Act To Regulate The Activities Of Cooperative Societies Of Savings And Loan

Original Language Title: Ley para Regular las Actividades de las Sociedades Cooperativas de Ahorro y Préstamo

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Law to regulate the Activities of the Cooperative Savings and Loan Societies

LAW TO REGULATE THE ACTIVITIES OF COOPERATIVE SAVINGS AND LOAN SOCIETIES

Official Journal of the Federation on August 13, 2009

Latest Reform Published in the DOF April 28, 2014

On the sidelines a seal with the National Shield, which reads: United Mexican States.-Presidency of the Republic.

FELIPE DE JESUS CALDERÓN HINOJOSA, President of the United Mexican States, to its inhabitants known:

That the Honorable Congress of the Union, has served to address the following

DECREE

"THE GENERAL CONGRESS OF THE MEXICAN UNITED STATES, D E C R E T A:

THE LAW IS EXPECTED TO REGULATE THE ACTIVITIES OF COOPERATIVE SAVINGS AND LOAN SOCIETIES AND REFORM, ADD AND REPEAL VARIOUS PROVISIONS OF THE LAW GENERAL OF COOPERATIVE SOCIETIES, OF THE LAW OF SAVINGS AND POPULAR CREDIT, OF THE LAW OF THE NATIONAL BANKING AND SECURITIES COMMISSION AND OF THE LAW OF CREDIT INSTITUTIONS.

ARTICLE FIRST.- The following is issued:

LAW TO REGULATE THE ACTIVITIES OF COOPERATIVE SAVINGS AND LOAN SOCIETIES

TITLE FIRST

GENERAL PROVISIONS

Single Chapter

Article 1.- This Law is of public order, social interest and general observance throughout the national territory. This Law recognizes that in terms of Article 25 of the Political Constitution of the United Mexican States, the Cooperative Societies of Savings and Loan are members of the social sector of the economy, and it has as its object:

I. Regular, promote and facilitate the collection of funds or monetary resources and their placement by loans, credits or other operations by the Cooperative Savings and Loan Societies with their Partners;

II. Regular, promote and facilitate the activities and operations of the latter, their healthy and balanced development;

III. Protect the interests of savers, and

IV. Establish the terms in which the State will exercise the powers of supervision, regulation and sanction, in terms of this Law.

Article 2.- For the purposes of this Law:

I. Commission: to the National Banking and Securities Commission;

II.    Committee for the Protection of Savings Cooperative: to the body of the Protection Fund in charge of administering the deposit insurance account of that fund, which is constituted in accordance with the provisions of Title IV of this Law;

III.   Auxiliary Supervision Committee: to the body of the Protection Fund in charge of exercising the auxiliary supervision of the Cooperative Savings and Loan Societies in terms of this Law;

IV.    Technical Committee: to the governing body of the Protection Fund referred to in this Law;

V.     Confederation: to the Confederation referred to in the General Law of Cooperative Societies;

VI.    Federations: in singular or plural, to the Federations referred to in the General Law of Cooperative Societies;

VII. Protection Fund: to the trust constituted in accordance with the provisions of Title IV of this Law;

VIII.            Capitalization level: to the ratio of the net capital of the Cooperative Savings and Loan Societies to the requirements of capitalization by credit and market risks, according to the provisions of the general character issued by the Commission in terms of Article 31 (VI) of this Law;

IX.    Secretariat: to the Secretariat of Finance and Public Credit;

X.     Sociedad o Sociedad Cooperativa de Ahorro y Prestamo: in singular or plural, to the companies constituted and organized under the General Law of Cooperative Societies, regardless of the trade name, reason or social denomination that adopt, that they aim to carry out savings and loan operations with their Partners, and those who are part of the Mexican financial system with the character of members of the social sector without speculative encouragement and recognizing that they are not financial intermediaries for profit;

XI.    Partner: in singular or plural, to the natural or moral persons who participate in the social capital of the Cooperative Savings and Loan Societies;

XII. UDI: to the unit of account called "Investment Unit" established in the " Decree establishing the obligations that may be denominated in Investment and Reform Units and adding various provisions of the Fiscal Code of the Federation and the Income Tax Law " published in the Official Journal of the Federation on April 1, 1995, as amended or added time in time, and

XIII.            Rural area, in plural or singular, to those areas of the Mexican Republic that comply with the requirements in terms of territory, density and productive activities to be determined by the Commission by means of general provisions.

