and its subsequent incorporation as a stock insurer, as well as all the transactions needed to execute said transformation shall not be deemed to be events subject to tax levies in the Commonwealth of Puerto Rico.
History —May 9, 1942, No. 152, p. 828, added as § 17 on July 13, 1998, No. 122, § 2.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 53e - Applicability of the Insurance Code

The stock insurer succeeding an association voluntarily liquidated for such purposes shall be subject to the provisions of §§ 101 et seq. of Title 26. The provisions of this chapter shall complement said provisions in all matters that are not incompatible. The Commissioner of Insurance shall be the official in charge of ensuring compliance with this chapter.
Provided, That should an association in the process of being voluntarily liquidated so that it may be incorporated as a stock insurer fails to comply with any of the provisions of this chapter with regard to said process, the Commissioner of Insurance shall be empowered to stop the incorporation process of said insurer and proceed with a voluntary liquidation.
History —May 9, 1942, No. 152, p. 828, added as § 18 on July 13, 1998, No. 122, § 2.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 53f - Sunset legislation

It is hereby provided that from the effective date of the legislation which allows the voluntary liquidation of a nonprofit association for the purpose of its incorporation as a stock insurer, no other association shall be authorized to become organized under the provisions of this chapter.
History —May 9, 1942, No. 152, p. 828, added as § 19 on July 13, 1998, No. 122, § 2.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 54 - Regulations, penalties, appeals

The Commissioner of Insurance of Puerto Rico may promulgate regulations for the proper enforcement of this chapter, and the same, once approved by the Secretary of Justice and filed in the Office of the Secretary of State of Puerto Rico, shall have the force of law; and for every violation thereof the said Commissioner is hereby authorized to impose administrative fines of not to exceed ten dollars ($10) for each violation; but the association so fined shall retain its right to appeal to the corresponding Part of the Court of First Instance.
History —May 9, 1942, No. 152, p. 828, § 14; June 21, 1968, No. 109, p. 219, § 1; renumbered as § 20 on July 13, 1998, No. 122, § 3.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 3 - Hospitalization and/or Surgeons’ Services Associations (§§ 41 — 55) › § 55 - Construction with Workmen’s Accident Compensation Act

This chapter shall in no manner interfere with the hospital service rendered, or that may hereafter be rendered, under the Workmen’s Accident Compensation Act, §§ 1 et seq. of Title 11.
History —May 9, 1942, No. 152, p. 828, § 15, renumbered as § 21 on July 13, 1998, No. 122, § 3.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 4 - Financial Assistance Program for Non-profit Organizations Act (§§ 71 — 73) › § 71 - Lines of credit

A program is hereby established in the Economic Development Bank for Puerto Rico, to be known as the “Financial Assistance Program for Non-profit Organizations”, in order to grant lines of credit in an expedited manner to eligible non-profit organizations that show the Secretary of the Treasury that they are entitled to enjoy tax exemptions in those areas covered by the different applicable fiscal laws; to those non-profit organizations with approved Commonwealth or federal fund appropriations in effect, if the applicable procedures and regulations of the federal agency disbursing such funds allow for assignments of payment thereof, as well as the remittance of such payments directly to the Bank, and which participate in activities that are eligible for financing by the Bank in accordance with its applicable policies, rules, and procedures. “An expedited manner”, shall be understood as the period of time of up to twenty (20) calendar days, from the filing of an application for a line of credit with the Economic Development Bank for Puerto Rico. Such term may be extended at the organization's request. It is hereby established that the mere filing of an application does not in any way mean that there is a strong chance for approval of the requested line of credit.
It is also hereby provided that the non-profit organization shall be able to apply for assistance through the Program once it receives notice of the amount to be appropriated.
Provided, That in the case of Commonwealth fund appropriations, the applicable procedures and regulations of the agency, instrumentality, subdivision, municipality, and/or public corporation that would disburse such funds shall allow for assignments of payment thereof, as well as the direct remittance of such payments to the Bank.
The lines of credit granted under such Program shall be processed in an expedited manner.
Provided, further, that the entity or organization may only receive through such line of credit up to eighty percent (80%) of the proposal, appropriation, or donation approved by the government agency or instrumentality.
History —June 5, 2011, No. 83, § 2, eff. July 1, 2011.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 4 - Financial Assistance Program for Non-profit Organizations Act (§§ 71 — 73) › § 72 - Lines of credit—Use

