Modifies Law Cooperatives-General

Original Language Title: MODIFICA LA LEY GENERAL DE COOPERATIVAS

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"Article 1.-Introducense the following |! |" modifications to the General Law of cooperatives, whose |! | consolidated text is contained in the Supreme Decree Nº |! | 502, from September 1, 1978, the Ministry of |! | Economy, development and reconstruction: 1. replaced the article 1st by the following: "article 1.-for the purposes of the present law |! |" cooperatives are associations that in accordance with |! | the principle of mutual aid aims to improve |! | the living conditions of its members and presented the |! | following fundamental characteristics: the partners have equal rights and obligations, |! | a single vote per person and your income and retirement is |! | volunteer.
They must distribute the corresponding surplus to |! | operations with partners, in proportion to those.
They observe religious and political neutrality |! | activities of cooperative education and |! | ensure relationships including federal e |! | inter-cooperative. "."
2. replace article 2º, by the following: ' article 2.-the cooperatives may have by |! | " object any activity and shall be subject to the |! | provisions of this law and its regulations.
Without prejudice to the provisions of subsection |! | earlier, in terms of the operations of its |! | giro, cooperatives are subject, in that they are |! | applicable to the regulation and control set |! | by special laws governing economic activity |! | which is its object. "."
3 repealed article 3.
4 repealed article 4.
5 repealed article 5.
6 repealed article 6.
7 replace the article 7 th, by the following: ' article 7.-the cooperatives, according to their |! | " statutes, will combine purposes of various |! | classes, except those that must have unique object as the |! | Open housing cooperatives, savings and |! | credit and any other established law. "."
8 replace the article 8th, by the following: ' article 8.-the cooperatives can operate with |! | " third-party. However, may not provide them |! | combinations or agreements that do participate in these |! | directly or indirectly from tax benefits or |! | another order that this law grants these |! | entities. "."
9 repealed article 9.
10 repealed article 10.
11. replace article 11th, by the following: ' article 11.-the cooperatives organized |! | " pursuant to this law shall enjoy personality |! | legal.
The corporate name shall contain elements |! | indicative of the cooperative nature of the |! | institution, which may be omitted in the symbol or |! | designation of fantasy that is adopted.
No cooperative may adopt a social reason |! | identical to the of other pre-existing. Inclusion in the |! | business name of a reference to your object will not be |! | sufficient to determine that identity there is no in the |! | same. "."
12 replacements items 12 to 16 degrees by the |! | following: "article 12.-the minutes of the AGM |! |" Constituent, that must be reduced to writing |! | public, shall state the name, profession or |! | activity, address and national identity card of |! | Members who attend its Constitution. In addition, |! | It must be entered in this, the approval of its statutes and |! | the full text of these.
The Statute must contain, subject to this |! | (ley y ael reglamento, las siguientes menciones mínimas: a) company name, registered office and duration of the |! | cooperative. In the event of no note duration, be |! | It is understood that this is indefinite. If not designated |! | domicile, shall be domiciled in the place of |! | provision of the instrument of its Constitution;
(b) the specific objects to be pursued;
(c) initial capital subscribed and paid; form and term |! | in that will be learned, if any; initial number of |! | fees which must be multiples of a hundred, in which are |! | divided capital and indication and evaluation all |! | contribution that does not consist in money;
(d) the way in which the co-operative will finance its |! | administrative expenses; the internal organism which |! | fix contributions; the Constitution of reserves and the |! | distribution of remnants and excess policy; the |! | mandatory minimum information to be delivered |! | periodically and at the time of the entry of members to |! | the cooperative; the limitations to the right of renouncement |! | the cooperative and modalities to the |! | return of capital contributions made by the |! | partners;
(e) requirements to be able to be admitted as a partner; |! | rights and obligations, and grounds for exclusion of the |! | same;
(f) periodicity and timing and |! | formalities of convocation of the General meetings of |! | Partners, which, in any event, will be held at thing |! | least once a year within the next semester to |! | the preparation of the balance sheet;
(g) matters which will be the subject of general meetings of |! | Partners; determination of the minimum quorum for |! | transaction of business and the number of votes necessary to adopt |! | agreements, both of a general nature such as those |! | required by the importance of special rules, such as |! | those to which refers article 139 of this law;
(h) number of members of the Board of |! | Administration, duration of counselors in |! | their charges, and if they may or not be re-elected, if the |! | renewal of members will be made by installments or |! | in their entirety; periodicity of celebration and |! | formalities of convocation of the meetings of the |! | Council; materials which will be the subject of sessions |! | ordinary and extraordinary; minimum quorum for |! | session and adopt agreements of a general nature or envelope |! | materials requiring standards for its importance |! | (special, e i) other laying down the rules of procedure.

Article 13.-a summary of the social writing, |! | authorized by the respective notary, you must register |! | in the trade registry of the conservative's goods |! | Estate corresponding to the domicile of the cooperative, and |! | published once in the Gazette.
This summary shall state, at the very least, the |! | company name, address, and duration of the cooperative, the |! | enunciation of its object, the number of partners than |! | they attended to their Constitution, the subscribed capital and |! | paid, the name and address of the notary before whom |! | was reduced to public deed certificate, and the date of the |! | writing.
Registration and publication referred to the |! | preceding subparagraphs, shall be performed within the 60 |! | days following the date of reduction to writing |! | public of the minutes of the constituent General meeting.
14 article. -The minutes of the General meetings |! | partners in which a reform agreed statute |! | or the merger, division, transformation or dissolution of |! | cooperatives, and extracts thereof, shall be governed by thing |! | provisions of the preceding articles.
In these cases, the respective summary will be |! | need to refer to the specific content of the |! | Agreement, in addition to expressing the social reason of the |! | cooperative, the name and address of the notary before the |! | which has been reduced to writing public act and the |! | date of such writing.
Article 15.-the cooperative in which writing of |! | Constitution omits provisions of subsection first |! | Article 12 or any of the required mentions |! | (((in the lyrics to), b) and c) of the same article; or whose |! | summary has been registered or published belatedly or not |! | It has met with the rest of the demands of the |! | Article 13, is null and void, without prejudice to the sanitation in |! | accordance with the law.
The reform of statutes and the merger agreements, |! | division, transformation or dissolution of the |! | cooperatives, provided that they consist of public deed, |! | instrument reduced public deed or |! | formalized, and whose respective extracts have been |! | duly registered and published, even of the |! | same invalidity established in the first subparagraph, if in |! | These omitted any required mentions in |! | Article 14 of this law. However these reforms and |! | agreements will produce effects against partners and |! | third-party while it has not been declared invalid.
The Declaration of these nullities will not produce |! | retroactive effect and shall apply to the situations |! | that occur from the time that becomes |! | rendered resolution containing it; all without |! | prejudice to the sanitation that proceed in accordance to |! | the law.
Equipped for the omission, any |! | essential disagreement which exists between the writing of |! | Constitution or agreements concerning the |! | preceding paragraph and the respective registration or |! | publication of the summary. It is understood by |! | the essential disagreement which induces an erroneous |! | understanding of the extracted script.
Declared the nullity of the cooperative, this |! | It shall enter into liquidation, subsisting personality |! | It is legal to do so. The liquidation shall be carried out |! | in accordance with the provisions of article 53 of this law.
The grantors of the Pact declared null answer |! | jointly and severally liable to third parties with whom have |! | hired on behalf and in the interest of the cooperative.
Also the third parties that contract with a cooperative |! | that has not been legally established, they won't be able |! | evade compliance because of the invalidity of its |! | obligations.
The nullity of the establishment of a cooperative or |! | the reforms or agreements referred to in article |! | 14 of this law, for omissions that finf the |! | extract registered and posted, or non-conformities |! | essential between it and the respective deed |! | public, or defects in the announcement or development |! | meeting of partners, may not be invoked after |! | two years from the date of the granting of the |! | respective writing. This prescription will run against |! | any person and do not accept any suspension. Expired |! | that time limit, the provisions of writing |! | They shall prevail over the of the extract.

Article 15 bis.-without prejudice to the above in |! | the previous article, the cooperative that no record by |! | public deed, or in small instrument to |! | deed, or the summary has not been registered |! | or published, it is null void and may not be |! | healthy.
The existence in fact, will lead to a community |! | between its members and gains and losses are |! | they will be distributed and will support and the return of contributions |! | will it be among them according to what has been agreed. A |!| lack of agreement be governed by the provisions of this law and its |! | Regulation.
Members of the community will respond |! | jointly and severally liable to third parties with whom have |! | contracted on behalf and in the interests of this and not be able |! | oppose the lack of instruments to third parties |! | referred to in the first subparagraph. Third parties may |! | accredit the existence in fact of the cooperative by |! | any of the evidence that recognizes the |! | Commercial code and the test will be appreciated according |! | the rules of healthy criticism.
The reform of statutes and the merger agreements, |! | division, transformation or dissolution of the |! | cooperatives, not contained by public deed, nor |! | in reduced public deed, instrument or whose |! | respective extracts have not been registered or |! | published, will not produce effects or partners |! | or against third parties, full-fledged, without prejudice of |! | the action for unjust enrichment which proceed. |!| The foregoing shall be without prejudice to the sanitation in |! | According to the law and with the restrictions that this |! | It imposes.

Article 16.-those interested in becoming |! | credit unions and open housing |! | they must be subject to the approval of the Department of |! | Cooperative study socio-economic envelope the |! | conditions, financial possibilities and plans of |! | work which they intend to develop. In the event of rejection |! | be claimed before the Undersecretary of economy, |! | Building and reconstruction, within 15 days |! | following the date of receipt of the office through |! | which has been rejected the socio-economic study. The |! | Department of cooperatives will have a period of 60 days |! | to make comments or objections to the study |! | socio-economic; If not made within said |! | term, the study shall be deemed approved.
The constituent general meeting of cooperatives |! | referred to in subsection precedent should celebrate |! | subsequent to the approval of the respective study |! | socioeconomic. "."
13 replace the article 17th, by the following: ' article 17.-except cases specially |! | " provided for in this law, the number of partners a |! | cooperative will be unlimited, from a minimum of |! | 10.
If the number of members of a co-op are |! | It redujere to a number less than the designated minimum in the |! | preceding paragraph, it shall be granted within six months |! | to complete it. In case of not achieving it will be |! | dissolved by the only Ministry of law, must the |! | Directors or the Manager to publish the fact of its |! | dissolution in the official journal within the sixties |! | days following the expiry of the period of six months |! | before concerned and, in addition, subinscribir the dissolution to the |! | Apart from the registration in the register of Commerce |! | respective, within the same period. Directors or the |! | Manager not complying with this obligation will be |! | jointly and severally responsible for the damages that cause |! | to third parties because of the lack of publication or |! | under-registration.
Persons may be members of a co-op |! | natural and legal persons under public law or |! | private. "."

