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4444 — Puerto Rico Law | CourtGPT
  1. Home/
  2. Laws/
  3. Puerto Rico/
  4. Title Five - Agriculture (§§ 1 — 4706)/
  5. Chapter 102 - General Cooperative Associations Act (2004)sub/
  6. Subchapter VI/
  7. 4444
Puerto Rico Legal Code

4444

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When the resignation and voluntary retirement of a member adversely affect the financial interests of the cooperative, its Board of Directors shall make a decision regarding said retirement so that it does not substantially impair the operations and services of the cooperative. When the cooperative has issued preferred shares, said shares shall be subject to the provisions of this section.\nHistory —Sept. 1, 2004, No. 239, § 9.3.