Act 454 1998

Original Language Title: LEY 454 de 1998

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1998 LAW 454

(August 4)

Official Journal No. 43,357 of 6 August 1998

By which the conceptual framework that regulates the solidarity economy is determined, the National Administrative Department of Cooperatives is transformed into the National Administrative Department of the Solidarity Economy, the Superintendence of the Solidarity Economy, the Guarantee Fund for the Financial and Savings Cooperatives is created, rules on the financial activity of the entities of a cooperative nature are dictated and other provisions are issued.

Vigency Notes Summary

COLOMBIA CONGRESS

DECRETA:

TITLE I.

PRELIMINARY RULES

CHAPTER I.

GENERAL PRINCIPLES

ARTICLE 1o. OBJECT. The purpose of this law is to determine the conceptual framework that regulates the solidarity economy, to transform the National Administrative Department of Cooperatives into the National Administrative Department of the Economy of Solidarity, to create the superintendence of the solidarity economy, the creation of the guarantee fund for financial and savings cooperatives, the laying down of rules on the financial activity of entities of a cooperative nature and the issuing of other provisions in correspondence with what is foreseen in the articles 58, 333 , and concordant to the Colombian Political Constitution.

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ARTICLE 2o. DEFINITION. For the purposes of this law, "Economy of Solidarity with the Socio-Economic, Cultural and Environmental System" formed by the set of social forces organized in associative forms identified by self-managing practices. solidarity, democratic and humanist, non-profit for the integral development of the human being as a subject, actor and end of the economy.

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ARTICLE 3o. PROTECTION, PROMOTION AND STRENGTHENING. Declaration of common interest the protection, promotion and strengthening of cooperatives and other associative and solidary forms of property as an effective system for contributing to economic development, This is the only way to strengthen democracy, the equitable distribution of property and income, and the rationalization of all economic activities, in favor of the community and especially of the popular classes.

PARAGRAFO. The State will guarantee the free development of the Entities of Solidarity Economy, through encouragement, promotion, protection and surveillance, without prejudice to their natural autonomy.

CHAPTER II.

CONCEPTUAL FRAMEWORK

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ARTICLE 4. PRINCIPLES OF SOLIDARITY ECONOMY. It is the principles of the Solidarity Economy:

1. Being good, their work and cooperation mechanisms have primacy over the means of production.

2. Spirit of solidarity, cooperation, participation and mutual assistance.

3. Democratic, participatory, self-managing and enterprising management.

4. Voluntary, responsible and open membership.

5. Joint ownership and solidarity on the means of production.

6. Economic participation of the partners, in justice and equity.

7. Training and information for its members, on a permanent, timely and progressive basis.

8. Autonomy, self-determination and self-government.

9. Service to the community.

10. Integration with other organisations in the same sector.

11. Promotion of the ecological culture.

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ARTICLE 5o. ENDS OF THE SOLIDARITY ECONOMY. The Solidarity Economy has as its main purposes:

1. Promote the integral development of the human being.

2. To generate practices that consolidate an experiential current of solidarity, critical, creative and entrepreneurial thinking as a means to achieve the development and peace of the peoples.

3. Contribute to the exercise and improvement of participatory democracy.

4. Participate in the design and implementation of plans, programs and projects for economic and social development.

5. To ensure participation and access to training, ownership, information, management and equitable distribution of benefits without any discrimination.

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ARTICLE 6o. CHARACTERISTICS OF THE ORGANIZATIONS OF SOLIDARITY ECONOMY. The legal persons organized for non-profit activities, in which workers or users as the case may be, are subject to this law. simultaneously its contributors and managers, created in order to produce, distribute and consume jointly and efficiently, goods and services to meet the needs of its members and the development of works of service to the community in general, observing in its operation the following characteristics:

1. To be organized as a company that contemplates in its social object, the exercise of a socioeconomic activity, tending to satisfy the needs of its associates and the development of works of community service.