14 repealed article 18.
15. replace article 19 th, by the following: ' article 19.-the members of the cooperatives |! | " they may belong to two or more entities equal |! | purpose, unless its statutes forbid it.
Provided that is compatible with the nature of the |! | object of the cooperative statutes shall authorize that |! | the heirs of the deceased partner to continue as |! | members of the cooperative as an undivided community, |! | must designate a common prosecutor than the |! | represent.
The person who is more than one cooperative partner |! | same purpose, can only play charges |! | managers in one of them.
The statutes of cooperatives may prohibit |! | partners carried out, within the area of |! | operation pointing, it operations |! | nature of the respective cooperative run. "."
16 replace the article 20º, by the following: "article 20.-the acquisition, exercise and the |! |" loss of membership and mutual benefits |! | on that there is a place for these causes, will be governed by the |! | statutes in accordance with the rules of this law.
The regulation issued will be in this matter, |! | supplementary statutory provisions. "."
17 replaced article 21 th, by the following: ' article 21.-the cooperatives may suspend |! | " temporarily partners income, when their |! | resources are insufficient to meet them.
Not the income of partners may be limited for reasons |! | political, religious or social, without prejudice of the |! | right of the Board of Directors of qualifying the |! | income partners. "."
18. replace article 22 degrees, by the following: ' article 22.-no partner may be proprietary |! | " more than 20% of the capital of a cooperative, except |! | in the case of savings and credit cooperatives in |! | that the maximum allowed will be 10%. "."
19. replace article 24th, by the following: "article 24.-the person who has lost the |! |" membership by waiver or exclusion and the |! | heirs of the deceased partner will be entitled to the |! | return of the updated amount of its contributions of |! | participation with the modalities established in the |! | statutes.
The waiver may only be rejected where |! | laid down in the statutes or other rules applicable |! | cooperatives.
The adoption of any of the above agreements in |! | ((((las letras e), g), h), m) and n) of article 41 bis, and |! | the substantial modification of the corporate purpose, as by |! | example that involves the realization of new |! | activities not related directly or indirectly with |! | the original object, granted right to dissenting partner |! | to withdraw from the cooperative, which can't refuse |! | surrender under any circumstances.
Be considered dissident partner who in the |! | respective Board has opposed the agreement |! | relevant or which, having not attended the Board, |! | manifest their dissent by writing to the cooperative, |! | within the period of thirty days from the date |! | the agreement was adopted in that.
The dissenting member that withdraws from the cooperative |! | He is entitled to be paid within the period of 90 |! | days or within the time specified in the statutes, if |! | lower, from the date of presentation of the |! | withdrawal request, the value of their shares of |! | participation.
The right of withdrawal shall be exercised within |! | the thirty days following the date on which the Board |! | partners-general has adopted the agreement that thing |! | motive, by written communication addressed to the |! | cooperative in which the partner should express |! | clearly their willingness to retire by being in |! | disagreement with the decision of the respective Board. Bliss |! | communication must be sent by registered letter or by |! | through a notary public stating so.
This formality shall not be required when the Manager or who |! | do your times leave written receipt record |! | the aforementioned communication.
The Board of Directors may convene a |! | new annual general meeting which shall be held at the latest |! | within thirty days following from the |! | the deadline for exercising the right to withdrawal, |! | to reconsideration or ratify the agreements than |! | They motivated their exercise. If on the Board is revocaren |! | the mentioned agreements, will expire the referral right to |! | removal. If these agreements are ratificaren, will not open |! | a new deadline for exercising it. "."
20 replaced the name of title IV of the |! | Chapter I of the law of cooperatives, by "capital and |! |" surpluses".
21 replaced the article 25th with the following: "article 25.-the capital of cooperatives will be |! |" variable and unlimited, from the minimum laid down their |! | statutes and it will form with the fees that pay the |! | partners for the subscription of their assessments of |! | participation. The statutes shall lay down the amount of contributions |! | minimum requirements that members must be carried out for |! | merge or keep as such.
The heritage of these entities will be formed |! | by the capital contributions made by the partners, |! | legal and voluntary reserves and surpluses or |! | existing losses at the end of the accounting period.
The participation of partners in the heritage is |! | It expressed in participation fees, whose value will be the |! | resulting from the sum of the value of their contributions of |! | capital, more voluntary reserves and more or less, |! | as appropriate, the designated monetary tightening in the |! | third subparagraph of article 30 of this law and the |! | surplus or existing losses, divided by the total |! | participation shares issued at the close of the |! | period.
The value of the participation fees are |! | updated periodically in the opportunities |! | State law or the respective set it |! | Inspector.
In housing cooperatives and the savings |! | and credit, the initial capital shall not be less to the |! | minimum equity that establishes the law for each of |! | them.
In the open housing cooperatives, will not be able |! | deemed capital economic resources |! | the partners contribute to them in order to pay |! | the whole or part of the price of the property you acquire to |! | through the cooperative, when the partner which brings them |! | is not incorporated into any housing programs |! | specific. May not be considered capital the |! | resources to saving and credit cooperatives |! | received from its partners by a different concept to the de |! | subscription of participation fees.
If partner does not pay timely contributions of |! | capital subscribed by it, the unpaid balances will be |! | collected in the manner provided for in article 34.
The initial capital must be paid within the time limit |! | that you determine the statutes.
The capital increases shall be paid in the form |! | or within a period agreed upon by the General meeting of members.
Once the period stipulated by the statutes expired |! | or agreed to by the competent authority, without having it |! | heard the subscribed capital or capital increases, |! | as appropriate, this shall be reduced to the amount |! | effectively paid. "."
22 repealed article 26.
23 replaced the article 27th by the following: "article 27.-the liability of the members of |! |" cooperatives will be limited to the amount of dues |! | participation. "."
24 repealed article 28.
"(25.-En el artículo 29º: a) replace paragraph first |! |" actions"by"participation fees".
(b) replace the second paragraph by the following: "prohibited the creation of participation fees of |! |" Organization and privileged. "."
(c) repeal of its third paragraph.
26 replaced article 30º, by the following: ' article 30.-the cooperatives must practice |! | " balance sheet at 31 December of each year, without prejudice of |! | the submission of periodic financial statements in the |! | opportunities that determine its statutes or the |! | respective audit institution, when |! | appropriate. The Board of Directors of the |! | cooperative credit unions and the open de |! | housing shall, in addition, present a reasoned report |! | about the situation of the cooperative in the period.
Cooperatives must be monetarily corrected |! | assets and liabilities in accordance with the established |! | in article 17 of the Decree Law No. 824, 1974.
However, the regulation will establish rules |! | Special to allow periodically adjust the value |! | of assets and liabilities at market prices. Eastern |! | value will be included in a transitory account of the |! | heritage, called "Monetary tightening", which should |! | be distributed proportionally among the accounts of the |! | heritage, the first working day following the closing of the |! | accounting period in which the adjustment occurred. "."
27 replaced item 31 ° with the following: "article 31.-the general meeting of partners may |! |" authorize the issuance of publicly offered securities of |! | According to the provisions of law No 18,045, above |! | Securities. "."
28 repealed article 32.
29 Article 33 be repealed.
"30 replaced the word in article 34 |! |" actions"by"participation fees".
31 replaced the article 35th by the following: ' article 35.-can be accepted by the Council of |! | " the cooperative reduction or partial removal of the |! | contributions made by the partners, unless they lose the |! | quality of such and in accordance with the rules as to the |! | effect to establish the statutes. "."
32 replaced the article 36º, by the following: ' article 36.-the positive balance of exercise |! | " economic, that is referred to as remnants, it will go to |! | absorb accumulated losses, if any. Fact |! | the foregoing, will be allocated to the Constitution and increase |! | of reserve funds, in the event that these are |! | mandatory, or to the Constitution and increase of |! | reservations to the payment of interest on capital, and voluntary |! | in accordance with the Statute. Finally, the balance, Yes |! | There is one, identified as surplus and will be distributed in |! | money partners or will result in an emission |! | freed from participation fees.
Operations from surpluses of the |! | cooperative with partners, will be distributed pro-rata |! | of these. Those from operations with |! | third, will be distributed in proportion to the shares of |! | participation.
Open housing cooperatives and the de |! | credit unions should establish and increase each |! | year a Fund of legal reserve, with a percentage not |! | less than 20% of its remnants. When the background of |! | legal reserve reaches 50% of the heritage, these |! | entities will be required to distribute among the |! | partners, by way of surplus, at least 30% of the |! | remaining. The balance will increase the Fund's |! | reserve legal or intended to voluntary reserves.
Other cooperatives will form reserves |! | voluntary, but they may not exceed 15% of the |! | heritage. "."
33. Insert, after article 36 |! | the following 36 bis, new article: "article 36 bis.-open cooperatives de |! |" housing and the credit unions must have |! | invested at least 10% of their assets in |! | assets and instruments of easy settlement than |! | determine the rules of procedure.
This percentage may be increased using standard |! | by the Agency inspector general application. "."
34 replaced item # 37, by the following: ' article 37.-in the event of liquidation of the |! | " cooperative, once absorbed losses, |! | paid debts and refunded to each partner the value |! | updated their quota of participation, reservations |! | legal and any other consequential surpluses, are |! | will be distributed among the partners, in proportion to their quotas |! | of participation.
The portion of the heritage that has originated in |! | donations received by the cooperative, except in the |! | case referred to in article 108, should be used to the |! | object pointing to the statutes. In the absence of mention of |! | expressed, will be up to the Secretary of economy, |! | Building and reconstruction using them in favor of one or |! | most of the institutions governed by this Act. "."
35 repealed article 40.
36. replace article 41st by the following: "article 41.-the General meetings, each partner |! |" you will be entitled to one vote, both in regards to |! | the election of persons, in relation to the |! | propositions that are formulated.
Authorities to assist with the right to speak and vote at |! | them, must be granted by Charter to as |! | point to the regulation.
The members of the Council may not be proxy |! | management, the Board of vigilance, the Manager |! | and the workers of the cooperatives.