Article 3.- words box, popular box, savings box, cooperative case, solidarity box, community box, rural box, financial cooperative, cooperative savings and credit, savings and loan cooperative or others that express similar ideas in any language, may not be used in the name, denomination or social reason of moral persons and establishments other than Cooperative Societies Savings and Loan.

Except for the application of the above, to the savings banks mentioned in the labor legislation, which are not subject to the provisions of this Law, the Federations and Confederations referred to in the General Law of Cooperative Societies, as well as to persons with the authorisation of the Commission to use such terms.

Article 4.- The Savings and Loan Cooperative Societies shall be exempt from the provisions of the first paragraph of Article 103 of the Law of Credit institutions and, as a result, may collect monetary resources from their Partners in accordance with the provisions of the V fraction of that article.

Article 4 Bis. The partners must prove their identity and ratify their will to constitute the cooperative society in terms of what the Law has in effect General of Cooperative Societies, and of being his/her the signatures or fingerprints that they work in the constitutive act, exclusively before the public fedatere.

Article 5.- As not provided for in this Law, the subjects of this Law shall be applied to them in an additional manner and in the following order:

I.      The General Law of Cooperative Societies.

II.    Federal civil legislation.

III.   The Federal Law of Administrative Procedure in its Third A Titles, concerning the regulatory improvement, and Sixth, with respect to the processing of the resources referred to in this Law.

IV.    The Tax Code of the Federation regarding the updating of fines.

V.     The practices and practices prevailing among the Cooperative Savings and Loan Societies.

Legal acts to be held in contravention of the provisions of this Law or the provisions of this Law and the other administrative acts issued by the Commission, shall give rise to the imposition of the appropriate administrative and criminal penalties, without any such contraventions resulting in the nullity of the acts, in the protection of third parties in good faith, unless this Act expressly provides for otherwise.

Article 6.- The Federal Executive, through the Secretariat, shall be the body responsible for interpreting the provisions of this Law for administrative purposes. in general, for all the subjects covered by it.

Likewise, in the terms of section VII of Article 116 of the Political Constitution of the United Mexican States, the Federal Government, through the Secretariat, may conclude agreements with the Federative Entities, in order to enable them to carry out the functions agreed upon in order to comply with this Law, as well as to establish programmes and actions to promote the coverage of the services offered by the Cooperative Savings and Loan Societies under cover of this Law.

To this effect, the Secretariat in the field of its competence, will be able to promote the participation of the sector of the Cooperative Societies of Savings and Loan in order to facilitate access to these programs.

TITLE SECOND

OF SAVINGS AND LOAN COOPERATIVE SOCIETIES

Chapter I

From the registry

Article 7.- The Protection Fund, through the Auxiliary Oversight Committee, will keep a register of Cooperative Savings and Loan Societies, which will be The information referred to in Article 9 of this Law shall be entered and entered in it.

Registration will be carried out by assigning electronic folders for each Cooperative Savings and Loan Society.

The Protection Fund should also provide the information contained in the Register of Cooperative Savings and Loan Societies to the Commission with the periodicity and through the means available to it in general provisions.

In addition, the Protection Fund shall make available to the general public the information relating to the register referred to in this Article. Article on your e-page on the worldwide network "Internet".

Article 8.- The Cooperative Savings and Loan Societies shall request their registration in the register referred to in Article 7 above, within 5 natural days following their registration in the Public Registry of Commerce of the corresponding registered office.

The registration must be obtained from the Auxiliary Supervision Committee. For such purposes, the Federations may act as interveners of the Cooperative Savings and Loan Societies to comply with the said registration.

In the latter case, the Federations that act as interveners, will be responsible for the registration information presented by the Cooperative Savings Societies. and Loan.

The Auxiliary Supervisory Committee shall inform the Commission of the registration of the Cooperative Savings and Loan Societies in the form and terms which the Commission will establish by means of general provisions.

The Auxiliary Oversight Committee will cancel the registration of the Cooperative Savings and Loan Companies with Operating Levels I to IV whose authorization to continue carrying out savings and loan operations is revoked by the Commission; of the basic level savings and loan companies which have been assessed in category D for their dissolution and liquidation or for which they agree its dissolution and liquidation.

Article 9.- In the electronic record of the register referred to in Article 7 above, corresponding to each Cooperative Savings and Loan Company, record the following register seats:

I. The social name.

II.    The registered address.

III.   The data relating to its constitution.

IV.    The number of Partners.

V.     The amount of assets.

VI.    The place or places where their operations are carried out.

VII. The name of their administrators, as well as top managers and officials.

VIII.            The appropriate level of operations. In the case of Cooperative Savings and Loan Societies with Operating Levels from I to IV, such information shall be provided once those are assigned by the Commission in accordance with this Law.

