2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 23 - Puerto Rico Industrial Development Company (§§ 271 — 303) › § 281 - Officers and employees

(a) The appointments, removals, promotions, transfers, dismissals, reinstatements, suspensions, leaves of absence and changes in grade, compensation or title of the officials and employees of the Company shall be made and allowed as provided in the rules and regulations approved by the Board, leading to a general plan, insofar as said Board shall deem it consistent with the best interests of the Company, its employees and its services to the public, similar to that which may be in effect for the employees of the Commonwealth Government under the public service personnel laws of Puerto Rico. The officials and employees of the Company shall be entitled to reimbursement of such necessary travel expenses, or per them payments in lieu thereof, that are authorized or approved pursuant to the regulations of the Company. The officials and employees of any board, commission, agency or department of the Commonwealth of Puerto Rico may be appointed to similar positions in the Company without examination. Any of the officials or employees of the Commonwealth thus appointed, and who prior to their appointment were beneficiaries of any existing pension, retirement or savings and loan fund system or systems, shall continue to enjoy, after said appointment, the rights, privileges, obligations and status, with respect to said system or systems that are prescribed by law for officials and employees that hold similar positions in the Commonwealth Government, unless within the term of six (6) months after the effectiveness date of this act, or six (6) months after said appointment, whichever is later, said officials and employees, or any of them, notifies their intention of relinquishing them, it being understood that in this case they shall then have those that correspond to Commonwealth Government officials or employees who have resigned or been separated; and all employees thus appointed to positions in the Company who at the time of their appointment, held or would have held positions in the Commonwealth Government or who enjoyed any right or status under the rules and classifications in force pursuant to the Puerto Rico personnel laws, shall retain the same status, with respect to employment or reemployment in the Commonwealth Government service, that they enjoyed at the time they entered the service of the Company, or such better rights or higher status that the Central Personnel Administration Office may deem to be pertinent to the position and benefits attained in the Company. All officials and employees appointed to positions in the Company who, at the time of their appointment, enjoyed, or later acquired any rights or attained any status under the rules and classification of the Central Personnel Administration Office for appointment to any similar position in the Commonwealth Government, shall have, upon request, the rights, privileges, obligations and status, with respect to becoming beneficiaries of any existing pension, retirement or savings and loan fund system or systems, as if they had been appointed to a similar position in the Commonwealth Government. The Company shall be subject to the provisions of Act No. 96 of June 26, 1956, as amended.
(b) No person shall hold an executive office in the Company who has substantial direct or indirect financial interest in any privately owned business which is financed by, or which is in competition with a business engaged in or financed by the Company.
History —May 11, 1942, No. 188, p. 934, § 11; May 14, 1952, No. 456, p. 950, § 9; renumbered as § 10 and amended on Dec. 29, 1997, No. 203, § 8, eff. Jan. 1, 1998.