Law Of Bureaucracy For The Creation And Operation Of Economic Units.

Original Language Title: LEY DE DESBUROCRATIZACIÓN PARA LA CREACIÓN Y FUNCIONAMIENTO DE UNIDADES ECONÓMICAS.

Read the untranslated law here: http://www.gacetaoficialdebolivia.gob.bo/index.php/normas/verGratis_gob2/153507

Law No. 779 law of 21 January 2016 EVO MORALES AYMA President constitutional of the PLURINATIONAL State of BOLIVIA, by how much, the plurinational Legislative Assembly, has sanctioned the following law: the Assembly Legislative PLURINATIONAL, DECREES: law of BUREAUCRACY for the creation and operation of units economic article 1. (OBJECT). This law aims to establish mechanisms to ensure the Debureaucratisation of formalities and procedures in the creation and operation of economic units.
Article 2. (SCOPE OF APPLICATION).
I. scope of the present law corresponds to all the central State level public entities and private entities related to the creation and operation of economic units.
II. public entities related to the creation and operation of economic units in the autonomous territorial entities, may subject to the provisions of this law.
Article 3. (DEFINITIONS). For the purposes of this law, the following definitions shall be taken into account: less bureaucracy. It is the optimization of the use of resources and time in the procedures and requirements for the creation and operation of economic units by the competent entities.

Competent entity. Any entity having its attributions by express legislation is the issuing a particular certification, upon verification of the requirements requested for the creation or operation of economic units.

Requirement. It is any form or other document required by a competent entity, in order to carry out a process of creation or operation of an economic unit.

Certification. It is every resulting document of requirements requested for a particular process of creation or operation of an economic unit, issued by a competent entity.

Economic unit. It is any natural or legal person engaged in trade, services, industry or any lawful economic activity within the framework of the plural economy.
Article 4. (CREATION).
I pursuant to the purpose of the present law, the following mechanisms are created: Yurina. It is the virtual system of digital information that articulates and connects the users and users, and stores, centralizes, computerizes and manages certifications and requirements for the creation and operation of economic units. This system will be used by all entity as unique medium of verification of the information registered in the same.

Registry of trade electronics Gazette. It is an electronic means of publication and the only valid means of advertising of the acts of trade set out in the code of Commerce.

Code Yurina of economic units. It is the internal code generated by the Yurina to identify the economic units.
II. the Yurina, the electronic Gazette of the register of trade and code Yurina of economic units, will be under the administration of the Ministry of productive development and Plural economy.

Article 5. (USERS AND USERS OF THE YURINA AND STORAGE).
I users and the users of the Yurina, are as follows: internal user. It is any competent entity integrated to the Yurina, responsible for the provision and immediate update of requirements and certifications according to its attribution, being responsible for the accuracy of the same.