IX.    Where applicable, name and address of the Federation to which you are affiliated.

X.    Where appropriate, the cause by which the record is canceled.

XI.   Other log records.

The Auxiliary Supervisory Committee shall update the information in the register on a quarterly basis and, where appropriate, half-yearly, on the basis of the information provided to them. provide the Cooperative Savings and Loan Societies in terms of the provisions of Articles 15 and 34 of this Law.

The Auxiliary Oversight Committee will also have to publish on its website the worldwide network called "Internet", a listing of the companies. Savings and Loan cooperatives that are supervised by the Commission and have the protection of the deposit insurance account that the Protection Fund constitutes as provided for in this Law, as well as those for which level of basic operations, are not found in such assumptions.

Chapter II

From the authority

Article 10.- The Cooperative Savings and Loan Societies that have a total amount of assets equal to or greater than the national currency equivalent of 2 ' 500,000 UDIS shall require authorization to carry out or continue to carry out savings and loan operations which it is responsible to grant to the Commission, in accordance with the provisions laid down in this Law, after a favourable opinion has been delivered. by the Committee on Auxiliary Supervision. By their very nature the authorisations will be non-communicable. For this purpose, the Commission will assign to those companies a level of transactions between I and IV, as provided for in Article 18 of this Law.

The Cooperative Savings and Loan Companies, in order to obtain the authorization of the Commission referred to in the preceding paragraph, shall submit their application to the Committee of Auxiliary Supervision, who shall draw up an opinion on its provenance.

The Commission shall resolve the requests for authorisation accompanying the favourable opinion of the Auxiliary Supervisory Committee. The Auxiliary Supervisory Committee shall forward the requests to the Commission, accompanying its opinion and in turn the Commission shall submit its resolution to the Auxiliary Supervisory Committee and the applicant companies.

The Auxiliary Supervisory Committee will have a period of 90 calendar days to draw up its opinion and the Commission will have a period of 120 calendar days to issue a decision on the applications for authorisation submitted to it. Such time limits shall begin to count, respectively, from the date on which applications are submitted to the Auxiliary Supervisory Committee, and received by the Commission with all the information and documentation referred to in Article 11 of this Law.

In the event that the Company receives an unfavorable opinion from the Auxiliary Oversight Committee, because it does not comply with the requirements set forth in this Law, it may to request the review of the opinion within 90 calendar days from the date on which the opinion has been notified to the Auxiliary Supervisory Committee itself, which may ratify or amend it within the following 60 days natural. If the unfavourable opinion is ratified, the Company may request the review of its application to the Commission, which must be resolved within the following 120 calendar days. Companies shall have a period of 15 working days from the date on which they are notified of the ratification of the unfavourable opinion, in order to submit to the Commission directly that request for review. If the Commission makes a negative decision on the request for a review submitted directly by a company which has obtained an unfavourable opinion, the Commission shall communicate its decision to the Company within the period mentioned.

The Commission shall be deemed to have a negative effect on the application for authorisation, if it does not communicate the contrary to the Company, as well as to the Supervisory Committee. Auxiliary, within the periods mentioned in the previous two paragraphs. At the request of the person concerned, a record of such a circumstance shall be issued within 2 working days following the submission of the application for the relevant constancy to the competent authority to be resolved, in accordance with the Internal Rules of Procedure of the Commission. If the evidence referred to above is not issued within the time limit, the liability to be applied shall be determined.

Any requirement for information or documentation to be made by the Commission or the Committee on Auxiliary Supervision of the requesting Company shall suspend the calculation of the time limit. with which the Auxiliary Supervisory Committee and the Commission are to issue its opinion or resolution, as the case may be. This time limit will start to be computed again, from the time the required information or documentation is received.

The Commission shall publish the authorisations and the amendments thereto in the Official Journal of the Federation. For their part, the Cooperative Societies must register such authorizations or modifications in the Public Registry of Commerce that corresponds, at the latest within the sixty calendar days following those of their notification, and must submit to the Commission the respective testimony within a period of fifteen calendar days after the registration. Once the notification of the corresponding authorization has taken effect, the Cooperative Societies of Savings and Loan will apply in full the normative regime established in this Law and in the provisions of it emanen.

