Reformed The Law Establishing The Salvadoran Institute For Cooperative Development.

Original Language Title: REFÓRMASE LA LEY DE CREACIÓN DEL INSTITUTO SALVADOREÑO DE FOMENTO COOPERATIVO.

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR

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DECREE NO 69

THE LEGISLATIVE ASSEMBLY OF THE REPUBLIC OF EL SALVADOR,

CONSIDERING:

I.-That Art. 114 of the Constitution of the Republic states that the State

will protect and promote Cooperative Partnerships, facilitating its organization, expansion and financing.

II. Legislative Decree No 560 dated 25 November 1969, published in the Official Journal No 229, It took N ° 225, from December 9 of the same year, the Law of Creation of the Salvadoran Institute of Promotion was issued

Cooperative.

III.-That the Cooperative Associations, at present, have demonstrated their

ability to have an impact on effective support to the country's socioeconomic stability, as real companies that reach an important contingent of the population and a wide diversity of economic sectors, producing goods

and services, through associativity with non-profit purpose.

IV.-That in congruence with the world perspective, of recognition to the role of the

Cooperative associations in economic activity and social inclusion, it is important to promote the improvement in their organization, operation and control, as well as to facilitate the access to the Cooperative Associations to the different

available business economic programs that are driven through the Public Policy of the Government of the Republic.

V.-That under the above considerations, it is necessary to reform some of the provisions contained in the Law of Creation of the Salvadoran Institute of Cooperative Development, in order to strengthen the rectory of the institution in its functions of promotion and control of the Associations

Cooperatives.

BY TANTO,

in use of its Constitutional powers and on the initiative of the President of the Republic, through the Minister of Economy.

DECRETA the following:

REFORMS TO THE LAW OF CREATION OF THE SALVADORAN INSTITUTE OF COOPERATIVE ENCOURAGEMENT

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Art. 1.-Reform in Art. 2 (h), as follows:

" h) Issue general rules and guidelines for cooperative activity, in particular the

relating to administration, financial and accounting aspects, and legislation applicable to Cooperative Partnerships in order to promote their organisation and operation. "

Art. 2.-Reform in Art. 4 (b), ordinal 2 °, as follows;

" 2 ° Preparation of statutes, regulations, accounting standards and any other instrument

required for the constitution, organization and administrative control of the Cooperative Partnerships. "

Art. 3.-Replace Art. 27, by the following:

" Art. 27.-The economic resources with which the Institute will operate, will be included in the

General Budget of the State in the Economy Ramo, taking into consideration the need to encourage private investment and encourage the associations Cooperatives. "

Art. 4.-This Decree shall enter into force eight days after its publication in the Official Journal.

GIVEN IN THE BLUE HALL OF THE LEGISLATIVE PALACE: San Salvador, at the twenty-nine days of July of two thousand fifteen.

LORENA GUADALUPE PEÑA MENDOZA, PRESIDENT.

GUILLERMO ANTONIO GALLEGOS NAVARRETE, ANA VILMA ALMASEZ DE ESCOBAR, FIRST VICE PRESIDENT. SECOND VICE-PRESIDENT.

JOSÉ SERAFIN ORANTES RODRÍGUEZ, NORMAN NOEL QUIJANO GONZÁLEZ,

THIRD VICE-PRESIDENT. FOURTH VICE-PRESIDENT.

SANTIAGO FLORES ALFARO,

FIFTH VICE PRESIDENT.

GUILLERMO FRANCISCO MATA BENNETT, DAVID ERNESTO REYES MOLINA,

FIRST SECRETARY. SECOND SECRETARY.

MARIO ALBERTO TENORIO GUERRERO, REYNALDO ANTONIO LÓPEZ CARDOZA,

THIRD SECRETARY. FOURTH SECRETARY.

JACKELINE NOEMI RIVERA AVALOS, JORGE ALBERTO ESCOBAR BERNAL,

FIFTH SECRETARY. SIXTH SECRETARY.

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ABILIO ORESTES RODRÍGUEZ MENJÍVAR, JOSÉ FRANCISCO MERINO LÓPEZ, SEVENTH SECRETARY. EIGHTH SECRETARY.

CASA PRESIDENTIAL: San Salvador, at the eighteen days of August of the year two thousand fifteen.

PUBESCOSE,

Salvador Sánchez Cerén, President of the Republic.

Tharsis Salomon López Guzmán, Minister of Economy.

D. O. No. 149

Took No. 408 Date: August 19, 2015

SP/adar 14-09-2015

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