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2. To have established an associative link, founded on the principles and purposes mentioned in this law.

3. To have included in its statutes or basic rules of operation the absence of profit, moved by solidarity, social service or community.

4. Guarantee the equal rights and obligations of its members without regard to their contributions.

5. Establish in its statutes a minimum amount of non-reducible social contributions, duly paid, during its existence.

6. Integrate socially and economically, without prejudice to their links with other non-profit entities that aim to promote the integral development of the human being.

PARAGRAFO 1o. In any case, the organizations of the solidarity economy must comply with the following economic principles:

1. To establish the irrepressibility of the social reserves and, in the event of liquidation, that of the patrimonial remnant.

2. To allocate their surplus to the provision of services of a social nature, to the growth of their reserves and funds, and to reintegrate part of them in proportion to the use of the services or to the participation in the work of the company, without prejudice to the depreciation of contributions and to their actual value.

PARAGRAFO 2o. They have the character of solidarity organizations among others: cooperatives, second and third grade organizations that group cooperatives or other associative and solidary forms of property, In the case of the European Parliament, the Commission has taken the form of a joint decision on the basis of the Commission's decision to grant aid to the European Community. public cooperatives, associative enterprises of work and all those associative forms solidarity which complies with the characteristics referred to in this Chapter.

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ARTICLE 7o. THE SELF-CONTROL OF THE SOLIDARITY ECONOMY. The legal persons, subject to this law, shall be subject to the social, internal and technical control of their members, by means of the instances that for the purpose are created within the respective operational structure, following the orders laid down by law and by the statutes.

PARAGRAFO. To safeguard the principle of self-management, associates, during the process of choosing their dignitaries, will seek to establish criteria that take into account personal capacity and skills, the knowledge, ethical integrity and the skill of those who exercise representativeness. The organizations of the Solidarity Economy, in its statutes, will establish rigorous requirements for access to the administrative organs, and vigilance, taking into account the criteria previously mentioned.

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ARTICLE 8o. THE PARTICIPATION OF THE ECONOMY IN SOLIDARITY IN TERRITORIAL DEVELOPMENT. The entities of the Solidarity Economy must carry out the necessary and appropriate operations to comply with their social object or to extend their activities, by means of vertical and horizontal integration systems, establishing networks of territorial or national intercooperation and economic, social and cultural plans as a whole.

PARAGRAFO. The aforementioned economic, social and cultural plans may refer, among other activities, to the exchange or exploitation of services, joint acquisitions, financing of special projects, The promotion of services and the realization of common works, and everything that tends to its greatest promotion and development.

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ARTICLE 9o. INTEGRATION TO CONSOLIDATE CULTURE SOLIDARITY IN TERRITORIAL DEVELOPMENT. In the same sense of integration, the institutions of Solidarity Economy must make social and educational and cultural plans, through the centralization of resources in second-degree organizations or auxiliary institutions specialized in solidarity education, which allow compliance with the rules laid down in this law, which will help to consolidate the solidarity culture of its partners and contribute to the implementation of similar programmes set out in the plans territorial development.

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ARTICLE 10. DESIGN, DEBATE, IMPLEMENTATION AND EVALUATION OF TERRITORIAL DEVELOPMENT PLANS. The entities subject to this law may participate in the design, debate, implementation and evaluation of territorial development plans, in particular for to introduce programmes that directly benefit and promote the participation and development of their coherent and harmonious community with development and territorial growth. In any case, in the adoption of territorial plans and specific programmes of the territorial authorities, which have an impact on the activities of the organizations of the Solidarity Economy, the opinion of the entities of the sector that is are directly affected.

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ARTICLE 11. THE SUPPORT OF THE TERRITORIAL AUTHORITIES. The territorial authorities will be able to support, in their specific radio of action, the programs of development of the Solidarity Economy. They will also be able to establish links with the second and third graders and auxiliary institutions of their territorial scope, in order to establish common development programs, contribute to the autonomous programs of development of the sector or to introduce these into the plans, programmes and projects for territorial development.