The Committee on Auxiliary Supervision in its opinion will propose to the Commission a level of operations, from I to IV, which could be allocated to the Company, if any. Where the Commission grants the said authorisation, it shall classify the Cooperative Savings and Loan Company by assigning one of the Levels of Operation I to IV, in accordance with Article 18 of this Law.

The Savings and Loan Cooperative Societies, once authorised, may, after obtaining the opinion of the Auxiliary Supervisory Committee, request the Commission to change the the level of operations that have been authorised for them.

Article 11.- The authorization request must be accompanied by the following:

I.      The constitutive bases or the draft amendment to these, which shall adhere to the provisions that the General Law of Cooperative Societies and this Law establish.

II.    The general programme of operation, which will enable the Commission to assess whether the Company will be able to meet its social object adequately. This programme shall contain at least:

a) The regions and squares in which you operate and intend to operate.

b) A feasibility study of the Society.

c) The bases for the application of surpluses.

d) The bases for your internal organization and control.

III.   The relationship of the administrators, principal managers and persons who will integrate the bodies referred to in this Law and the General Law of Cooperative Societies.

IV.    The indication of the minimum capital, which shall be determined in accordance with the provisions of general character referred to in Article 31 (I) of this Law, as well as the proposed level of operations allocate the Commission.

V.     The documentation certifying the economic solvency of the Company, which must verify the ability to comply with the general provisions referred to in this Law.

VI.    The accreditation of directors and senior officials to meet the requirements laid down by their constituent bases.

VII. The other documentation and information which, where appropriate, is established by the Commission by means of general provisions.

The Commission shall have the power to verify that the application referred to in Article 10 above and this Article complies with the provisions of this Law for the purposes of this Law. the Commission will have the power to corroborate the veracity of the information provided, including, with agencies and entities of the Federal Public Administration, as well as the other federal authorities, who must provide the related information.

The Commission when notifying the granting of the respective authorization, may also issue a stamp to be displayed by the Cooperative Societies with Level of Operations I to IV, in terms of what the Commission itself has in general provisions. In any case, the falsification of the reference stamp shall be punished in accordance with the provisions of the applicable criminal laws.

Article 12.- The Savings and Loan Cooperative Societies with assets below the national currency equivalent of 2 ' 500,000 UDIS may apply for authorization to operate with a different level of operations than the basic level. The application for authorisation shall be submitted to the Commission on the same terms as provided for in Article 10 of this Law, and shall be accompanied by the information and documentation referred to in Article

.

Chapter III

Of the operations

First Section

From the base operations level

Article 13.- The Savings and Loan Cooperative Societies whose total amount of assets does not exceed the equivalent national currency limit to 2 ' 500,000 UDIS have a basic level of operations and do not require the authorisation of the Commission to carry out savings and loan operations.

Without prejudice to the foregoing and for all legal purposes, it will only be considered as a Cooperative Savings and Loan Company with a basic operating level, a that cooperative society that is registered in terms of Article 7 of this Law, so that the companies that do not obtain their registration and those to which they are cancelled, will not have the character of the Cooperative Society of Savings and Loan with basic operations level.

The public servant before whom the Partners have accredited their identity and ratified their will to constitute the cooperative society and to be their own the signatures or the Digital fingerprints which are in the constitutive act shall give notice to the Auxiliary Supervisory Committee no later than 20 working days after such acts have been carried out.

Article 14.- The Savings and Loan Cooperative Societies with basic operations level will only be able to perform the following operations:

I.      Receive deposits of money in sight, savings, in time, removable on pre-established and removable days with prior notice, from their Partners.

Previous operations may be performed with minors, in terms of the common legislation applicable, provided that their parents or guardians are Partners.

Such a requirement shall not be required in the case of operations carried out under programmes to encourage the savings of minors and the respective balances do not exceed the national currency equivalent of 1,500 UDIS per depositor.

The deposits referred to in this fraction shall not confer on minors the character of Partners. Once depositors have the capacity to hold such operations, they may choose to become Partners of the Cooperative Savings and Loan Company with the basic level of operations in question or to request the delivery of their resources, once the deadlines for the respective deposits are due.

II.    Grant loans to their Partners.

III.   Transmission of money with its Partners, provided that in the performance of such operations are subject to the applicable provisions in that matter, as well as that one of the parties, either the payer or the beneficiary, is a Partner of the respective Cooperative Savings and Loan Company.

IV.    Receive credits from national or foreign financial institutions, international agencies, as well as institutions from the Public and Federal or State Administration and public trusts.