Parents should be partners of the |! | cooperative, except in the case of the spouse or children of the |! | partner, or managers or workers, in |! | which case the power of attorney granted be authorized |! | before a notary.
No partner may represent more than 5% of |! | Members present or represented at a meeting |! | General.
The statutes of a cooperative may provide |! | whatever personal assistance to the Board and not be |! | in any case, accept mandate to assist them.
Notwithstanding the provisions in the preceding subparagraphs, |! | When thus establish it bylaws, meetings |! | First-degree Union generals may |! | (constituir_se por delegados, en los siguientes casos: a) when the cooperative acts through de |! | establishments located in different places of the |! | (territorio nacional, y b) when the cooperative has more than two thousand |! | partners.
The delegates will be chosen before the Board |! | Partners-general and will remain in their posts the time |! | that is designated in the statutes, not being able in case |! | some extend the period beyond one year.
To be delegated is required to be a member of the |! | cooperative. The delegates shall be eligible for re-election |! | indefinitely. "."
37 insert the following article 41 bis: "article 41 bis.-are matters of General meeting of |! |" (Socios: a) consideration of the situation of the cooperative and the |! | reports of the boards of Auditors and surveillance |! | external and approval or rejection of the memory, of the |! | balance, States and financial demonstrations |! | submitted by administrators or liquidators of the |! | cooperative.
(b) the distribution of the surplus or remnant |! | of each financial year.
(c) the election or revocation of the members of the |! | Board of Directors, of the liquidators and the |! | Board of supervision.
(d) the dissolution of the cooperative.
(e) the transformation, merger or division of the |! | cooperative.
(f) the reform of its statutes.
(g) the disposal of 50% or more of its assets, is |! | to include or not its liabilities; as also the formulation |! | or modification of any business plan |! | gaze at the disposal of assets amounting to |! | exceed the above percentage. For these effects is |! | presumed that they are the same operation of |! | alienation, which is perfected by means of |! | one or more acts relating to any social good, |! | during any period of 12 consecutive months.
(h) the granting of guarantees real or personal |! | for bailing obligations of third parties, unless |! | These are subsidiary entities, in which case the |! | approval of the Board of directors be |! | enough. They are those subsidiaries entities |! | organizations with a cooperative controlling |! | directly, or through another natural person or |! | legal, more than 50% of its capital.
i) the approval of contributions of goods not |! | consisting of money and estimate of its value.
(j) the change of domicile to a region |! | different.
(k) the amendment of the corporate purpose.
(l) the modification of the form of integration of |! | the bodies of the cooperative and its powers.
(m) the increase of the share capital, where |! | compulsory members converge to its |! | subscription and payment of the respective capital shares.
(n) the acquisition by cooperatives of |! | the quality of members of partnerships and partner |! | Manager of societies in limited partnerships and the celebration of |! | any contract that generates the responsibility by |! | obligations to third parties, unless they are a |! | subsidiary entity of the cooperative.
(n) the fixing of remuneration, participation or |! | allowances in money or species that correspond, in |! | reason of their positions, the members of the Council of |! | Administration, Board of surveillance or any other |! | Committee members established in the statutes.
(o) other materials that by law or by the |! | statutes applicable to their knowledge or the |! | competence of the General meetings of partners and, |! | General, any matter that may be of social interest.
They will require the agreement of two-thirds of the |! | Members present or represented at the general meeting |! | respective agreements concerning matters of the |! | (((((((((letras d), e), g), h), i), j), k), l), m), and n), |! | those who should be treated only in general meetings |! | especially mentioned for this purpose.
Agreements concerning other materials of |! | knowledge of the general meeting shall be adopted by the |! | a simple majority of members present or represented |! | in it.
Citation Board shall be made by means of a |! | notice of summons, which will be published in advance |! | no more than 15 days nor less than 5 days from the date in |! | the meeting, held at a newspaper |! | in the area in which the cooperative has operations, or |! | well, in a newspaper of national circulation. You should |! | also sent a summons by mail to each partner, |! | to the address it is registered in the cooperative, |! | with a minimum notice of 15 days from the date of |! | annual meeting, which must contain a |! | reference to the matters to be dealt with in it and the |! | other terms that designate the regulation.
38 replaced the article 42 °, by the following: ' article 42.-the Board of Directors, which |! | " shall be elected by the general meeting of partners, has to his |! | charge senior business management |! | social and represents judicial and out-of-court to the |! | cooperative for the fulfillment of the purpose, without |! | prejudice to the representation that is up to the Manager, |! | According to the provisions of article 45 of this |! | law.
The statutes may contemplate the existence of |! | alternate directors.
Cooperatives may provide in its bylaws |! | clauses which confer legal persons of |! | public or private law who participate in them the |! | right to designate a certain number of members of the |! | Board of Directors, but in any case this |! | privilege is limited to a minority of them.
Cooperatives may provide in its bylaws |! | the participation of employees in the Council of |! | Administration. Labour advisers shall enjoy of the |! | jurisdiction laid down in article 174 of the code of the |! | Work, from the date of your choice and up to 6 months |! | After having ceased in office, whenever the |! | cessation in it has not occurred by censorship of the |! | Assembly of the workers, by sanction applied by |! | the competent court in whose virtue need to |! | abandonment, or by the end of the company.
At least 60% of the titular members and |! | alternate members of the Board of Directors shall be |! | selected by members of cooperative users.
The Board of Directors, subject to the |! | rules pointing rules and statutes |! | social, may delegate part of its powers in the |! | Manager or one or more directors or officers of the |! | cooperative and may, in addition, delegate them to others |! | people for especially certain purposes. "."
39. replace article 43rd, by the following: ' article 43.-advisors, managers, the |! | " administrators members referred to in subsection |! | first the article 68 ° bis and the members of the Committee |! | Organizer and the liquidation Committee or the |! | liquidator, as the case may be, will respond to guilt |! | slight in the exercise of its functions, and shall be |! | jointly and severally responsible for the damages that cause |! | the cooperative for their intentional or negligent actions.
The approval granted by the general meeting to the |! | memory and balance that those present, or any |! | account or general information does not relieve them of the |! | responsibility that corresponds to them by acts or business |! | certain; or the specific consent of the |! | exempt from this responsibility, when they have |! | held with negligence or willful misconduct.
The deliberations and agreements of the Council of |! | Administration is transcribed in an book of records by |! | a suitable environment that offers security that cannot |! | have insertions, deletions or any other |! | adulteration which may affect the loyalty of the Act, |! | that will be signed by the directors who had |! | attended the session.
If one of them dies or is impossible by |! | any reason to sign the corresponding Act, be |! | It shall recorded therein of the respective |! | circumstance or impediment.
The minutes shall be approved from the moment of |! | his signature, in accordance with what was expressed in subparagraphs |! | previous and since that date may lead to effect |! | the agreements to which it refers.
The Advisor that you want to save your responsibility |! | staff must be recorded in the minutes its view and if |! | It is unable to do so will make a statement |! | in writing to the Department of cooperatives, inside |! | of within 10 days of held the session or respective |! | date in which impossibility has ceased.
The Minister deemed that an act is of |! | inaccuracies or omissions, have the right stamp, |! | before signing it, the corresponding qualifications. "."
40 replaced the article 44th, by the following: ' article 44.-presumed responsibility of |! | " persons referred to in article 43, according to |! | appropriate, in the following cases: 1. If the cooperative not being his books or |! | records;
2. If surpluses are when this not |! | applicable;
3. If the cooperative conceals assets, |! | It finds supposed debts or simulare disposals, and 4. If the cooperative not compliance to their |! | obligations, regulations and bylaws, and a |! | instructions for agencies supervising |! | relevant. "."
(41.-En el artículo 45º: a) deleted in paragraph first subsection |! | First, the word "employee".
(b) Suprimense second subparagraphs, third and |! | room.
42. replace article 46th by the following: "article 46.-the General meeting will appoint a Board |! |" surveillance which will be composed of up to 5 members, |! | be able to choose 2 of them outsiders to the |! | cooperative, which meet the requirements set |! | the rules of procedure. The Board shall examine the |! | accounting, inventory, balance sheet and other States |! | financial and other terms of reference established |! | in the statutes and in the rules of procedure.
Not can the Monitoring Board to intervene in the |! | acts of the Board of Directors and the Manager. The |! | Monitoring Board, with the permission of the Board |! | General, may carry out all or part of its |! | functions through a Confederation, Federation or |! | auxiliary Institute of cooperatives available from |! | services of audit or a private firm of |! | Auditors.
In the event that the majority of the members of the |! | Monitoring Board determines that the cooperative has |! | acted in contravention of the provisions of this law, of its |! | regulations or statutes, it shall require the |! | celebration in one period not exceeding 15 days, counted |! | from the date of the agreement, a general meeting of |! | partners, which shall be informed of this situation. Board |! | Members shall be held within the period of 30 days, |! | counted since exacted its celebration. "."
43 replaced the article 47 °, by the following: "article 47.-for all legal purposes be |! |" It estimated that the institutions governed by the present |! | law do not obtain utilities, except for the effects of thing |! | provisions of articles 46 to 52 of the code of the |! | Work. "."
44 replaced article 48th by the following: ' article 48.-the cooperative shall keep in |! | " main and its branches headquarters and |! | establishments, available to members and |! | third parties, updated copies of its statute |! | signed by the Manager, with indication of date and |! | notary that was awarded the social writing and of its |! | modifications, if any, and details pertaining to |! | its legalization.
Each cooperative should be a public register |! | indicative of its directors, President, Vice - |! | President, Secretary, managers, or liquidators in your |! | case and attorneys, with specification of dates of |! | initiation and term of their functions. The designations |! | and annotations contained in this registry will make full |! | faith against the cooperative, is in favor of the |! | partners or third parties.
Counselors, administrators, Manager or |! | liquidators in your case, will be jointly and severally liable |! | responsible for the damages that cause partners and |! | third parties because of the lack of loyalty or validity of |! | the documents referred to in the preceding paragraph. Thing |! | foregoing is without prejudice to the sanctions |! | administrative that may also apply the body |! | Inspector respective subject cooperatives to |! | its control. "."

