The Company’s bylaws shall provide for the operation of its internal affairs and the duties and responsibilities of its officers. The regulations shall be approved and shall be subject to amendment by the Board of Directors; Provided, That no regulation or any amendment thereto shall be effective until it has been duly entered in the official minute book of the Company, after approved in writing by the Board of Directors. The promulgation of regulations shall conform to §§ 2101 et seq. of Title 3, as amended, at all times. No bylaw shall be in conflict with the provisions of this chapter. History —June 23, 1961, No. 114, p. 234, § 9; Nov. 17, 1993, No. 90, § 7.
Puerto Rico Legal Code