PARAGRAFO. In any case, the territorial authorities will be able to support the specialized agencies in solidarity education of their territorial scope, in compliance with their social object. They will also be able to promote the work carried out by universities or institutions of higher education.

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ARTICLE 12. THE ORGANIZATIONS OF THE SOLIDARITY ECONOMY AND SUSTAINABLE DEVELOPMENT. The legal persons subject to this law will work for the sustainable development of the communities of their territorial scope, based on policies approved by the competent administrative authorities and territorial councils for participatory planning.

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ARTICLE 13. PROHIBITIONS. No legal person subject to this law shall be permitted to:

1. To establish restrictions or to carry out practices involving social, economic, religious or political discrimination.

2. To establish with companies or commercial persons, conventions, combinations or agreements that involve them, directly or indirectly, of the benefits or prerogatives that the laws grant to cooperatives and other associative forms and Property solidarity.

3. To grant advantages or privileges to promoters, employees, founders or preferences to any portion of social contributions.

4. To grant to its administrators, in the development of their functions, percentages, commissions, perks, advantages, privileges or the like that damage the fulfillment of their social object or affect the entity.

5. Develop activities other than those stipulated in its statutes.

6. To become a merchant company.

CHAPTER III.

INTEGRATION OF THE SOLIDARITY ECONOMY

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ARTICLE 14. SECOND-DEGREE ORGANIZATIONS. Solidarity Economy organizations may be associated with each other for the best performance of their economic, social or cultural purposes in second-degree national or regional organizations. Those of an economic nature will be specialized in a particular field or activity. Such bodies may also participate in other non-profit private law institutions which may contribute to or benefit from the activities of such institutions.

PARAGRAFO 1o. Second-degree bodies of national character require, to be a minimum number of ten (10) entities.

PARAGRAFO 2o. Second-degree regional organizations require to be a minimum number of five (5) entities.

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ARTICLE 15. PARTICIPATION OF NATURAL PERSONS. The competent authority, exceptionally and when the socio-economic conditions so warrant, may authorise participation in second-degree economic bodies as partners, natural persons, with the right to participate up to a third in the administrative and supervisory bodies, in order to guarantee the majority representation of legal persons. The voting rights of the natural persons associated shall be laid down in the statutes.

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ARTICLE 16. THIRD-DEGREE ORGANIZATIONS. The second-degree organizations that integrate cooperatives and other associative and solidary forms of property, may create third-degree, regional, national or sectoral organizations for the purpose of guide the movement's development processes and unify national or international defense and representation actions. A third-degree body may only be established with a non-lower number of twelve (12) entities.

PARAGRAFO. The existing third-grade bodies, from the time of this law, shall adapt their statutes to the statements of this Article, indicating precisely their radius of action economic or the associative or solidarity forms they represent.

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ARTICLE 17. INTERCOOPERATION AGREEMENTS. Solidarity Economy organizations may also agree to carry out one or more operations jointly, establishing which of them should assume the management and responsibility to third parties.

PARAGRAFO. In no case will it be possible to set conventions for performing operations that are not expressly authorized to them.

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ARTICLE 18. APPLICATION OF NORMAS. The second and third grade bodies shall be applicable to the relevant, the legal rules provided for in this law.

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ARTICLE 19. ECONOMIC INTEGRATION. The institutions of the Solidarity Economy may constitute, sectorially or jointly, cooperative bodies of a regional or national nature, in accordance with the provisions of this Law and the existing ones on the subject.

TITLE II.

SOLIDARITY ECONOMY SUPPORT AGENCIES

CHAPTER I.