45 repeal of article 49.
46 replaced the article 50 th, by the following: "(Artículo 50º.-Las cooperativas se disuelven: a) by the expiration of the term, if thing |! |" any.
(b) by agreement of the shareholders.
(c) for other reasons covered in the |! | statutes.
Also dissolved by court judgement |! | rendered dictated according to the procedure |! | provisions of chapter V of this law to |! | application of the partners, of the Department of |! | Cooperatives of the Ministry of the economy or the body |! | Inspector respective, based on any of the |! | (siguientes causales: 1) repeated breach of the rules which fix |! | or instructions that impart the Department of |! | Cooperatives or the respective supervisory body;
(2) serious contravention or failure to comply with the law or |! | the articles of Association, and 3) others that contemplates the law. "."
47. replace article 51 ° by the following: ' article 51.-when the dissolution occurs |! | " (por alguna de las causales contempladas en las letras a) |! | (y c) of the preceding article, the Council of |! | Administration, within 30 days, |! | It shall indicate this fact by public deed, whose |! | Summary must register in the register of Commerce and |! | published in the official journal.
Once within 60 days, counting |! | the expiration of the term of duration of the entity, |! | without that it has complied with the formalities |! | set forth in the preceding paragraph, the Manager, |! | any Member, licensee or alternate, of the Council of |! | Administration, partner or third party interested may give |! | compliance with them.
Without limiting the foregoing, whatever the |! | ground for dissolution of a cooperative, this should be |! | notified to members by registered letter |! | to the address which they have registered. "."
48 insert the following article 51 bis: "article 51 bis.-two or more cooperatives may |! |" merge.
The merger involves the meeting of two or more |! | cooperatives into one that happens to them in all their |! | rights and obligations, and incorporated into which the |! | all heritage and local partners |! | fused.
There are merger by creation, when assets and liabilities |! | two or more cooperatives that dissolve, are contributed to |! | a new cooperative that constitutes.
There are merger by incorporation, when one or more |! | cooperatives that dissolves are absorbed by a |! | existing cooperative, which acquires all its |! | assets and liabilities.
In these cases, the settlement shall not be of the |! | cooperatives merged or absorbed.
In general meetings you remember fusion |! | audited balances must approve of the |! | cooperatives that are merged.
No partner, unless he consents to do so, you can |! | losing its quality, on the occasion of a merger by |! | creation or incorporation.
Shareholders approved the audited balance sheets and |! | the expert reports that applicable of the |! | cooperative object fusion and the statutes of the |! | that is created or the absorbent, in his case, the Council |! | This management should be distributed directly |! | new fees for participation among members of |! | those in the corresponding proportion.
The surplus generated by each cooperative in the |! | exercise that can perform the merger will belong to the |! | members of the co-op that occurred and is |! | will be distributed in accordance with the statutes of the |! | respective cooperative. "."
49. replace article 52 degrees, by the following: ' article 52.-the division of cooperatives and |! | " its transformation into another kind of society, should be |! | agreed in the general meeting of partners cited especially |! | with that object.
The division consists of the distribution of the |! | heritage of the Union between itself and one or more |! | unions constituting the effect, |! | corresponding to the cooperative partners |! | divided, the same proportion in each capital |! | new cooperatives than those that possessed in |! | the cooperative which is divided.
The transformation consists of the modification of |! | the statutes of a cooperative, which is the |! | subject to a legal regime applicable to other types of |! | society, surviving his legal personality.
Before the adoption of the division agreement or |! | processing, shall submit to consideration of the |! | annual partners general balance of the entity and the |! | States and financial shows that the regulation |! | determine, audited by independent professionals |! | appointed by the general meeting of partners.
No partner, unless he consents to do so, you can |! | losing its quality, on the occasion of a division or |! | transformation of the cooperative to which it belongs. "."
50 replaced article 53 degrees, by the following: "article 53.-the liquidation of a cooperative |! |" dissolved will be made by a Committee of three |! | persons elected by the general meeting of partners.
The liquidation shall be subject to rules |! | agreed the general meeting of partners and standards |! | Regulation on the subject taught and the |! | respective, applying Audit Agency thing |! | provisions of article 413 of the code of Commerce. "."
51 insert the following article 53 bis: "article 53 bis.-the dissolved cooperative |! |" exists as a legal person for the purposes of its |! | liquidation, leaving existing statutes in which |! | It may be relevant. In this case, you must add to your |! | social reason the words "in liquidation". "."
52.-in article 54: a) replaced by the letter b) the words "Decree |! |" law 619, 1974 ", by"Decree Law No. 3.475 of 1980 ".
(b) replace the second paragraph by the following: "consumer cooperatives and the service |! |" You must pay all taxes established by the |! | laws with respect to the operations carried out with |! | persons who are not partners, and must indicate in their |! | tax information necessary |! | to apply this provision. "."
(c) replacements in the final paragraph, the words "and |! |" societies' by 'e institutes'.
53 replaced the article 55 °, by the following: ' article 55.-the members of the cooperatives not |! | " they will pay the first category of law tax of |! | Income tax for the highest value of their quotas of |! | participation. "."
54 replaced the article 56th, by the following: ' article 56.-the increase of the nominal value of the |! | " capital shares and shares of savings and the return of |! | surpluses arising in operations with partners |! | They shall be exempt from all taxes. "."
55. Add the following article 58º, new: "article 58.-increased the limit to 25% |! |" voluntary discounts by form established in the |! | second paragraph of article 58 of the labour code, |! | When the additional discounts are in favor of |! | consumption or savings and credit cooperatives that |! | the worker to be a member, provided that the sum of the |! | the second concerned paragraph discounts, and the |! | housing discounts authorized by subsection |! | the same article 58 of the mentioned code first, not |! | exceed 45% of the total remuneration of the |! | worker. "."
56. Add the following article 59th, new: "article 59.-discounts in favor of |! |" cooperatives indicated in the preceding article are |! | They shall be carried out with the only merit of the authorization |! | in writing by the partner of the cooperative, which should |! | be granted for each operation, provided that no is |! | exceed the maximum limits there laid down.
The natural or legal person who effected |! | discounts shall deliver them to the cooperative |! | respective, within the first days of the month l0 |! | following the date on which have had to pay is the |! | remuneration. "."
57 repealed article 61.
58 repealed article 62.
59 repealed article 63.
60 deleted the final sentence of article 64 °, which |! | says: "This means without prejudice of thing |! |" laid down in articles 134 and 135. "."
61. in article 65:
(a) replace the phrase "the industry address |! |" and trade may order"with the following:" the |! | " Department of cooperatives or anyone can |! | request to the appropriate Local police court to the |! | address of the offender, that order".
(b) delete the final phrase "for which purpose |! |" It will have the help of the security forces", |! | replacing the comma (,) that precedes it, by a point |! | (.) final.
62. replace article 66 ° by the following: ' article 66.-persons who commit or are |! | " find in established disabilities for the |! | Directors of corporations in articles 35 and |! | 36 of law No. 18,046, on what you are applicable, |! | may not serve as advisors, liquidators, |! | inspectors of accounts, members of committees of vigilance |! | or managers of co-operatives. "." 63-replaced the article 67 ° by the following: ' article 67.-directors, managers, |! | " liquidators, inspectors of accounts, members of the |! | Board of supervision of the liquidation Commission and the |! | Organizing Committee and the members of the cooperatives with |! | which the Manager must exercise their powers in |! | merit provisions of article 68 bis, which |! | engage in violations of laws, rules, to |! | the statutes and other rules that apply to the |! | cooperatives, or failure to follow the instructions |! | that it provided them the Department of cooperatives, can |! | be subject to the implementation by the latter of a fine to |! | profit tax, which must be accomplished |! | jointly and severally by the infringers, up to an amount |! | equivalent to 25-unit cooperative global |! | tax monthly. Case of infringements |! | several of the same nature, the fine may be |! | reach up to an amount equivalent to 50 units |! | tax monthly, without prejudice to those established |! | in other laws and its dissolution by application of thing |! | derogation from the second paragraph of article 50th this |! | law, in his case. "."
64 insert the following article 67 bis: "article 67 bis.-resolutions of the |! |" Department of cooperatives that apply fines will have |! | merit Executive once the expired for |! | challenge them or is sign the judgment than |! | reject the claim resource. The collection of the |! | fines will be up to the General Treasury of the |! | Republic. "."
65. replace article 68th by the following: "article 68.-Son cooperative work which |! |" they are intended to produce or transform property or |! | providing services to third parties, through labour |! | Joint partners and whose remuneration must |! | fix according to the work carried out by everyone.
The contributions of the partners individuals |! | must necessarily consist of work which are |! | force to be carried out, without prejudice to the contributions that |! | make money, movable or immovable property.
Labor cooperatives must have a minimum |! | five partners. "."
66. in article 68 ° bis, removed its subsection |! | the second and the third be replaced by the following: "cooperatives referred to in the preceding subparagraph |! |" Neither will be required to appoint a Board of |! | Surveillance, in which case it shall designate an inspector |! | account holder and an alternate, who will have the |! | powers conferred by this Act and its regulations to the |! | Monitoring Board. "."
67 repealed article 69.
68 repealed article 70.
69 repeal of article 71.
70 repealed article 72.
71 repealed article 73.
72 repealed article 74.
73 replaced article 75 th, by the following: ' article 75.-the worker-members will not have |! | " right to receive remuneration, without prejudice that |! | they can receive a sum equivalent to a minimum income |! | monthly if they work during the regular day of |! | work or the corresponding proportion if |! | contrary. Such sums shall be considered expenses of the |! | exercise that have been accrued and partners not |! | they will be required to return them under any circumstances.
The surplus will be distributed among the partners in |! | proportion to the work done by each of them, |! | According to the General rules established by the respective |! | Statute. Partners can make early withdrawals |! | during the year in respect to the surplus of the |! | same. The maximum amount of such withdrawals shall be |! | determined by the Board of Directors. These |! | withdrawals may not be greater than the sum of the |! | surplus accrued in the course of the exercise, over the |! | balances not distributed in previous years.
The amounts withdrawn in excess shall be covered |! | by partners, without prejudice to the responsibility of |! | the members of the Council have adopted the |! | Agreement and the manager that has not manifested |! | his opinion to the contrary.
The Department of cooperatives will be entitled |! | dictate norms governing the treatment of the |! | advances in excess, in the event that these not |! | they are reinstated in the financial year following that in |! | that was paid. "."
74 repealed article 76.
75 replaced article 77 degrees, by the following: ' article 77.-admission, withdrawal or exclusion of |! | " partners, the mutual benefits that have place and, |! | in general, the relations between the partners and the |! | labour cooperatives, are not governed by rules |! | the labour code but by those contained in this |! | law, the Statute, the rules of procedure of the |! | cooperative and the regulation of this law.
However, it shall apply to partners people |! | natural and cooperatives, as appropriate, the |! | articles 14, 15, 17 and 158, and the titles I, II and III |! | Book II of the labour code.
Statutes shall regulate the form of |! | determine the nature of the services that should be |! | provide members natural persons, the place or city |! | in that have been provided, the duration and distribution of |! | the work day, work hours |! | extraordinary, resting during the day, the |! | weekly rest, the annual holiday, and benefits to |! | that the Member who withdraws or is excluded is entitled.
The disputes which arise in connection with the |! | matters dealt with in this article and the benefits to |! | that dieren place, knowledge of the courts shall |! | letters of the address of the cooperative work, |! | in accordance with the procedure laid down in chapter II |! | of title I of book V of the labour code. "."
76 repealed article 78.
77 article 79 repeal of.
(78.-En el artículo 80º: a) Insert, after the words "law of", |! | the words "tax to".
(b) replace the second paragraph by the following: "only for social security purposes, the cooperatives |! |" work will be considered employers and partners |! | dependent workers working therein of the |! | same, those accessing the benefits which the |! | legislation sets for these, such as the subsidy |! | by family responsibilities and accident insurance of the |! | work and occupational diseases. "."
(c) add the following third paragraph: "as such, the cooperative shall retention |! |" checksums corresponding deducted by impositions |! | social security and know them to the institution |! | pension respective, together with those |! | social security contributions that correspond to their status of |! | employer. Only the amounts actually received by |! | partners with charge to the surplus, in accordance to the |! | rules of procedure, they shall be considered remuneration |! | for these purposes. Surpluses which are |! | capitalized by the partners will not be affected to the |! | pension savers. "."
79 replaced article 81 degrees, by the following: ' article 81.-Son cooperative agricultural and |! | " peasants who engage in buying and selling, |! | distribution, production and processing of goods, |! | products and services related to the activity |! | silvoagropecuaria and agribusiness, to |! | to ensure best performance of it and acting |! | preferably in a rural environment and tended to the |! | social, economic and cultural development of its members. "."
80 replaced the article 82 °, by the following: ' article 82.-Son cooperative fishing those |! | " engaged in the production, purchase, sale, |! | distribution, transformation of goods, products and |! | services related to the exploitation of products |! | Sea and activities that pursue improvement |! | the living conditions of those who play them.
