P.R. Laws tit. 23, § 643
(a) As a transitional measure, the Cooperative Development Administrator to be appointed by the Governor of Puerto Rico shall hold office, as of January 2, 2009, as Cooperative Development Commissioner. It is hereby expressly provided, that the Commissioner shall prepare any administrative reorganization plans as necessary to implement the changes provided for in this chapter, which appertain to both the Commission and the attached entities. These plans shall require the approval of the Governing Board of the Commission.
(b) As a transitional measure, the Executive President of the Public Corporation for the Supervision and Insurance of Cooperatives in Puerto Rico and the Executive Director of the Investment and Cooperative Development Fund in office by the date of effectiveness of this act, shall continue to hold such office, subject to the provisions of this chapter, until their successors are appointed by their respective Boards of Directors, with the ratification of the Board of Director of the Commission as of February 1, 2009.
History —Aug. 10, 2008, No. 247, § 28, eff. Feb. 1, 2009.