External user. It is every natural person or legal enabled to perform queries to the Yurina, according to the degree of accessibility.
II. the requirements presented by the economic unit and checked by the internal user, will be scanned and stored by it immediately.
III. the requirements presented by the economic unit and checked by a competent entity, not may be newly required to the economic unit, except when lost its validity according to regulation.
IV. certification issued by the internal user must have digital signature pursuant to law N ° 164 of August 8, 2011? Law-General of telecommunications, information and communications technologies?.
V. The certifications issued by a competent entity, shall be considered as valid, avoiding duplication in the presentation of requirements.
SOLE ADDITIONAL PROVISION. Amending articles 128, 130, 131, 132, 142, 255, 288, 302, 331, 381, 452, 460, 649, 663, 726, 736 and 1494 of the commercial code, with the following text:? Article 128. (INSTRUMENT OF CONSTITUTION). The contract's creation or modification of a society, drawn up pursuant to the trade registry, fulfilling the requirements established in this code.?
? Article 130. (APPLICATION FOR APPROVAL OF CONSTITUENT WRITING AND STATUTES OF SOCIETIES BY SHARES). Anonymous and member societies by shares for listing on the register of Commerce, shall comply with the requirements established by it, in accordance with the provisions of this code.?
? Article 131. (VERIFICATION). The trade registry compliance with all legal requirements and, on the basis of them, approve or deny the registration within a period of forty-eight (48) hours. In case of refusal founded, return will history to make observations or deficiencies be remedied.?
? Article 132. (ADVERTISING). Do the instruments of Constitution, amendments and dissolution of societies in general, will be published in the register of trade electronics Gazette, except accidental associations or participation accounts.?
? Article 142. (SOCIAL CAPITAL).
I. the social capital will be fixed precisely, but can be increased or decreased in accordance with the provisions laid down in the instruments of Constitution or the statutes, unless legal provisions establish minimum capital for certain commercial activities.
II. resolution of increase or reduction of capital shall be entered in the register of Commerce, following publication in the electronic Gazette of trade registry, in accordance with the regulation issued by the latter.
III. capital increase by revaluation of assets is subject to the legal provisions governing the matter. ?
? Article 255. (PREEMPTIVE). Shareholders have preferential rights to subscribe new shares in proportion to the number of shares that have.
The society will make the offer through notices in the electronic Gazette of the commercial registry. Shareholders may exercise its preferential right within a period of thirty (30) days, calculated from the date of publication, if the statutes do not provide for one longer period.?
? Article 288. (ADVERTISING AND CONTENT OF THE CALL).
I call a general meeting shall be published at least seven (7) days prior to the execution of the same, in the electronic Gazette of trade registry, in accordance with regulations issued by the trade register.
II. the call will indicate the nature of the Board, place, time and agenda of the meeting and the requirements that must be met to participate in it.
III. advertising of the call to shareholders, all technological means which are available may be used.
?

? Article 302. (CHALLENGE OF NULLITY).
I any resolution of the Board which violates the provisions of this code or the statutes, can be challenged for annulment by directors, managers, trustees or administrative authority Comptroller or by any shareholder who had not participated in it, or having attended, had noted his dissent, and in general, when the resolution is contrary to public order.
II. also, can challenge the call for the meeting which does not comply with the provisions set out in this code and the statutes.
Do III. action should be directed against society, within sixty (60) days following the meeting or publication in the electronic Gazette of trade registration, documents that cover the demand, and must dealt summarily with.?

? Article 331. (PUBLICATION OF THE REPORT).
I. the directory of all Corporation must establish and publish annually the memory, prior consideration and approval in general meeting. The memory will contain the balance sheet, income status and any other additional information, in accordance with the regulations issued by the trade register.
II. the publication of the report must be in the electronic Gazette of trade registry within six (6) months following the close of each financial year. From its publication, the memory will be available to any interested party.
III. breach will encourage the suspension of President and CEO for a period up to six (6) months, during which time the memory shall be published. The authority of control competent apply those sanctions respective. ?
? Article 381. (EFFECT AS REGARDS THIRD). It dissolution takes effect concerning third from the date of its registration in the register of trade and, in case of societies by actions, from it publication in it Gazette electronic of the record of trade.?
? Article 452. (CESSATION OF THE LIABILITY OF THE SELLER). The responsibility of the alienating facing third, shall cease with the prior compliance of them following requirements: that is has given notice to them creditors about the transfer by publication in the Gazette electronic of the registration of trade;

That is has made know to the creditors directly, by letter notarized or another medium of communication; and, that within the term of thirty (30) days from its publication, not will have opposite them creditors to accept to the acquirer as debtor.

Will the affected creditor do register their opposition to the trade registry within the term stated in the third paragraph.?
? Article 460. (LOCAL CHANGE NOTIFICATION).
I to proceed with the change of location in a company, it shall notify all creditors through publication in the electronic Gazette of the commercial registry.
II. the omission of this requirement unless the change in the register of Commerce, has joined will result to be consider expired term debts, and can the debtor remedy the omission until just before sentencing is, opposing as peremptory exception notification to the corresponding action, otherwise will be enforceable immediately payment of credit, which always comes from the rotation of the company. ?
? Article 649. (PUBLICATION OF BALANCE).
I. the issuer must annually publish their balance reviewed by the auditor, within three (3) months following the close of the period. The publication will take place in the electronic Gazette of the commercial registry.
II. the omission of the presentation of the balance sheet for publication, shall entitle any holder to demand it and, if you don't do it within one month after the request, may give up titles or values that are appropriate. ?
? Article 663. (PUBLICATION OF THE RESULT OF THE DRAW). Do the results of the draw must be published in the electronic Gazette of the commercial registry?.