Fishing cooperatives formed by fishermen |! | artisan, will have access to all the benefits that |! | designates the General Law of fisheries and aquaculture, to the |! | artisanal fishermen's organizations legally |! | constituted. "."
81 repealed article 83.
82 repealed article 84.
83 repealed article 85.
84 repealed article 86.
85 repealed article 87.
86. replace article 88 °, by the following: ' article 88.-can only belong to the |! | " the smallholder peasant cooperatives |! | agricultural and farmers as defined in article 13 |! | Law No. 18.910. They may also be partners of these |! | cooperative persons of public law and |! | private law which does not pursue profit and the |! | natural or legal persons that are proprietary, |! | usufructuarias, tenant or holding to any |! | title of the premises in which such cooperatives |! | develop their activities.
87 repealed article 89.
88 repealed article 90.
89 repealed article 91.
90. replace article 92 °, by the following: ' article 92.-Son cooperative service the |! | " that relate to distribute goods and |! | provide services of any kind, preferably a |! | its partners, with the purpose of improving their conditions |! | environmental and economic and your needs |! | family, social, occupational, or cultural.
Without being exhaustive, the following enumeration the |! | cooperatives of this class may have the character of |! | school, supply and distribution of energy |! | electricity and drinking water, housing, de |! | provisioning, credit unions and also of |! | benefit for the household activities and the |! | community. "."
91 insert, after article 92, the |! | Next, new subtitle: "Of the cooperative school".
92 replaced the first part of the subsection |! | first of article 93, to the followed period (.), |! | by the following: "article 93.-which are school cooperatives |! |" education establishments constitute |! | Basic, average, special or superior to |! | promote the improvement of the schools in which |! | Merge and the community in which they operate. "."
"(93.-En el artículo 94º: a) replace, in the first paragraph, the expression |! |" Members"by"educational community".
(b) delete the second paragraph.
(c) replacements in the final paragraph the words "a |! |" sales and services"by"to the added value".
94 insert, after Article 95, the |! | Next, new subtitle: "2) cooperative supply and |! |" Distribution of electric power and drinking water".
95 replaced the article 96 degrees, by the following: ' article 96.-Son cooperative supplying |! | " and distribution of electric power cooperatives de |! | Service constituting in order to distribute |! | electric power.
As for turning operations, applies to |! | These cooperatives norms of the decree with force of |! | Law No. 1, the Ministry of mining, 1982, without |! | subject to the following provisions.
Non-concessional service cooperatives |! | public distribution can be distributed energy |! | power partners even in concession areas to |! | other companies, provided that those partners have |! | entered to the Credit Union prior to the |! | granting of the concession.
Cooperatives concerned may use goods |! | national public use for the laying of lines |! | aerial and ground intended for the distribution of |! | electricity, after obtaining permissions |! | corresponding.
Public service concessionaires cooperatives |! | distribution may require its partners and the |! | users who request service, a contribution of |! | refundable financing for the expansion of the |! | existing installations to the point of junction of the |! | petitioner, for the extension of underground lines or |! | for extension of power.
The financial contributions will be reimbursed by your |! | Reset initial value and agreed interests, de |! | accordance with the provisions in this regard in the |! | Decree Law No. 1, 1982, the Ministry |! | mining.
However, if the reimbursement were made at |! | itself LCCU participation fees, this |! | You must be cleared and pay for it in money within the time |! | maximum of 5 years, counted from the partner requesting |! | in this sense, the value that such quotas had to the |! | time of the referred request.
The choice of the form of refund shall be |! | in accordance with the standards of the decree with force of |! | Law No. 1, the Ministry of mining, in 1982, but |! | the contributor may oppose it in accordance to the |! | procedure laid down in article 133 ° A of the |! | This law, if it considers that the form of refund |! | proposal does not constitute an actual refund.
Cooperatives concerned may not charge costs |! | by way of reimbursement of contributions. "."
96 replaced item 97 degrees, by the following: "article 97.-supply cooperatives |! |" and distribution of potable water shall be governed, in which |! | It may be applicable, by the provisions of laws |! | special governing this activity. "."
97 Intercalanse, after article 97, the |! | following subtitles: ' 3) (housing cooperative to) General provisions ".
98 repealed article 98.
99. replace article 99 degrees, by the following: ' article 99.-are cooperative housing |! | " those that are intended to satisfy the |! | housing and community needs of its partners |! | and to provide the services inherent in that goal.
(Habrá dos clases de cooperativas de vivienda: 1) closed housing, cooperatives are |! | (organizan para desarrollar un proyecto habitacional, y 2) the open housing cooperatives, which should |! | be unique object and can develop |! | permanent, simultaneous or successive different programs |! | housing and have national or |! | develop a regional action. "."
100 article 100, replaced by the |! | Next: "article 100.-the owners of land located in |! |" a same commune, who pursue as their goal the |! | construction, extension or termination of their homes, |! | the completion of the construction or establishment |! | community service, may constitute |! | housing service cooperatives, while retaining the |! | ownership of their lands. These entities shall be governed |! | by the rules applicable to closed cooperatives de |! | housing. "."
101 article 101, replaced by the |! | Next: "article 101.-the sale of quotas of |! |" participation of the housing cooperatives should be |! | previously approved by the Board of Directors, |! | and must be made through private instrument |! | authorized notary, which must include the |! | date of the meeting of the Council that approved it.
The governing body may reject the |! | alienation in the cases provided for in the statutes.
The 1796 article of the Civil Code shall not apply to the |! | purchase and sale of shares of participation between spouses. |!| However, the disposition shall be unenforceable to the |! | creditors of the assignor who have previous credits |! | transfer. "."
102 article 102, replaced by the |! | Next: "article 102.-the Board of Directors of |! |" cooperatives in housing, at the request of any |! | interested partner, will awarded you in domain housing |! | built that have assigned in use and enjoyment or that le |! | appropriate, once it has met with the |! | residential requirements and that the partner has |! | tolerated their outstanding obligations with the |! | cooperative, if any.
However, cooperatives may retain the |! | ownership of their homes when the creditor |! | mortgage that it granted loans to build them |! | required by, what shall be expressly recorded in |! | the respective mutual deed. The prohibition of |! | allocate dwellings shall be registered in the |! | Register of prohibitions of the conservative of property |! | Respective estate. Once paid the mortgage mutual |! | Members will have the right established in subsection |! | first. "."
103 repealed article 103.
104 article 104, replaced by the |! | Next: "article 104.-payable liabilities of the |! |" with more than 1,000 partners housing cooperatives and whose |! | Heritage joined partners savings exceed the |! | 100,000 units of building, may not exceed a |! | three times the sum of these over the value of the |! | housing subsidies obtained by or for its |! | partners. "."
105 article 105, replaced by the |! | Next: "article 105.-once assigned in use and |! |" enjoy housing partners, if your building or the |! | execution of infrastructure works, been |! | financed with a mortgage mutual, shall divide the |! | loan and the mortgage between the various |! | properties assigned to each partner, which will respond by |! | the fee to that property. For these |! | effects, the Board of Directors of the cooperative |! | It will legally represent its members.
Members will be paid directly to the creditor |! | mortgage their dividends unless you had previously informed |! | Another thing.
In case of delay in payment of the dividend and |! | provided that such delay exceeds 60 days, may the |! | creditor pursuing legally the responsibility of the |! | partner. The mortgage may only be |! | effective on the property assigned to the respective partner, |! | Although not the final acceptance has been granted |! | urbanization. "."
106 repealed article 106.
107 article 107, replaced by the |! | Next: "article 107.-partners who has been |! |" assigned housing, shall be entitled to the use and enjoyment |! | staff of the same or to its lease in cases |! | qualified, in accordance with the conditions as |! | establish the statutes and the rules of procedure.
The assigns or their heirs with his |! | pecuniary obligations to date with regard to the |! | cooperatives, which are in use and enjoyment of a housing and |! | Let have the quality of partners, will not lose their |! | the same rights. "."
Insert after article 107 108 the |! | following subtitle: "b) closed housing cooperatives".
Replaced article 108, 109 by the |! | Next:
"Article 108.-the land acquired by the |! |" free of charge housing cooperatives, are |! | consider part of their capital for the purposes of the |! | Award of housing partners. "."
110 article 109, replaced by the |! | Next: "article 109.-for the acquisition to title |! |" consideration of land by a housing cooperative is |! | There must be a favourable technical report |! | to the feasibility of the subdivision and urbanization, of the |! | construction management or the unit exercised its functions, |! | the municipality corresponding to the location of the |! | property.
The report must be issued within the time of |! | 60 days, counted from the filing date of the |! | request with certificates that are necessary.
The Ministry of housing and urbanism can |! | authorize the institutes to which the article refers |! | 125 °, issued the technical report referred to above, |! | provided that span to the rules as the aforementioned |! | Ministry provided them.
The Act or contract that is concluded without the report |! | technical Pro within the meaning of this article |! | It accepted relative nullity.
Notaries shall not authorize writings or the |! | Conservatives will proceed to sign them if not inserted |! | in them the report. ". '
Replaced article 110, 111 by the |! | Next: "article 110.-closed cooperatives de |! |" housing are not dissolved or liquidated by the fact of |! | assigned in domain to its partners all of |! | the houses they built, if its object |! | includes equipment and community development. "."
112 added after article 110, the |! | following subtitle: "c) open housing cooperatives".
Replaced article 111, 113 by the |! | Next: "article 111.-the heritage of cooperatives |! |" Open housing may not be inferior to the |! | equivalent to 7,000 units of development and will have a |! | number of, at least 300 members.
These cooperatives can only finance expenses |! | management committees referred to in the |! | statutes and in the rules of procedure. May also finance |! | other ordinary and extraordinary expenses with the |! | economic resources and additional commissions than the |! | partners contribute in the way that contemplate the regulation.
Commissions from surplus |! | increase the assets of the cooperative, |! | joining the reserve fund legal if this not be |! | It has been completed.
Members shall be informed timely and |! | in detail about the fate of their commissions and |! | extraordinary contributions.
The respective supervisory body should dictate |! | the necessary administrative and accounting rules for |! | applying the preceding provisions. In addition, |! | establish the procedure of delivery of information to |! | partners with respect to the operation of assemblies |! | of programs, procedures for agreeing the subdivision and |! | construction and financing for the acquisition of |! | housing and with regard to contributions, exemptions |! | tax that will benefit members or the |! | cooperative and other subjects deemed |! | necessary, in accordance with the rules of procedure.
In any case, should post separately |! | operations, acts and transactions of each of |! | the housing programs, with the aim of |! | determine, for each of them, their |! | respective rights, obligations and outcomes, without |! | prejudice to the consolidated and demonstrations |! | financial necessary for internal use and the |! | compliance with the legal provisions, |! | regulations and requirements of the organisms |! | audit. Direct costs and all those |! | specifically associated with each housing program |! | They shall be financed by incorporated members to |! | the same.
In the event that a cooperative open housing |! | it forfeits its reserve funds, for whatever reason, |! | It must not accept the entry of new |! | partners, unless these are directly incorporated to |! | some housing development programme or agency |! | inspector authorized by them. This may only authorize them |! | When approve it a plan of action to ensure the |! | financial stability of the entity within a time |! | certain. "."
114 Add the following article 111 bis, |! | New: "article 111 bis.-open cooperatives de |! |" housing should form an Assembly by each program |! | housing, to which belong members people |! | incorporated into the same natural, and must likewise |! | become an Assembly with all partners |! | ahorrantes natural persons not enrolled in |! | No program. In the case that ahorrantes partners |! | have their residence in different regions of the country, |! | You can form more than one Assembly, according to thing |! | establish the statutes, regulations or determined by |! | the annual general meeting.
Each housing program must have a number |! | limited partners and will last until it performs a |! | complete settlement of the same, once transferred the |! | the housing domain members. However, the |! | partners may continue with the housing program and |! | the respective Assembly after the liquidation, when |! | they have thus decided to merge to it.
Whenever you cite to a general meeting of partners, |! | It must be convened, with at least 30 days of |! | prior to the assemblies referred to in subsection |! | first to treat the matters to be considered |! | in the Board and proceed to the elections that |! | correspond.
Each Assembly shall elect a Council, whose |! | composition and duties shall be fixed in the statutes.
The general meeting of members of these cooperatives, are |! | It will be with the directors of each Assembly, whom |! | they will act as delegates and will represent to their |! | respective assemblies, depending on the number of partners |! | enrolled in it.
The open character housing cooperatives |! | national may provide in its bylaws assemblies |! | regional, to which the directors must attend |! | program. Without prejudice to the powers that les |! | confer the statutes and regulations, les |! | shall choose a regional Council, whose members |! | in exercise will represent registered members in the |! | assemblies of the respective region, according to thing |! | previously designated.
In any case, the adoption of agreements relating to |! | ((((las materias señaladas en las letras d), e), f), g), h) |! | (e i) of article 41 bis should be on board |! | general partners, convened and constituted according to |! | the General rules, which do not govern with regard to |! | members of assemblies of programmes or regional the |! | limitation established in the fifth paragraph of the article |! | 41 º concerning the voting power.