NATIONAL SOLIDARITY ECONOMY COUNCIL, CONES

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ARTICLE 20. RESTRUCTURING OF THE NATIONAL COUNCIL OF SOLIDARITY ECONOMY. Restructure the National Council of Solidarity Economy-Cones-as the body that formulates and coordinates, at national level, policies, strategies, plans, programs and projects (a) the system of the Solidarity Economy.

The Cones will be able to form regional and local chapters with functions similar to the national one, in its regional scope.

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ARTICLE 21. CONFORMATION OF THE NATIONAL COUNCIL OF SOLIDARITY ECONOMY. The National Council of Solidarity Economy-Cones-will be made up of a representative of each of the components of the system, democratically elected by the respective sector to through its integration bodies, in accordance with the statutory rules of the Cons as follows:

1. A representative of each of the third-grade bodies and in the case of the non-existence of the third-grade body of the second-degree bodies grouping cooperatives, auxiliary institutions of the Solidarity Economy or other forms associative and solidary ownership.

2. A representative of the regional chapters chosen by the chapters to be created in accordance with the regulations issued by the Cones.

3. The Director of the National Administrative Department of the Solidarity Economy, who will attend as a guest with a voice but without a vote.

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ARTICLE 22. FUNCTIONS OF THE NATIONAL SOLIDARITY ECONOMY COUNCIL.

1. Promote and disseminate the principles, values and aims of the Solidarity Economy.

2. Formulate, coordinate, promote the implementation and evaluation at national level of the policies, strategies, plans, programs and general projects within the system of the solidarity economy.

3. Integrate the components of the Solidarity Economy system.

4. Approve their own internal statutes and regulations.

5. Appoint the Executive Secretary and other management positions in accordance with its statutes.

6. Participate in the national development concertation bodies.

7. To be a consultative body of the National Government in the formulation of policies related to the Solidarity Economy.

8. Designate the specialized technical committees that are necessary.

9. Drawing up policies in the field of solidarity education.

10. The other that the law, the statutes and regulations assign to it.

CHAPTER II.

SOLIDARITY ECONOMY PROMOTION FUND

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ARTICLE 23. OF THE SOLIDARITY-FONS ECONOMY PROMOTION FUND. Create the Fund for the Promotion of the Solidarity Economy-Fones-with legal personality, own patrimony and solidarity nature linked to the National Department of the Economy Solidarity and submitted control, inspection and surveillance of the Superintendence of the Solidarity Economy.

PARAGRAFO. The National Government exercising its regulatory authority will determine the organization and operation of the Fones.

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ARTICLE 24. MEMBERS AFFILIATED TO THE FES. They will be members of the Fones, the entities of the Solidarity Economy that subscribe to the contributions as determined by the regulations.

PARAGRAFO. The Fones affiliation will be voluntary and will have access to their credits only the affiliated entities.

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ARTICLE 25. FUNTIONS OF THE FONES. They are functions of the Fones.

1. To grant credits for the development projects of the registered Solidarity Economy entities.

2. Manage the resources at your disposal.

3. To promote the solidarity organizations of production and associated work.

4. Grant solidarity credits to strengthen the smaller Solidarity Economy organizations.

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ARTICLE 26. THE CAPITAL OF THE FUND FOR THE PROMOTION OF THE SOLIDARITY ECONOMY . Fones, will be constituted with: private contributions from its members, the solidarity sector and with the appropriations allocated to it in the National Budget as determined by the Government for which it will have special powers in order to comply with the to the Political Constitution in its articles 58, 333 and concordant.

PARAGRAFO. Solidarity Economy organizations will be able to allocate part of the education and solidarity funds as contributions or contributions to the Fones.

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ARTICLE 27. OF THE FON BOARD. The Board of Directors of the Fones will be constituted as follows:

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1. Three representatives of the National Government who will be the Director of the Administrative Department of the Solidarity Economy, who will preside over him, the Minister of Finance and Public Credit or his delegate, and the Minister of Economic Development or his delegate.