Such lines of credit shall be used for the payment of administrative and operating expenses with a maximum interest of one percent (1%) of the prime rate. Provided, That in cases where the special circumstances, needs, and interests involved so require, the Economic Development Bank for Puerto Rico may exempt the participating entity from the payment of interests. The regulations required by this Section shall provide the applicable standards and requirements to grant such exemption.
The lines of credit shall be secured by Commonwealth or federal donation or appropriation granted to the non-profit organization for its operation and with any other available collateral that, in the judgment of the Economic Development Bank, reasonably secure their risk.
Depending on the merits of each particular case, the Economic Development Bank shall, in its discretion, establish the term for repayment of a line of credit granted under this chapter, as well as the time it shall take the pertinent government agencies to allocate and deliver any Commonwealth or Federal donations or appropriations under their control which have been granted to the non-profit organization in question.
Any agencies of the Government of Puerto Rico and its instrumentalities, subdivisions, municipalities, and/or public corporations with control or custody of Commonwealth or federal donations or appropriations approved for a non-profit entity to which a line of credit has been granted under the Program are hereby directed to disburse directly to the Economic Development Bank, after the appropriate assignment of accounts receivable by the corresponding non-profit organization, such donations or appropriations on account of payment for rendered services from any amounts due, provided that the assignment does not exceed eighty percent (80%) of the approved gift or appropriation. Interest accrued on such line of credit shall constitute an obligation of the contracting entity or organization. Participation in this Program is voluntary, and it seeks to offer non-profit organizations an alternative to address their financial needs without affecting the services they render.
History —June 5, 2011, No. 83, § 3, eff. July 1, 2011.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 4 - Financial Assistance Program for Non-profit Organizations Act (§§ 71 — 73) › § 73 - Regulations

The Economic Development Bank for Puerto Rico shall adopt regulations within ninety (90) days of the approval of this act to set forth the procedures and terms for evaluating and deciding on completed applications filed by eligible non-profit organizations.
History —June 5, 2011, No. 83, § 4, eff. July 1, 2011.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 5 - Acquisition of Public Property (§§ 101 — 108) › § 101 - Definitions

For the purposes of this chapter, the following terms or phrases shall have the meaning set forth hereinbelow:
(a) Agency. — Means any department, bureau, office, board, committee, authority or instrumentality of the Commonwealth of Puerto Rico, excluding municipalities and public corporations.
(b) Nonprofit entity. — Means any partnership, association, organization, corporation, foundation, institution, company or group of lay or sectarian persons, constituted and organized in accordance with the laws of the Commonwealth of Puerto Rico, that is dedicated substantially or fully to the direct rendering of educational, charitable, health or social welfare, recreational, cultural or service programs or activities to instill ethical, spiritual and human values and principles in the citizenry, which functions and operates as a nonprofit organization.
(c) Structures, buildings, facilities, or operation and service centers. — Means every area or space, with or without structures, where a nonprofit entity conducts its programs, activities, services or duties and administrative work, destined for warehousing or for lodging of officials or personnel.
History —Aug. 12, 1988, No. 172, p. 792, § 1.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 5 - Acquisition of Public Property (§§ 101 — 108) › § 102 - Authorization; requirements

The agencies of the Government of the Commonwealth of Puerto Rico are hereby authorized to sell such plots of land owned by them that are not of public use, that are leased or in any legal manner transferred for the use and enjoyment of nonprofit entities, on which they have located their structures, buildings, facilities or operation and service centers, at a price equal to their cost of acquisition. Every nonprofit entity which wishes to avail itself of the provisions of this chapter must meet the following requirements:
(a) Be duly organized and constituted pursuant to the laws of the Government of the Commonwealth of Puerto Rico, and registered in the Department of State.
(b) At the date of acquisition, has been established on the plot it wants to acquire and rendered the services to which it is devoted uninterruptedly for more than three (3) years.
(c) Show attesting evidence that it is substantially or totally devoted to the direct rendering of educational, charitable, health or social welfare services, to the rehabilitation, re-education or reorientation of persons with deficiencies in their physical or mental development, drug addicts or alcoholics, the care of the elderly or sick persons, to the prevention of diseases, counseling, attention or rescue of victims of crime, disasters or accidents, the rendering of recreational or cultural services, or to services, programs or activities to instill ethical, spiritual values and humanitarian principles in the citizens.
(ch) Operate as a nonprofit organization and render their services free of charge, at their real cost or at less than the real cost thereof.
(d) Comply with all laws and regulations of the Permit Management Office, as well as with any other applicable laws or regulations with respect to safety, use and access permits; their structures, buildings and facilities in the plot of land they want to acquire, and the permits and licenses for their operations or rendering of services.
(e) Establish before the Secretary of the Treasury their right to enjoy tax exemption in all those areas covered by the different fiscal laws that apply to them.
History —Aug. 12, 1988, No. 172, p. 792, § 2.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 5 - Acquisition of Public Property (§§ 101 — 108) › § 103 - Request of entity; public hearings

In every case in which a nonprofit entity requests that a plot of land leased, or otherwise legally transferred by an agency for its use and enjoyment be sold to it, the agency that owns it shall perform a study of necessity and convenience to determine, in accordance with public interest and taking into account the services rendered by such institution, whether it should sell said plot of land. At the discretion of the titleholder, and as part of the study of necessity and convenience the agency that owns the plot of land must hold a public hearing during non-working hours and in the community where it is located, after due notice to all owners and neighbors of the properties located within a radius of not less than one hundred (100) meters of the boundaries of the land to be sold, so that they can express their opinion with regard to such transaction.
History —Aug. 12, 1988, No. 172, p. 792, § 3.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 5 - Acquisition of Public Property (§§ 101 — 108) › § 105 - Subdivision; expenses of acquiring entity