The alienation of real estate destined for |! | According to the respective level, to be used in common by |! | an Assembly of programme, such as areas of |! | leisure, recreation, meeting or cultural development |! | members of the housing program that was |! | concerned, as well as the creation of rights in rem |! | other than the domain, may only be carried out by the |! | Board of Directors, with the agreement of the respective |! | Assembly.
The open housing cooperatives that have a |! | maximum of 300 members and those that have a single program |! | housing, their general meetings may be held with |! | the assistance of its partners, in accordance with the standards |! | General. "."
115 be inserted after article 111 ° bis, the |! | Next, new subtitle: "4) cooperative credit unions".
Replaced article 112, 116 by the |! | Next: "article 112.-called cooperative de |! |" savings and credit cooperatives in service having |! | by object unique and exclusive services of |! | financial intermediation for the benefit of its members, de |! | accordance with the following provisions: savings and credit cooperatives may be |! | (perform the following operations: to) receive deposits of partners and third parties;
b) issue bonds and other securities for public offering;
(c) loans with financial institutions collapse |! | domestic or foreign;
(d) acquire, retain, and dispose of debt bonds |! | internal and any other kind of issued documents |! | in series of obligations of the State or |! | its institutions;
e) make loans to its members and, in general, |! | celebrate with them money credit operations, with |! | or without warranty, resettable and non-resettable;
f) discount to its partners, bills of Exchange, |! | promissory notes and other documents that represent obligations |! | payment;
(g) make loans to its partners, which are |! | are covered by mortgage;
(h) to issue letters, payment orders, and turns against |! | their own offices or correspondents;
i) prior authorization of the Superintendency of |! | Banks and financial institutions, granting to its |! | partners, loans in national currency by using the |! | issuance of letters of credit, in accordance with thing |! | in Title XIII of the decree with force of |! | Law No. 3 of 1997, which contains the revised text and |! | systematic of the General banking law;
(j) acquire, assign and transfer effects of |! | trade;
k) carry out collections, payments and transfers of |! | funds;
(l) acquire, maintain, build and sell the |! | real estate necessary for its operation. You can |! | give leases the portion of real estate to not be |! | are using;
(m) acquire, retain, and dispose of property |! | body needed furniture for your service or to the |! | maintenance of their investments;
(n) to issue and operate credit cards, for its |! | partners;
(o) prior authorization from the supervisory body |! | respective and fulfilling the General requirements that |! | She set for the specific object, may be |! | shareholders or have participation in a society or |! | cooperative support for the giro, in accordance to paragraph |! | 2, title IX of the decree with force of law Nº 3, de |! | 1997, containing the consolidated and systematized text of |! | the General banking law;
p) give its clients financial services by |! | third parties, in the form and conditions |! | (determine el órgano fiscalizador respectivo, y q) other operations authorized by the Central Bank |! | of Chile, in accordance with its powers. Operations |! | before mentioned can only be executed under the |! | conditions, requirements and modalities to establish the |! | Banco Central de Chile, in accordance with its powers.
For the realization of the established operations |! | ((((en las letras b), h), i), k) and n), cooperatives of |! | credit unions must have a paid heritage |! | equal to or exceeding 400,000 units of building and |! | be under the control of the |! | Superintendency of banks and institutions |! | Financial. "."
117 Add the following article 112 bis: "article 112 bis.-unions and |! |" credit whose heritage exceed 400,000 units of |! | building, shall be subject to the supervision and control |! | the Superintendency of banks and institutions |! | Financial, respect the economic transactions than |! | carried out in accordance with its object.
Such cooperatives must have with the |! | facilities, human resources, technology, |! | procedures and controls necessary to develop |! | adequately its functions and operations; its heritage |! | not be less than 10% of its assets weighted |! | risk, not less than 5% of its total assets and, |! | What is compatible with their nature, will be |! | subject to the provisions of the General banking law, |! | the consolidated and systematized text is contained in |! | the decree with force of law No. 3 of 1997. Especially |! | apply them the rules of titles I and XV, with |! | exclusion of their articles 123, fifth subparagraph, and 132, |! | second paragraph, and its administrators must comply |! | (los requisitos de integridad contemplados en la letra b) |! | Article 28 of the aforementioned law.
The rest of the savings and credit cooperatives |! | You must submit to the rules on accounting, |! | auditing, advertising and control that determines the |! | Department of cooperatives, in accordance to their |! | faculties. "."
118 delete the final sentence of article 113, |! | He says: "be partners of these minors |! |" adults. "."
Replaced article 114, 119 by the |! | Next: "article 114.-its heritage may not |! |" less than 1,000 units of building. "."
Replaced article 115, 120 by the |! | Next: "article 115.-unions and |! |" credit, as well as the organs of administration |! | indicates article 38, they must have a Committee of |! | credit, whose members shall be appointed by the Council |! | management.
These cooperatives will be required to fix its |! | general policy of credits in an internal regulation, |! | that must be approved by the Council of |! | Administration, without prejudice to the rules e |! | instructions that provided you the supervisory body |! | respective. "."
121 repealed article 116.
122 repealed article 117.
123 article 118, replaced by the |! | Next: "article 118.-Son cooperative of consumption the |! |" which are intended to provide partners and their |! | family items and goods for personal use or |! | home, in order to improve their conditions |! | economic.
Consumer cooperatives should become with |! | 100 members, at least. "."
124 repealed article 119.
125 removed subsection first item |! | 120 °, passing the current subsection second to be subsection |! | unique. "."
"126. replace, in article 121, the figure |! |" 6 ""118".
"127 replaced the name of chapter III |! |" The confederations, unions, federations and |! | Auxiliary societies", by" the confederations, |! | " Federations and auxiliary institutions".
128. in article 122: 1. Replaced first subparagraph by the following: "the federations of cooperatives will be |! |" consisting of three or more cooperative, the |! | confederations by three or more federations and the |! | auxiliary institutes by seven or more legal entities |! | public law, cooperatives or others |! | legal private law which does not pursue de |! | profit. "."
"(2. a) replace in the second paragraph the term |! |" unions"by"confederations".
(b) insert in the second paragraph, after the |! | words "public or", the terms "right" and |! | delete the phrase "in accordance with its object".
129 article 123, replaced by the |! | Next: "article 123.-federations, confederations |! |" e auxiliary institutes, will be considered as |! | cooperatives for all legal purposes and |! | regulatory. "."
Replaced article 124, 130 by the |! | Next: "article 124-federations and |! |" confederations shall them be ensure by the |! | interests and complement and facilitate the fulfillment of |! | the objectives of cooperatives, cooperating with its |! | work and doing any production activity |! | of goods or provision of services is indicated in |! | its statutes, in that order. "."
131 article 125, replaced by the |! | Next: "article 125.-are those auxiliary institutes |! |" aimed at providing consulting services, |! | Educational, technical, economic, operational, de |! | Audit and administrative preferably to the |! | cooperatives, confederations, federations and groups |! | precooperativos and other auxiliary institutes, |! | and can also participate in the Organization of |! | industries and service of any nature, in |! | benefit of cooperatives and members of these.
Each financial year surplus will be allocated to |! | increase an irrepartible, legal reserve fund |! | during the life of the institution. "."
Replaced article 126, 132 by the |! | Next: "article 126.-the institutions concerning |! |" This chapter will perform any services |! | Audit and inspection technical, economic, |! | operational and administrative, with regard to the |! | cooperatives, in those cases in that these are thing |! | request or the supervisory agency or referees |! | who, knowing of the cases referred to in article |! | 133 ° a of chapter V of this law are the |! | entrusted.
The supervisory body or the arbitrators may |! | instruct these entities to attend to |! | inform them, to General meetings, meetings of Councils of |! | management, and in general carry out any |! | diligence or action that they consider coming to one |! | proper and prompt resolution of the dispute subject |! | to your knowledge.
For the achievement of its purposes, these |! | institutions can operate directly or create |! | entities that can participate in addition people |! | legal, that according to its statutes they do not pursue |! | nonprofit. "."
133 article 127, replaced by the |! | Next: "article 127.-the statutes of the federations, |! |" confederations and auxiliary institutes may |! | establish that the cooperative entities that are |! | members of the same will have a number of votes in the |! | General meetings that are proportional to the number of its |! | affiliates, direct or indirect, without any de |! | These entities may have more than 3 or less than a |! | vote. "."
Replaced article 128, 134 by the |! | Next: "article 128.-will be applicable to entities to |! |" that referred to this title, having ten partners or |! | However, the provisions of article 68 bis. "."
135 repealed article 129.
136 repealed article 130.
137 repealed article 131.
Replaced article 132, 138 by the |! | Next: "article 132.-the Department of cooperatives |! |" you will be responsible for promoting the cooperative sector, |! | through the promotion of programmes to the |! | development of management and entrepreneurial skills in the |! | cooperatives; to enact rules that contribute to the |! | improvement of the performance of the |! | cooperatives; keep a register of cooperatives |! | force and the supervision and control of the |! | cooperatives referred to in this chapter.
Shall also draw up statistics of the |! | sector and disseminate information that is available, |! | on the operation of cooperatives, through |! | the mechanisms for this purpose set.
It falls particularly to the Department of |! | (Cooperativas desarrollar las siguientes funciones: a) interpret administratively, through |! | resolutions of a general nature, legislation |! | special governing cooperatives, its regulations and |! | the other rules that apply to them, and absolve the |! | specific queries which subjects you |! | formulate cooperative or its partners;
b) advising related public bodies |! | the matter, in relation to the cooperative system e |! | report, at the request of authorities |! | competent, bills and other standards than |! | influence upon him.
(c) promote the development of programs and |! | activities aimed at improving management |! | business cooperatives, their development |! | organizational and obtain the full incorporation of |! | These entities to the economic activity;
d) dictate standards and to give instructions of |! | accounting and administrative to perfect the |! | operation of cooperatives, being able to establish |! | accounting for certain special standards |! | kinds of cooperatives, served the needs of its |! | operation, the number of partners, the capital or the |! | volume of their operations;
(e) enact rules relating to the preparation and |! | preservation of the records, books and documents than the |! | Department determined;
f) provide review entities or |! | auxiliary supervisors, monitoring boards and a |! | inspectors of accounts, standards development |! | its functions and content of the opinions e |! | reports to be issued;
(g) enact the rules to be observed in the |! | liquidation of cooperatives and impart |! | instructions of a general nature to members of its |! | settlement committees or their liquidators;
(h) instruct with rules of a general nature to the |! | organizers of co-operatives which fail to |! | become legally, in order to procure the |! | refund of contributions had been received by |! | This concept;
i) cooperatives that provide, require |! | by the ways that the Department designate, sufficient and |! | timely information to members and the public about its |! | legal, economic, financial and patrimonial, |! | and (j) any other this or other laws estableezcan. "."
139 Intercalanse the following items 132 ° |! | bis, bis 132 ° A and 132 ° bis B: "article 132 ° bis.-corresponds to the Department |! |" cooperative supervision of compliance of the |! | laws applicable to cooperatives and its regulations |! | regulations and particularly oversee the |! | operation corporate, administrative, accounting and |! | financial cooperatives in economic importance, |! | with the exception of those whose control over the |! | same materials, is entrusted by law to |! | other organisms. For the purposes of this Act, be |! | cooperatives of economic importance, means the |! | credit unions, cooperatives |! | Open housing, and also all those whose |! | assets are equal to or greater than 50,000 units of |! | promotion or who have more than 500 partners.
With respect to subject cooperatives to its |! | control, the Department of cooperatives may be: 1.-control operations and monitor the March |! | of these co-operatives, with full power of |! | inspection and review, with the possibility to effect check the |! | accounting books and social and documentation in |! | General; require reports and history to its |! | representatives and carry out checks and |! | material verification of accounts, expenses and |! | investments, and require, where appropriate, that their records be |! | leave testimony or insert, partially or entirely, |! | their communications;
2 representing cooperatives subject to its |! | control law violations |! | applicable to the cooperatives, their regulations, |! | statutes, instructions of the Department and other standards |! | that applicable, ordering them with your correction, without |! | prejudice to the provisions of article 67 regarding |! | fines;
3 object, suspend or prohibit the execution of |! | any agreement the General meetings, Council of |! | Administration, settlement fees of the |! | cooperatives under its control or the |! | Administrators partners referred to in article 68 |! | bis, contrary to the Act, its regulations, statutes, |! | instructions of the Department and other rules that les |! | they are applicable. It may also authorize the execution of |! | such agreements when they adolecieren produced vices |! | by formal defects and are indispensable for the |! | correct functioning of the cooperative.
The resolutions on the subject should be |! | founded and brought to the attention of the Council or of the |! | liquidation Committee by registered letter. These |! | they should put in knowledge of the partners and of the |! | third parties affected, if any, and 4.-exercise the other powers that it or others |! | laws confer you.