2. A representative of the National Council of the Solidarity Economy-Cones.

3. A representative of the institutions of the Solidarity Economy, contributing to the Fones.

PARAGRAFO. The Technical Secretariat will be in charge of the Director of the Fones who will assist with a voice but without a vote.

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ARTICLE 28. FUNCTIONS OF THE BOARD OF DIRECTORS. They are functions of the Board of Directors, in addition to those that are determined in the statutes, the following:

1. To establish the general policies of the Fones, in accordance with the policies outlined by the National Council of the Solidarity Economy, Cones.

2. Regulate the granting of credit and promotion to its affiliates and define the class of eligible guarantees.

TITLE III.

PROMOTION, DEVELOPMENT, AND MONITORING STATE ENTITIES

CHAPTER I.

RESTRUCTURING OF THE NATIONAL ADMINISTRATIVE DEPARTMENT OF COOPERATIVES

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ARTICLE 29. TRANSFORM. As of the current law, transform the National Administrative Department of Cooperatives, which will be called the National Administrative Department of the Solidarity Economy, which can also be identified with the acronym Dansocial.

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ARTICLE 30. OBJECTIVES AND FUNCTIONS. The National Administrative Department of the Solidarity Economy will have as objectives: to direct and coordinate state policy for the promotion, planning, protection, strengthening and business development of the organizations of the Solidarity Economy, determined in this law, and to comply with the provisions laid down in the Political Constitution of Colombia. In order to meet its objectives, the National Administrative Department of the Solidarity Economy will have the following general functions:

1. Formulate the policy of the National Government with respect to the organizations of the Solidarity Economy within the constitutional framework.

2. Develop plans, programs and projects to promote, develop and protect the State with respect to the organizations of the Solidarity Economy and put them under consideration by the National Administrative Department of Planning.

3. Coordinate state policies, plans and programs for the development of the Solidarity Economy, among the various entities of the State of the national, departmental, county, or municipal order, as well as the specific functions that these public institutions to perform to the benefit of the entities of the Solidarity Economy and in fulfillment of their functions.

4. To seek the coordination and complementation of the policies, plans, programs and functions of the State related to the promotion, promotion and development of the Solidarity Economy, with respect to similar matters as the entities of the integration and promotion of this sector, or those that are brought forward by other national or international private institutions, interested in it.

5. Coordinate inter-sectoral, inter-regional and inter-institutional networks for the promotion, training, research, promotion, protection, strengthening and stimulation of the business, scientific and technological development of the Solidarity Economy.

6. To carry out studies, research and to carry statistics that allow knowledge of the reality of the organizations of the Solidarity Economy and of its environment, for the best fulfillment of its objectives.

7. To promote the creation and development of the various types of Solidarity Economy entities, for which it will be able to provide the advice and technical assistance, both to the communities interested in the organization of such entities, and to these same.

8. To promote and support the action of the organizations for the integration and promotion of the entities of the Solidarity Economy, with which the implementation of the programs can be agreed.

9. To disseminate the principles, values and doctrine by which the organizations of the Solidarity Economy are guided and to promote solidarity education, as well as that related to the socio-entrepreneurial management for these types of entities.

10. Identify, coordinate and boost resources at inter-institutional and inter-sectoral level.

11. Organize the induction and education processes in the practice of the Solidarity Economy and issue certificates of accreditation on education in theory and practice of Economics Solidarity.

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ARTICLE 31. ASSUMPTION OF OBLIGATIONS AND TRANSITORY FUNCTIONS. The National Administrative Department of the Solidarity Economy, will assume the obligations of the National Administrative Department of Cooperatives, as long as they correspond to their own functions.

It will also carry out the functions of control, inspection and surveillance, until the new Superintendence of the Solidarity Economy, an agency that will immediately assume them, will be organized.