The sale of the plots of land authorized by this chapter shall be made in accordance with the subdivision approved by the Planning Board, and the nonprofit entity that acquires the plot of land shall defray the required measuring and segregating expenses.
History —Aug. 12, 1988, No. 172, p. 792, § 5.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 5 - Acquisition of Public Property (§§ 101 — 108) › § 106 - Recording; rights and fees; exemption

The original as well as the first certified copy of the deed to transfer the title to the properties that are granted under the provisions of this chapter shall be exempted from the payment of the rights or fees required by law, as well as its recording in the corresponding section of the Property Registry Office of Puerto Rico.
History —Aug. 12, 1988, No. 172, p. 792, § 6.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 5 - Acquisition of Public Property (§§ 101 — 108) › § 107 - Regulations

The agencies shall adopt regulations in which the eligibility criteria of the nonprofit entities and the proceedings or procedures to implement its provisions shall be established pursuant to § 102 of this title.
History —Aug. 12, 1988, No. 172, p. 792, § 7.
2023 Laws of Puerto Rico › TITLE SIX - Nonprofit Associations (§§ 1 — 108) › Chapter 5 - Acquisition of Public Property (§§ 101 — 108) › § 108 - Annual report

The agencies of the Government of Puerto Rico shall report annually to the Legislature of Puerto Rico which plots of land have been sold in accordance with the provisions of this chapter. They shall consign in said report, the nonprofit entity to which a plot of land is sold, the surface area and location of the land sold, and the purposes or aims of the acquiring entity, among any other details that may be deemed necessary.
History —Aug. 12, 1988, No. 172, p. 792, § 8.
2023 Laws of Puerto Rico › TITLE SEVEN - Banking (§§ 1 — 3116) › PART I - Banks (§§ 1 — 278) › Chapter 1 - General Provisions and Definitions (§§ 1 — 4) › § 1 - Short title; use of term “bank”

Sections 1 et seq. of this title shall be denominated as the “Banking Law” and shall be applicable to every presently organized corporation or any corporation to be organized in the future, to engage in the banking business in Puerto Rico; Provided, That the term “bank” in the definition of a business shall only be used by those corporations engaged in the banking business.
The provisions of Act No. 144 of August 10, 1995, known as the “General Corporations Law of 1995”, shall be applicable to the banking corporations organized pursuant to §§ 1 et seq. of this title, provided they are not in contravention to §§ 1 et seq. of this title.
History —May 12, 1933, No. 55, p. 322, § 1; Aug. 28, 1997, No. 108, § 1.
2023 Laws of Puerto Rico › TITLE SEVEN - Banking (§§ 1 — 3116) › PART I - Banks (§§ 1 — 278) › Chapter 1 - General Provisions and Definitions (§§ 1 — 4) › § 2 - Compliance with requirements

For a bank to engage in the banking business in Puerto Rico, it must first comply with the requirements of §§ 1 et seq. of this title and engaging in such a business without having complied with them shall be penalized as provided hereinafter.
History —May 12, 1933, No. 55, p. 322, § 2; Aug. 28, 1997, No. 108, § 2.
2023 Laws of Puerto Rico › TITLE SEVEN - Banking (§§ 1 — 3116) › PART I - Banks (§§ 1 — 278) › Chapter 1 - General Provisions and Definitions (§§ 1 — 4) › § 4 - Secretary of State defined

Whenever used in §§ 1 et seq. of this title, the terms “Secretary of State” and “Secretary of State of Puerto Rico” shall be understood to mean the Secretary of State of Puerto Rico or his representative or employee authorized by the Secretary of State to act for him, unless otherwise clearly specified in the context.
History —May 12, 1933, No. 55, p. 322, added as § 5a on Apr. 26, 1949, No. 103, p. 256, § 1.
2023 Laws of Puerto Rico › TITLE SEVEN - Banking (§§ 1 — 3116) › PART I - Banks (§§ 1 — 278) › Chapter 3 - Incorporation and Organization (§§ 31 — 39) › § 34 - Restrictions on name of bank

No bank or foreign bank shall be established with the same name that is already in use by another institution, or so similar thereto as to give rise to confusion; but when a bank ceases conducting active business it may transfer or assign to another bank the right to use its name; Provided, That no bank shall use the name of any bank which has ceased to do business unless it has been previously incorporated under said name or has changed its own pursuant to the provisions of §§ 1 et seq. of this title; further, Provided, That if the assignment is made to a foreign bank, said foreign bank shall not use said name without having first filed its certificate of incorporation and complied with the other provisions of §§ 1 et seq. of this title; And further, Provided, That the fact that such transfer has taken place shall be published daily for a period of not less than a week in two (2) newspapers of general circulation in Puerto Rico.
History —May 12, 1933, No. 55, p. 322, § 7; Aug. 28, 1997, No. 108, § 7.