Article 132 bis-for the best performance of |! | its audit functions, the Department may |! | ordered the review of the administrative functioning, |! | accounting, financial and corporate cooperative |! | its controlled entities proofreaders or |! | auxiliary monitoring, of a private nature. These |! | entities may be sorting ventures, |! | specialized auditing firms, institutes auxiliary |! | cooperatives and federations or confederations of |! | cooperatives.
The Department of cooperatives established a |! | system of accreditation of such entities and will have to your |! | I charge a special register in which you must register |! | stakeholders. You can delete these registry |! | entities or not to renew its registration, when they do not meet |! | duties and requirements.
The Department shall determine the powers with which |! | These entities may act; fix requirements |! | technicians who must comply, in order to ensure by the |! | quality, reliability, and appropriateness of its functions; |! | It will issue concerning compliance with these standards and |! | systems and work procedures; and fixed |! | the requirements that must be met and warranties |! | they must pay for their corresponding registration.
The Ministry of economy, development and reconstruction |! | be fixed by Supreme Decree, tariffs than the |! | review entities may collect cooperatives |! | reports to be issued and actions than |! | These carried out in performance of their duties and the |! | values that the Department may charge to the |! | concerned for his own performances.

Article 132 ° bis B-officials of the |! | Department of cooperatives will be required to save |! | reservation regarding the documents and records of the |! | cooperatives, provided that such documents have the |! | character of public or whether requirements of |! | any power of the State.
The foregoing shall be without prejudice to the head of the |! | Department of cooperatives can distribute or make |! | spread by people and media that determined, the |! | information or documents relating to cooperatives |! | in order to ensure public faith or by interest |! | partners, and may also provide |! | General or specific records enabling the |! | preparation of statistical reports, studies and |! | research on cooperatives, provided that no |! | concerned commercial background or otherwise, |! | by their nature have a reserved character.
The staff of the Department of cooperatives not |! | you will be able to provide professional services to the |! | cooperatives. "."
140 replaced the name of the chapter V |! | by the following: "chapter V of the resource of legality and |! |" The resolution of conflict".
Replace article 133, 141 by the |! | Next: "article 133.-resolutions or acts of the |! |" Department of cooperatives will be enforceable before the |! | Court of letters in civil matters of the place of residence of the |! | requesting, within 30 days to the |! | receipt or publication of the corresponding resolution, |! | According to the case, or to the realization of the contested act.
The Court will solve short and summarily, with |! | hearing of the Department of cooperatives, which |! | they must locate it, so that if deemed relevant |! | evacuate its report within the time limit of 15 days over the |! | increase that corresponds according to the table of |! | location to answer demands. Together with its |! | report, must be sent to the Court all the |! | background who held his power and which are |! | related to the claimed matter.
The Court may order, ex officio or upon request |! | part, that those proceedings that practised |! | It considers essential for the successful resolution of the |! | claim.
The statement issued in the claim shall be final; |! | However, those that reject it will be appealed in the |! | only devolutive effect. In the case of claims |! | against resolutions that impose fines, the |! | sentence will be appealed on the suspensive effects and |! | devolutive. "."
142 Intercalanse, then of the article |! | 133 °, the following articles 133 ° Á, 133 B, 133 ºc, |! | 133 ° d, 133 ° E, 133 ° F and 133 ° G, new: "article 133-disputes which are |! |" between the partners in his capacity as such; among |! | These and the cooperatives that form or have |! | formed part; and, between each other, with |! | concerning the interpretation, application, validity or |! | compliance with this Act, its regulations or the |! | Bylaws, will be resolved by Justice |! | ordinary trial summary or by procedure |! | arbitration, choice of the applicant. In the latter |! | case, the arbitration shall be subject to the rules as is |! | set out in the following articles.
Will be resolved under the same procedure, the |! | legal disputes which may arise between the opponents to |! | partners and organisers of cooperatives that not |! | they should be legally, a special connection |! | of the restitution of the sums or contributions that had |! | received; those relating to the standardization of |! | cooperatives that have uneven performance; y |!| which may arise on the occasion of the designation of |! | during the same liquidation and liquidators of the |! | cooperative.

