4590

It is the public policy of the Commonwealth of Puerto Rico to promote the creation of housing cooperatives in which the members own exclusive titles to their housing units within the legal framework of cooperatives as an additional alternative which shall result in better quality of life, self-management initiatives and community organization, as well as security for low and moderate income families. Since this is a voluntary regime, private property is subject to rules of conduct normally established in housing cooperatives and restrictions on the powers to dispose in order to avoid speculation and ensure the preservation and development of the cooperative property and capital. The provisions in this subchapter shall be liberally construed in order to achieve the social purposes contained in this public policy and for the preservation of the cooperative entity.\nHistory —Sept. 1, 2004, No. 239, § 35A.0.