P.R. Laws tit. 23, § 638
Except for the provisions set forth in the third paragraph of this section, all the functions, powers, and career personnel of the Cooperative Development Administration are hereby transferred to the Cooperative Development Commission.
The Cooperative Development Administration, created by virtue of Act No. 89 of June 21, 1966, as amended, except to the extent necessary for the transfer of its assets, is hereby terminated and abrogated, with no need for any further action or for the execution of any deed or of any assignment, endorsement or transfer document of any kind; all of the assets of any kind which belong to the entity thus terminated shall come into the possession and shall be understood as assigned and transferred to the Cooperative Development Commission, which may dispose of these pursuant to the law and the public policy.
All of the functions and powers of the Cooperative Development Administration relative to oversight, supervision, and liquidation of cooperative entities, especially those provided for under the now repealed Section 7 of Act No. 89 of June 21, 1966, as amended, relative to receiverships, are hereby transferred to the Public Corporation for the Supervision and Insurance of Cooperatives.
So as to enable the Commission to discharge the functions, authorities, and powers entrusted by this chapter, a transfer is hereby made of the existing Cooperative Development Administration budget balances under the custody of the Department of the Treasury for the fiscal year in effect, as well as the funds available under other laws and special funds. Provided, That henceforth, the Commission shall operate with recurring funds appropriated to the Commission from the general budget of the Government of Puerto Rico.
The transfer of such special funds shall help maintain Cooperative Development Administration programs existing at the time of approval of this act. Debts, obligations, properties, and any other kind of assets or liabilities attributed to the funds thus transferred shall not be the responsibility of other agencies, public corporations, political subdivisions or other government entities of the Government of Puerto Rico. Such debts, obligations, properties, and any other kind of assets or liabilities shall be charged exclusively against the funds thus transferred. Any real property acquired by the Cooperative Development Administration shall be transferred to the Puerto Rico Cooperative Development Commission. As for personal property, the Director of the General Services Office shall issue a sworn report on property within a term of thirty (30) days as of the approval of this act and remit, within the same term, a copy thereof to the Legislature and the Office of the Comptroller, without this constituting an exemption from compliance with any similar provision relative to the disclosure of reports on property of agencies or instrumentalities. Provided, further, That the Director of the General Services Office shall have a term of thirty (30) days as of the date of issue of the sworn report on property, to make the transfer of the personal property, and within such term, he/she shall report on the completion of such transfer to the Legislature and the Office of the Comptroller.
The career personnel of the Cooperative Development Administration shall retain, even under the new organizational chart provided for in this chapter, all the rights, obligations, benefits, terms, and status, including their seniority, which they had at the time of approval of this act within the Cooperative Development Administration and under the law pursuant to such laws and regulations in effect at the time of approval of this act, within the entity with which they used to work, with respect to their employment in the Government service. Likewise, if any career employees were beneficiaries of any pension, retirement or savings and loan fund system or systems, they shall retain the rights, privileges, obligations, and status within the pension, retirement or savings and loan fund system or systems as prescribed for the career personnel of the Cooperative Development Administration.
All laws in which there is mention of or reference is made to the Cooperative Development Administration or the Cooperative Development Administrator shall be understood as amended to the effect of being replaced with the Cooperative Development Commission; Provided, That all functions and authorities of the Cooperative Development Administration which involve the formulation or adoption of norms or rulemaking or public policymaking shall lie with the Governing Board of the Commission.
History —Aug. 10, 2008, No. 247, § 14, eff. Feb. 1, 2009.