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Financial Institutions Law Nro. 21526 - Modification - Full Text Of The Norm

Original Language Title: ENTIDADES FINANCIERAS LEY NRO. 21526 - MODIFICACION - Texto completo de la norma

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image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
FINANCIAL ENTITIES Law 25.782 Amend Law No. 21.526 (text under Law No. 24.144, with amendments introduced by Laws No. 24.485 and 24.627). Sanctioned: October 1, 2003. Enacted: October 30, 2003.

The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force of Law:

ARTICLE 1 Replace article 4 of Law 21.526 (as amended by Act No. 24.144 and Act No. 24.485 and 24.627) with the following:

Article 4 . The Central Bank of the Argentine Republic will be responsible for the implementation of this law, with all the powers that it and its Organic Charter agree on. It shall rule the regulations that are necessary for their compliance, for which purpose it shall establish differentiated regulations and requirements that shall ponder the class and legal nature of the entities, the quantity and location of their houses, the operating volume and the economic and social characteristics of the sectors concerned, dictating specific rules for the credit boxes. It will also exercise the control of the entities within it.

ARTICLE 2 Replace article 26 of Law 21.526 with the following:

Article 26: Credit boxes may:

(a) Receiving deposits in sight;

(b) Receive term deposits of up to ten thousand pesos per holder, which may be updated by the Central Bank of the Argentine Republic;

(c) To grant credits and other short- and medium-term finances for small and medium-sized urban and rural enterprises, including single-person, professional, artisans, employees, workers, private individuals and entities of public good;

(d) Grant guarantees, bonds and other guarantees;

(e) Make investments of a transitory nature in easily liquidable placements;

(f) Implementing mandates and related commissions with their operations;

(g) Debit letters of change turned against deposits on the side of your headlines in favor of third parties.

The credit boxes will operate in a single house and exclusively with their associates, who must have signed a minimum social capital of $ 200, which can be updated by the Central Bank of the Argentine Republic and are based in the party, department or jurisdictional division equivalent of the respective province, corresponding to the domicile of the entity, and in the respective electoral district in the case of the Autonomous City of Buenos Aires. They should submit regular information to their partners on their state of state of state of property and capacity to fulfil their obligations, in accordance with the regulations issued by the implementing authority.

Credit boxes shall be constituted as cooperatives and shall distribute their returns in proportion to the services used and shall apply to them the limitations set out in the first two paragraphs of Article 115 of Law 20.337.

Article 3 In no case can cooperative credit boxes transfer their trade funds to entities of another legal nature or become commercial entities through any legal procedure.

ARTICLE 4 The existing credit boxes must adapt their operation to that of this law within 90 days of its entry into force.

ARTICLE 5o The executive branch shall publish the orderly text of Law 21.526 and its modifications within the time of the nineties (90) days counted from the date of publication of this Law.

ARTICLE 6 Contact the Executive.



EDUARDO O. CHANGE. . DANIEL O. SCIOLI. . Juan C. OyarzĂșn. . Juan J. Canals.