? Article 726. (REPLACEMENT OF TITLES REGISTERED).
I personal titles can be spare parts by the issuer without judicial authorization, provided that one to whose name are registered requests it.

II. prior to replacement, the issuer shall be published in the register of trade electronics Gazette, a notice with all the features necessary to identify the titles of respective values, clearly indicating its replacement. Not applicable replacement until after thirty (30) days of the date of publication.
III. If within thirty (30) days referred to in the previous paragraph, someone oppose replacement presenting the advisability that are presumed lost, this can only be performed if legally ordered.?
? Article 736. (TERMINATION OF THE PRIOR TITLE REQUIREMENTS). (Though not after the time limits specified in subparagraphs 2) and 3) of the 735 article of this code, may be provided the cancellation of the title if not enforceable payment within three (3) months following the publication of the notice in the electronic Gazette of the register of Commerce and is satisfacieren the following requirements: publication in the electronic Gazette of the commercial registry Announcing the origin of the early termination of the title; and the granting of one guarantee sufficient, in the opinion of the judge, the case that presents a person who check right on the title that is lost or destroyed and display or present a fraction of it, more than the displayed by the applicant.?
? Article 1494. (ADVERTISING). Will any publication ordered in this title be in the electronic Gazette from trade register, except for certain cases.?
TRANSITIONAL PROVISIONS FIRST. The Ministry of productive development and Plural economy, by Ministerial resolution, shall adopt regulations for the implementation of the Yurina and code Yurina of economic units, in one period not exceeding (ninety 90) calendar days from the publication of this law.
THE SECOND. The Ministry of productive development and Plural economy, by Ministerial resolution, shall adopt the necessary rules for the implementation and operation of the electronic Gazette of the trade registry, in one period not exceeding (ninety 90) calendar days from the publication of this law. The provisions contained in this law relating to the registration of trade electronics Gazette, will take effect from its regulations.

FINAL PROVISIONS FIRST. Internal users defined in this law, shall adapt its technology systems and procedures procedures for adaptation to the Yurina.
THE SECOND.
I integrated the Yurina, entities are initially: Commerce registration service.
National tax service? WITHOUT.
(c) short-term Social security entities.
(d) long-term Social security entities.
e) Ministry of labour, employment and Social Welfare.
National agricultural health and food safety - service SENASAG.
II. the autonomous territorial entities may join the Yurina, prior signing of an agreement intergubernativo, within the framework of the provisions of the law No. 492 of 28 January 2014, agreements and conventions Intergubernativos; and, III. Other public or private entities that are progressively incorporated according to regulations issued by the Ministry of productive development and Plural economy.
THIRD. The implementation of this law will not involve additional resources from the General Treasury of the nation.
SOLE REPEAL AND ABROGATION PROVISION. All provisions contrary to this law are hereby repealed and repealed.

Refer to the Executive Body for constitutional purposes.
Two thousand and sixteen is given in the room sessions of the Assembly Legislative plurinational, twelve days of the month of January of the year.
FDO. José Alberto Gonzales Samaniego, Lilly Gabriela MONTAÑO Viana, Ruben Medinaceli Ortiz, Victor Hugo Zamora Castedo, Nelly Lenz Roso, A. Claudia Torrez ten.
I therefore enacted it is and meets as a law of the plurinational State of Bolivia.
Government Palace of the city of La Paz, at twenty-one days of the month of January of the year two thousand and sixteen.
FDO. EVO MORALES AYMA, Juan Ramón Quintana Taborga, Luis Alberto Arce Catacora, Ana Veronica Ramos Morales, Milton clear Hinojosa, Jose Gonzalo Trigoso Agudo, Cesar Hugo Cocarico Yana, Marianela Paco Durán.