P.R. Laws tit. 23, § 641
The Investment and Cooperative Development Fund, incorporated in compliance with the mandate delivered under §§ 481 et seq. of this title, known as the “Investment and Cooperative Development Fund Enabling Act”, is hereby attached to the Cooperative Development Commission. The FIDECOOP shall operate under the terms and conditions of its corporate charter and its statutes.
In service of the public purpose sought by the FIDECOOP, it is hereby provided that its budget shall be submitted to the Governing Board of the Commission for its evaluation and approval within the broadest context of the public policy formulated by such Board. Likewise, it is hereby provided for the FIDECOOP to organize and establish a Management and Support Unit for Budding Cooperatives. This Unit shall be organized to:
(1) Provide informational guidance about the cooperative model and the fundamental principles of the Cooperative Movement.
(2) Provide assistance in the process of forming, organizing, and incorporating cooperative enterprises.
(3) Implement a cooperative entrepreneurship and managerial and administrative skill-building program in coordination with the Cooperative League and the Cooperative Movement Institute.
(4) Implement a supervised internship program whereby college students may provide technical assistance to cooperatives with such needs.
In organizing this Unit, the FIDECOOP shall establish agreements and partnerships with the pertinent cooperative entities, private entities, and public bodies, including university institutions, especially the Cooperative Movement Institute.
The establishment and operation of this Unit shall not impair or replace the functions that the Cooperative Development Commission shall continue to discharge as the successor of the Cooperative Development Administration, especially in matters concerning the organization and incorporation of new cooperatives and the responsibilities entrusted to the Cooperative Development Administrator as provided for in §§ 1701 et seq. of Title 18.
History —Aug. 10, 2008, No. 247, § 17, eff. Feb. 1, 2009.