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1365g — Puerto Rico Law | CourtGPT
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  4. Title Seven - Banking (§§ 1 — 3116)/
  5. Part III - Other Financial Institutions/
  6. Chapter 86 - Cooperative Savings and Credit Associations Act of 2002 Sub/
  7. Subchapter V - Assemblies, Board of Directors and Committees § 1365a - Notice/
  8. 1365g
Puerto Rico Legal Code

1365g

Vacancies that arise among the members of the Board shall be filled by appointment through the vote of the majority of the remaining incumbent members duly constituted to such effects, subject to ratification by the corresponding general assembly of members, the district assembly, or the assembly of delegates, as pertinent. When a cooperative is organized by districts and the member who caused the vacancy is a member who represents a district, it shall be filled by the Board with another member of the corresponding district.Any person appointed by the Board to fill a vacancy shall appear for consideration by the next assembly of delegates, the next district assembly, or the next assembly of delegates, whichever is pertinent. Upon being ratified by the corresponding assembly, said director shall take office until the term for which the original director was elected and whose vacancy was filled, concludes. If not ratified, the assembly shall proceed to elect a director, who shall take office until the expiration of the term for which the original director who provoked the vacancy was elected. History —Oct. 28, 2002, No. 255, § 5.08.

Vacancies that arise among the members of the Board shall be filled by appointment through the vote of the majority of the remaining incumbent members duly constituted to such effects, subject to ratification by the corresponding general assembly of members, the district assembly, or the assembly of delegates, as pertinent. When a cooperative is organized by districts and the member who caused the vacancy is a member who represents a district, it shall be filled by the Board with another member of the corresponding district.Any person appointed by the Board to fill a vacancy shall appear for consideration by the next assembly of delegates, the next district assembly, or the next assembly of delegates, whichever is pertinent. Upon being ratified by the corresponding assembly, said director shall take office until the term for which the original director was elected and whose vacancy was filled, concludes. If not ratified, the assembly shall proceed to elect a director, who shall take office until the expiration of the term for which the original director who provoked the vacancy was elected. History —Oct. 28, 2002, No. 255, § 5.08.
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