Article 133 B.-the General Confederation of |! | CONFECOOP Chile-CHILE LIMITADA cooperatives or others |! | integration of cooperatives bodies, take |! | Records of arbitrators, in accordance with the provisions of the |! | A regulation issued to this effect.

Article 133 ° c.-the appointment of the arbitrator |! | It will be up to the parties by mutual agreement.
In the event that there is no compromise or consent |! | between the parties with respect to the person of the referee, the |! | appointment will be made by the courts, owing |! | in such a case be such appointment in a single |! | These records guy, and diverse of the |! | first proposed by each party.
In the absence of registration of arbitrators at home de |! | the cooperative, the appointment will be made by Justice |! | ordinary, in the way established in the code of |! | Civil procedure for the appointment of experts.

Article 133 D.-the arbitrators shall be appointed in |! | quality of arbiters of law, unless the parties |! | by common agreement designate them in another character.

Article 133 E.-the referee shall have the power of |! | Parties require funding that it deems |! | necessary for the payment of the costs than |! | It requires the handling of the trial, even when she not |! | It is demanding. The foregoing is without prejudice to which |! | in the sentence is determined, in accordance to the |! | General rules.

Article 133 F.-disputes to be |! | concerns the present title, which are subject to the |! | the arbiters of right knowledge, will be processed |! | in accordance with the summary procedure provided for in the |! | articles 680 et seq. of the code of procedure |! | Civil. Article 133 G.-shall be competent to know de |! | the issues the judge referred to in this chapter of |! | lyrics in civil matters of the place in which he has his domicile |! | the co-op. "."
143. Insert, after article 133 |! | G, the following heading: "chapter VI provisions |! |" Several".
144 repealed article 134.
145 repealed article 135.
146 repealed article 136. 147.-replace article 137, by the |! | Next: "article 137-cooperative entities that |! |" have, to the date of entry into force of this law, |! | the character of special or agricultural cooperatives or |! | electrical energy supply will continue |! | applying the Decree Law Nº 3.351, 1980, without |! | prejudice to the supplementary application of this law.
Supply or agricultural cooperatives of |! | electric power, may be transformed into special, |! | of the governed by Decree Law Nº 3.351, 1980.
The above does not preclude that the referred |! | cooperatives to reform their statutes with the object of |! | be entirely subject to this Act. "."
148 replaced article 138, by the |! | Next: "article 138.-repeal the following |! |" laws and regulations: the law No. 5.588; Title V of law No. 5.604; the |! | Decree Law No. 1.320, 1976; the decree with force of |! | Law No. 12, 1968, of the Ministry of agriculture; the |! | Decree Law No. 13, 1968, of the Ministry |! | of agriculture; Supreme Decree No. 595, in 1932, of the |! | Ministry of labour; Supreme Decree No. 85, of the |! | Ministry of labour; the Supreme Decree Nº 2.380, de |! | 1948, the former Ministry of public works and roads of |! | Communication; Supreme Decree No. 250 of 1958, of the |! | Ministry of agriculture; Supreme Decree No. 549, de |! | 1964, the Ministry of agriculture; the Supreme Decree |! | No. 1.044 of 1965, the Ministry of economy, development and |! | Reconstruction; the Supreme Decree Nº 497, in 1967, of the |! | Ministry of economy, development and reconstruction; the |! | Supreme Decree No. 1230, in 1969, of the Ministry of |! | Economy, development and reconstruction; the law Nº 18.023; the |! | Article 80 of the law Nº 18.899 and Supreme Decree Nº |! | 289, 1975, of the Ministry of agriculture. "."
149 Agreganse the following new articles: "article 139.-the general meeting of partners shall |! |" previously approve any acquisition, for pecuniary, |! | of capital shares, stocks, or social rights of |! | any cooperative or society, by virtue of the |! | which comes to have invested in one of these at least |! | 10% of their own heritage.

Article 140.-operations between the |! | cooperatives and designated legal persons in the |! | preceding article shall observe conditions of |! | equity similar to that usually prevail in |! | the market. Some administrators and others will be |! | responsible for losses or damages that may |! | cause the entity managed by operations |! | made with violation of this article.
The preceding subparagraph shall also |! | applicable to operations engaged each other, the |! | societies whose social capital belong in, at least, |! | 25% to the same cooperative.

Article 141.-the supervisory body |! | respective may examine all books, accounts, |! | files and documents of the companies belonging |! | in, at least fifty percent to a cooperative, |! | to verify that the rights, obligations and |! | results are properly reflected in the reports and |! | financial statements of the cooperative.

Article 142.-foreign cooperatives may |! | constitute an agency operating in the national territory, |! | in accordance with the rules of law No. 18,046, on |! | corporations, and will be subject to the rules of |! | the present law on what is relevant, but not |! | they will enjoy tax benefits that the Chilean law |! | recognized cooperatives.

Article 143.-shall apply to acts of |! | Constitution or cooperative that modification |! | constitute in the future or that have constituted |! | prior to this law, in addition to provisions |! | specific to that she keeps on sanitation of |! | vices of nullity, the provisions of the law Nº |! | 19.499. for the purposes of this Act means by |! | modification of both cooperative reform of its |! | statutes, as their merger, division, transformation or |! | dissolution, and must apply in their regard the |! | procedures and standards established for societies |! | anonymous. "."
"150 replaced the current final chapter |! |" Transitory articles"by the following:" provisions transitional article 1.-will continue to apply with respect |! | " cooperatives of agricultural colonization, |! | agricultural land reform and agrarian reform, |! | that have been dissolved, whether voluntarily or forcibly, with |! | prior to the publication in the official journal of the |! | Article 2 (ley Nº 18.755, la letra d) |! | transient.
Article 2.-the cooperatives in training, to the |! | date of entry into force of the present law, |! | with respect to which has not issued the decree or |! | resolution that authorizes their existence, will adhere to the |! | Constitution procedure established herein |! | law.
Article 3.-the Department of cooperatives may |! | exercise the powers provided the second paragraph |! | Article 53 of the General Law of cooperatives, |! | with regard to cooperatives which have been dissolved |! | force before the entry into force of this law and whose |! | general meeting of partners has not appointed his Commission |! | liquidation.
Article 4.-the open housing cooperatives |! | and the existing credit unions shall |! | Learn about heritage in within a year |! | from the date of publication of the present law |! | in the official journal.
Article 5.-housing cooperatives |! | they have obtained mortgage loans prior to |! | the publication of this law and that they have not paid |! | entirely its debt, will require the prior |! | consent of the mortgagee to |! | in domain award dwellings to their partners.
Article 6.-the values accumulated funds of |! | reserve, in accordance with the provisions of this |! | law had the character of irrepartibles during the |! | validity of the cooperative, will keep this character, |! | concurrence of the amount expressed in the balance until |! | corresponding to the end of the previous year to the |! | date of publication of this law.
Article 7.-the cooperatives that currently |! | are required to constitute a liability Fund |! | will keep this responsibility while appropriations |! | causing it to have balance.
The Fund's liability will increase up to |! | to reach 20% of the balance of dividends payable. |!| Latest dividends may pay out such |! | Fund. In any case, shall apply with respect to that |! | Fund as provided in article 37.
Article 8.-existing cooperatives, along |! | the first reform of statutes agreed, |! | they must adapt them to the rules of this |! | law, and register and publish a summary of the new |! | Statute, which will contain the above mentions in the |! | articles 13 and 14 of this legal body.
A summary will be included along with the above |! | issued by the Department of cooperatives, than |! | contains the minutes of the constituent General meeting and its |! | supplementary proceedings, rectificatorias or amended.
For these purposes, this Department may |! | require the Secretary of agriculture or others |! | public bodies, the background relating to the |! | peasant cooperatives or otherwise, that have been |! | authorized by them.
In any case, under cooperatives to |! | control shall comply with the provisions of this |! | Article within the period of one year from the entry in |! | entry into force of this law.
Article 9.-saving and credit cooperatives |! | at the date of entry into force of the present law |! | they are under the control of the |! | Superintendency of banks and financial institutions |! | pursuant to article 4 |! | transient of the General banking law, will remain in the |! | situation described in that article and not be |! | perform new operations authorized by this law, |! | While they have not fulfilled the abovementioned conditions in |! | Article 112 bis.
Article 10.-The entities that the date of |! | entry into force of this law having the character of |! | Union cooperatives, shall be taken by the single |! | Ministry of law by federations, whenever |! | comply with the requirements herein |! | law.
Article 11.-This law will enter into force |! | six months after its publication in the journal |! | Official. "."