Every member of a cooperative shall have the following obligations with regard to the same:(a) Comply with the corporate clauses, the general regulations and the obligations imposed by this chapter;(b) make the periodic contributions to the share account as provided by the general regulations of the cooperative. The cooperatives shall be authorized to include the periodic payments of said shares as required in the general regulations as part of the payment of loans that are granted to the members and make direct discounts from the deposit accounts to make said contributions;(c) protect the interests of the cooperative and the good credit and public trust thereof;(d) fulfill every contract, covenant, commitment, or social or pecuniary obligations contracted with the cooperative, and(e) perform the functions of the office for which he/she is elected or designated, responsibly, and punctually attend the meetings of the committees to which he/she belongs. History —Oct. 28, 2002, No. 255, § 4.03. Every member of a cooperative shall have the following obligations with regard to the same:(a) Comply with the corporate clauses, the general regulations and the obligations imposed by this chapter;(b) make the periodic contributions to the share account as provided by the general regulations of the cooperative. The cooperatives shall be authorized to include the periodic payments of said shares as required in the general regulations as part of the payment of loans that are granted to the members and make direct discounts from the deposit accounts to make said contributions;(c) protect the interests of the cooperative and the good credit and public trust thereof;(d) fulfill every contract, covenant, commitment, or social or pecuniary obligations contracted with the cooperative, and(e) perform the functions of the office for which he/she is elected or designated, responsibly, and punctually attend the meetings of the committees to which he/she belongs. History —Oct. 28, 2002, No. 255, § 4.03.
Puerto Rico Legal Code