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262 — Puerto Rico Law | CourtGPT
  1. Home/
  2. Laws/
  3. Puerto Rico/
  4. Title Twenty-eight - Public Lands/
  5. Part II - Land Authority/
  6. Chapter 31 - Creation and Powers Sub/
  7. Subchapter II - General Powers and Faculties § 261 - General Rights and Powers/
  8. 262
Puerto Rico Legal Code

262

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When the Authority shall determine that the operation of any of the plants or factories or other facilities operated by the Authority or by its subsidiary corporations has returned a profit, it may authorize the distribution among the personnel in said plant or factory or other facility, by way of bonuses, on the basis and in the manner it may deem convenient, of such portion of such profits as it may deem fit. Provided, That the Authority shall deduct and retain from said profits such amount as it may consider advisable as a reserve fund for said plan or factory. History —Apr. 12, 1941, No. 26, p. 388, added as § 9 on Apr. 4, 1946, No. 270, p. 568; May 15, 1950, No. 429, p. 1048, § 6; June 27, 1958, No. 131, p. 315, § 5.