Reformed The Law Establishing The Salvadoran Institute For Cooperative Development.

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

Read the untranslated law here: http://www.asamblea.gob.sv/eparlamento/indice-legislativo/buscador-de-documentos-legislativos/reformase-ley-de-creacion-del-instituto-salvadoreno-de-fomento-cooperativo-insafocoop/archivo_documento_legislativo



1 DECREE No. 69

THE LEGISLATURE OF THE REPUBLIC OF EL SALVADOR, CONSIDERING
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I. That Article 114 of the Constitution of the Republic establishes that the State
protect and promote the Cooperative Associations, facilitating their organization, expansion and financing.
II.- by Legislative Decree No. 560, dated November 25, 1969, published in the Official Gazette No. 229, Volume No. 225, December 9 of that year, issued Law establishment of the Salvadoran Cooperative Development Institute
.
III.- Cooperative Associations, today, have demonstrated their ability to influence
effective support to socio-economic stability, as real companies that reach a large contingent of the population and a wide diversity of economic sectors, producing
goods and services through the partnership with non-profit purpose. IV.- That
consistent with the global perspective, recognition of the role of
Cooperative Associations in economic activity and social inclusion, it is important to tend to the improvement in their organization, operation and control, as well as facilitate access to Cooperative Associations
business to different economic programs available that are driven through the Public Policy of the Government of the Republic.
V. By virtue of the foregoing, it is necessary to amend certain provisions included in the Act establishing the Salvadoran Institute for Cooperative Development, in the sense of strengthening the stewardship of the institution in its promotion and control functions
Cooperative Associations.
THEREFORE,
in exercise of its constitutional powers and initiative of the President of the Republic, through the Minister of Economy.
DECREES the following:
AMENDMENTS TO THE LAW OF CREATION OF THE INSTITUTE Salvadoran Cooperative Development

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Art. 1. reformed in Article 2, point h), as follows:.
"H) To issue general rules and guidelines of the cooperative activity, particularly
relating to the administration, financial aspects and accounting and law applicable to Cooperative Associations in order to promote their organization and functioning. "
Art. 2. reformed in Article 4, point b), the ordinal 2nd, as follows.;
"2nd Preparation of statutes, regulations, accounting standards and other instruments
necessary for the constitution, organization and administrative control of Cooperative Associations."
Art. 3. Art 27 hereby replaced by the following:.
"Art. 27.- The economic resources available to operate the Institute shall be entered in the General State Budget
in the Field of Economics, taking into consideration the need to encourage private investment and promote Cooperatives Associations. "
Art. 4. This Decree shall enter into force eight days after its publication in the Official Journal.
GIVEN IN THE BLUE ROOM OF THE LEGISLATIVE PALACE: San Salvador, this twenty-ninth day of July two thousand and fifteen.
LORENA GUADALUPE MENDOZA PEÑA, PRESIDENT.
GUILLERMO ANTONIO NAVARRETE GALLEGOS Ana Vilma Albanez de Escobar, FIRST VICE. SECOND VICE PRESIDENT.
ORANTES SERAFIN JOSE RODRIGUEZ, NORMAN NOEL GONZALEZ Quijano,
THIRD VICE. FOURTH VICE.
SANTIAGO FLORES ALFARO,
FIFTH VICE.
GUILLERMO FRANCISCO MATA BENNETT, DAVID REYES ERNESTO MOLINA,
first secretary. Second Secretary.
MARIO ALBERTO GUERRERO TENORIO, REYNALDO ANTONIO LOPEZ Cardoza
Third Secretary. Fourth secretary.
JACKELINE AVALOS NOEMI RIVERA, JORGE ALBERTO ESCOBAR BERNAL,
QUINTA Secretariat. SIXTH SECRETARY.

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ABILIO Orestes MENJIVAR RODRIGUEZ, JOSE FRANCISCO LOPEZ MERINO, seventh Secretary. EIGHTH SECRETARY.
PRESIDENTIAL HOUSE: San Salvador, on the eighteenth day of August of the year two thousand and fifteen.
PUBLISHED,
Salvador Sanchez Ceren, President of the Republic.
Tharsis Solomon Guzman Lopez, Minister of Economy.

Tomo OJ No. 149 No. 408 Date: August 19, 2015
SP / Adar 14/09/2015
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