Puerto Rico Proposed amendment to Bylaws regarding director and officer indemnification with copy of amendment
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How to fill out Proposed Amendment To Bylaws Regarding Director And Officer Indemnification With Copy Of Amendment?
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FAQ
As Puerto Rico is under United States sovereignty, U.S. federal law applies in the territory, and cases of a federal nature are heard in the United States District Court for the District of Puerto Rico.
Act No. 164 of 2009(See), General Corporations Act, places Puerto Rico at the forefront of laws on legal entities. This statute is intended to streamline the management of these legal entities and simplify the procedures contemplated therein.
Puerto Rico's status as an unincorporated U.S. territory (like the U.S. Virgin Islands) does not make Puerto Ricans constitutional citizens. The United States does not treat Puerto Rico as fully equal to the states before the law, and Puerto Ricans lack full protection under the U.S. Constitution.
The Congress shall have Power to dispose of and make all needful Rules and Regulations respecting the Territory or other Property belonging to the United States; and nothing in this Constitution shall be so construed as to Prejudice any Claims of the United States, or of any particular State.
Supreme power belongs to the US Congress. The island has its own system of self-government, with three branches of government. Puerto Rico also has its own constitution, while the powers of the US Constitution are limited on the island.
Puerto Rico has not become an independent nation; neither has it become a State of the Union. It remains a territory of the United States.