Cooperatives must be consistent regarding the following characteristics:\n(a) Indefinite term of duration;\n(b) variability and non-restriction of capital;\n(c) independence from partisan politics;\n(d) equality in the rights and obligations of the members;\n(e) recognition of one (1) single vote to each member of first grade cooperatives;\n(f) corporate reserves shall not be distributed;\n(g) admission as a member shall not be denied to any person by reason of race, gender, color, social position, religious belief, citizenship or political affiliation;\n(h) non-profit purposes, and\n(i) to promote socioeconomic development through common efforts.\nHistory —Sept. 1, 2004, No. 239, § 3.2.
Puerto Rico Legal Code