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ARTICLE 32. Structure. To develop and fulfill its functions, the National Administrative Department of the Solidarity Economy will have the following structure:

1. Office of the Director.

a) Legal Office;

b) Office of Internal Control;

c) Office of Communications and Disclosure;

d) Office of Systems and Statistics.

2. Office of the Deputy Director.

a) Education and training unit;

b) Socio-economic research unit;

c) Planning and Evaluation Unit;

d) Promotion and Promotion Unit.

3. General Secretariat.

a) Human Resources Unit;

b) Administrative and Financial Unit.

The National Government, taking into account the constitutional principles of the civil service and, in compliance with the objectives and purposes of the National Administrative Department of the Solidarity Economy, will develop the new structure and assign the functions of the different dependencies, being able to reorder the ones arranged in this article or create new ones. The exercise of these powers will be developed in such a way that, in accordance with the policies of decentralization, the work of promotion and promotion, throughout the national territory, will be strengthened and expanded.

CHAPTER II.

SOLIDARITY ECONOMY SUPERINTENDENCE

Editor Notes
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ARTICLE 33. CREATION AND LEGAL NATURE. Create the Superintendence of the Solidarity Economy as a technical body, attached to the Ministry of Finance and Public Credit, with legal status, administrative and financial autonomy.

Editor Notes

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ARTICLE 34. ENTITIES SUBJECT TO THEIR ACTION. 98 of Act 795 of 2003. The new text is as follows: > The President of the Republic will exercise through the Superintendence of the Solidarity Economy the inspection, surveillance and control of the cooperatives and organizations of the Solidarity Economy that determines by means of a general measure, which are not subject to the specialized supervision of the State. In the case of multi-active or integral savings and credit cooperatives with savings and credit section, the functions will be assumed by this Superintendence, by establishing a delegation specialized in financial supervision, which will receive technological assistance, technical advice and training of the human resource of the Banking Superintendence.

For the effective exercise of its functions, as well as the objectives of the supervision, control and surveillance assigned by the Political Constitution and the laws, the Superintendent of the Solidarity Economy will have the powers foreseen for the Banking Superintendent, in so far as it applies to the entities subject to its supervision. Consequently, the system of takeover provided for in the Organic Statute of the Financial System applies to entities subject to the supervision, control and supervision of the Superintendence of the Solidarity Economy in respect of compliance with the regulations that the National Government will issue for the purpose.

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ARTICLE 35. OBJECTIVES AND PURPOSES. The Superintendence of the Solidarity Economy, as a technical supervisory authority, will develop its management with the following general objectives and objectives:

1. To exercise control, inspection and supervision over the entities that shelter their action to ensure compliance with the laws and regulations and the rules contained in their own statutes.

2. Protect the interests of the partners of the organizations of the Solidarity Economy, of the third parties and of the community in general.

3. To ensure the preservation of the legal nature of the entities subject to their supervision, in order to make their values, principles and essential characteristics prevail.

4. Monitor the correct application of the resources of these entities, as well as the proper use of the regulatory advantages granted to them.

5. Monitor compliance with the non-profit socio-economic purpose that should guide the organisation and functioning of the supervised entities.

Editor Notes

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ARTICLE 36. FUNCTIONS OF THE SUPERINTENDENCE OF THE SOLIDARITY ECONOMY. They are faculties of the Superintendence of the Solidarity Economy for the achievement of their objectives:

1. To verify compliance with the provisions on financial statements by the National Government.  

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2. Establish the regime of periodic or occasional socio-economic reports that the entities subject to their supervision must present to them, as well as request them, their administrators, legal representatives or tax reviewers, when it results necessary, any information of a legal, administrative, accounting or financial nature on the development of its activities.

3. To set the accounting rules to which the institutions are to be subject under their supervision, without prejudice to compliance with the legal provisions governing the matter.

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4. Carry out, ex officio or at the request of an interested party, inspection visits to the entities subject to supervision, examine their files, determine their socio-economic situation and order the measures to be taken to remedy the situation. irregularities observed in their development. The visitation reports will be transferred to the monitored entities. As soon as it is necessary to verify facts or situations related to the functioning of the supervised entities, the visits may be extended to unsupervised persons.

5. To question under oath any person whose testimony is required for the clarification of facts related to the administration, with the audit or, in general, with the functioning of the entities subject to its supervision. In the course of this attribution, it may require the appearance of the requested person, making use of the coercive measures that are used for these purposes in the Code of Civil Procedure.

6. Impose personal administrative sanctions. Without prejudice to the liability of any director, manager, reviewer, prosecutor or other official or employee of an entity subject to the supervision of the Superintendent of the Solidarity Economy to authorize or execute acts, In violation of the statute of the entity, of some law or regulation, or of any legal norm to which the establishment must be held, the Superintendent of the Solidarity Economy will be able to sanction him, for every time, with a fine up to two hundred (200) minimum wages in favor of the National Treasury. The Superintendent of the Solidarity Economy will also be able to demand the immediate removal of the infringer and will communicate this determination to all the supervised entities.

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The fines provided for in this article may be successive as long as the non-compliance of the standard is subsisting and shall apply without prejudice to the provisions of the numerals 1, 2 and 3 of the article 208 of the Organic Statute of the Financial System.

7. Impose institutional administrative sanctions. When the Superintendent of the Economy of Solidarity, after requesting explanations from the administrators or legal representatives of any institution subject to its supervision, make sure that they have violated a rule of their status or a regulation, or any other legal entity to which it must be subject, will impose on the establishment, for each time, a fine in favor of the National Treasury of up to two hundred (200) minimum wages, graduating to their judgment, according to the seriousness of the infringement or the pecuniary benefit obtained, or according to both factors.

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The fines provided for in this numeral may be successive as long as the failure to comply with the standard and shall apply without prejudice to the provisions of the numerals 1, 2 and 3 of Article 208 of the present status.

8. Order the removal of directors, administrators, members of supervisory boards, legal representatives, tax revisers and officials or employees of the solidarity organizations subject to their supervision when irregularities are presented so they merit it.

9. Decree the dissolution of any of its supervised entities, due to the causals provided for in the law and in the statutes.

10. Perform the registration and registration acts provided for in article 63 of this law.

11. Order the cancellation of the registration in the corresponding record of the document of incorporation of an entity subject to its control, inspection and surveillance or the registration that has been made of the appointments of its organs of administration, surveillance, legal representatives and tax reviewers, in case of warning that the information submitted for registration does not conform to the statutory or statutory rules. The cancellation of the registration of the document of incorporation entails the loss of the legal personality, and it will be carried out whenever the defect is not subsanable, or when it has elapsed the reasonable period granted for its correction.

12. To order amendments to the statutory reforms adopted by the entities subject to their control, inspection and surveillance, when they depart from the law.

13. Provide the necessary actions to obtain the timely payment of the contributions by the entities subject to their control, inspection and surveillance.

14. To process complaints or complaints against supervised entities by those who have a legitimate interest in order to establish administrative responsibilities and to order the measures to be taken. relevant.

15. To provide for the consultations to be held on matters falling within its competence.

16. To develop actions to facilitate knowledge on the legal status of entities subject to their supervision.

17. To advise the National Government on matters relating to the exercise of its functions.

18. Fix the amount of the Bones that the supervised entities must pay to the Superintendence to meet their operating expenses in proportional percentages.

19. Internally define the level of monitoring to be applied to each entity and communicate it to it at the time it comes from, and

20. To convene on its own initiative or at the request of a party to General Assembly meetings in the following cases:

(a) Where the procedures referred to in Article 30 of Law 79 of 1988 have not been complied with;

(b) Where serious irregularities have been committed in the administration which must be known or remedied by the highest social body.

21. Authorise the merger, transformation, incorporation and division of the institutions of the Solidarity Economy subject to their supervision, without prejudice to the powers of approval or approval in respect of such operations, other authorities on the basis of the special rules.

22. Instruct the institutions to monitor the manner in which the provisions governing their activity are to be complied with, to lay down the technical and legal criteria to facilitate compliance with these rules and to identify the procedures for their application.

23. To exercise the functions of inspection, surveillance and control in relation to the cooperative savings and credit institutions and the multi-active or integral with savings and credit section on the same terms, with the same powers and following the The same procedures developed by the Banking Superintendency with respect to credit institutions, including within them, the privileges related to rescue and takeover institutes to administer or liquidate ".

24. In any case, such procedures shall be established on the basis of methodologies adapted to the cooperative nature.

25. The others who assign the law to him.

PARAGRAFO 1o. The National Government may determine monitoring levels for the exercise of the functions provided here.

PARAGRAFO 2o. In the development of its powers of inspection, surveillance and control, the Superintendence of the Solidarity Economy can be partially supported, in order to obtain technical collaboration, in organizations of integration of the institutions of the Solidarity Economy, in auxiliary institutions of the Solidarity Economy or in specialized firms.

Editor Notes
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ARTICLE 37. REVENUE. 99 of Law 795 of 2003 >. The new text is as follows: > The resources needed to cover the operating and investment costs required by the Superintendency of the Solidarity Economy will come from the following concepts:

1. Contribution rate. It corresponds to the contributions paid by the supervised entities and will be required by the Superintendent of the Solidarity Economy.

For these purposes, the Superintendent of the Solidarity Economy will have to, the 1o. February and 1o. of August of each year, or before, require the abovementioned entities to pay the contribution. The management and administration of these resources will be in charge of the Superintendence of the Solidarity Economy.

The amount of the contribution imposed on the supervised entities shall be equal to their respective assets.

2. Other income.

a) The resources transferred from the General Budget of the Nation;

(b) the resources to be obtained by the sale of their publications, the tender documents or the merit contest, as well as photocopies, certifications or constances;

c) The contributions, grants or donations that you receive for the fulfillment of your purposes;

(d) The fees levied for the lease of assets;

e) The resources from the services that the entity provides;

(f) The resources originated in the sale or lease of information systems and computer programs designed and developed by the entity;

g) Interest, income, and other benefits that you receive from managing your own resources;

h) Other income that is recognized by law.

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ARTICLE 38. CRITERIA FOR THEIR FIXATION. The Superintendent of the Solidarity Economy shall fix and distribute the contribution by the entities subject to their inspection, control and surveillance, taking into account the following criteria:

1. The total cost of the contribution shall be distributed among the different groups of entities according to their economic activity and level of supervision in order that the contribution is paid in proportion to the expenditure that involves the State control, inspection and surveillance of each group of entities.

2. The contribution cost for each entity will be up to two (2) per thousand (1,000) on its total assets, according to the financial statements at the year immediately preceding the year.

3. Where a solidarity-based economy organisation does not supply the balance sheets at 31 December of the previous year or not the respective contribution, the Superintendency shall liquidate it by applying to the contribution of the preceding period an increase corresponding to the average growth rate of the total assets of the sector entities with an additional adjustment of 5% (5%).

4. Where the institution has not been subject to inspection, surveillance and control throughout the period considered for the purpose of establishing the contribution, it shall be settled in proportion to the period during which the supervision has been carried out.

PARAGRAFO. When the organizations of the solidarity economy present a total of assets less than one hundred million pesos ($100,000,000), the Superintendence of the Solidarity Economy will refrain from making the collection, respective. The absolute value indicated shall be adjusted annually and cumulatively from 1999, by applying the change in the weighted total consumer price index to the DANE.

TITLE IV.

RULES ON FINANCIAL ACTIVITY

CHAPTER I.

CONDITIONS FOR FINANCIAL ACTIVITY EXERCISE

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