V.     Make the distribution and payment of government products, services, and programs.

VI.    The other operations necessary for the performance of its social object, identified in fractions I to V, above.

The Savings and Loan Cooperative Societies of basic operations level will be prohibited from receiving in guarantee of the loans that they grant to their Partners, certificates of contribution representative of their share capital.

In no case will the Cooperative Companies of Savings and Loan of the basic level of operations be able to authorize to their Partners the issue of cheques to their position, in terms of the Title First Chapter IV of the General Law on Credit Titles and Operations.

Article 15.- To the Cooperative Savings and Loan Societies with basic operations level, the following will apply:

I. They will be evaluated by the Committee on Auxiliary Supervision semestrally according to the level of Capitalization with which they have and the attachment they have to the (a) provisions for financial reporting and capitalisation requirements, issued by the Commission. These evaluations shall be carried out with information in June and December of each year, and shall be published during the following months of September and March, as appropriate, and the provisions of the said provisions shall specify the following: form and deadlines for the delivery of the information.

As a result of such an assessment, the Basic Operating Level Savings and Loan Societies will be classified in one of the categories. following:

a) Category A. Those companies that present a Capitalization Level equal to or greater than 150 percent and whose financial information complies with the rules for the preparation and presentation of the basic financial statements established by the Commission, and therefore the risk of loss of equity of its partners is low.

b) Category B. Those companies that present a Capitalization Level equal to or greater than 100 percent and less than 150 percent and whose financial information complies with the rules for the elaboration and presentation of the basic financial statements determined by the Commission, and therefore the risk of loss of equity of its partners is moderately low.

c) Category C. Those societies that present a Capitalization Level equal to or greater than 50 percent and less than 100 percent or having a level of In the case of the Commission, a total of more than 100% of capital is not included in the rules for the production and presentation of the basic financial statements determined by the Commission, which is why they are companies at risk of falling into insolvency if they do not immediate corrective measures, in order to reduce the risk of loss of assets of its partners.

d) Category D. Those companies that present a Capitalization Level of less than 50 percent and:

i. that do not present their basic financial statements within the terms and terms that are set out in the provisions issued by the Commission or,

ii. in the case of companies classified in category C in accordance with section III of this Article, which do not present such states financial in the form that is also determined in the Commission's provisions.

These companies, in protection of the assets of their partners, should refrain from holding recruitment operations and initiating their dissolution and liquidation.

II. They must notify their general assembly of partners, the last classification that has been assigned to them, in the immediate session following the date on which the The Auxiliary Supervision Committee informs them of the result, except if they were classified in category C or D, in which case they must do so by the knowledge of that assembly not later than 30 days from the next day on which the notification of the result. In order to verify the above, the Cooperative Societies of Savings and Loan of level of basic operations, must send to the Committee of Auxiliary Supervision, copy of the call for the celebration of the General Assembly of the Partners and the minutes duly protocolised in which it has been reported on the particular subject, within 60 days of its conclusion.

III. Companies that accumulate two consecutive classifications in category C, shall be classified in category D for the protection of their savers. Similarly, companies which are in a recurring manner not complying with the obligations laid down in this Article and the other obligations contained in this Law may be classified in category D in the protection of their savers.

IV. The Cooperative Savings and Loan Societies with a level of basic operations, classified in category D, in protection of their savings Member States shall refrain from carrying out operations involving the collection of resources, from the day following the notification by the Commission in terms of Article 15 Bis of this Law.

Article 15 Bis.- The Auxiliary Supervisory Committee shall inform the Commission in writing in respect of the Cooperative Savings and Loan Companies with the level of basic operations which have been classified in category D within 10 working days following the one in which the company has notified such a classification to the company itself, to the effect that it publishes on its website a listing of the companies that have that category. The Auxiliary Supervision Committee shall also publish such a listing on its own website.

The Commission, once it becomes aware of the classification in category D of a Cooperative Savings and Loan Company with a basic level of operations, may to conduct research visits in accordance with the provisions of this Law, in order to confirm the information provided by the Auxiliary Oversight Committee, in which case, it may order its dissolution and liquidation, in terms of Article 83 of this Law.

Once the dissolution and settlement referred to in the preceding paragraph has been ordered, the Commission shall notify the Auxiliary Supervisory Committee of the effect of the cancellation of the registration of the company concerned.

Article 16.- The Cooperative Savings and Loan Societies with a basic level of operations that, after their constitution or registration, exceed the limit of assets as referred to in Article 13 above, may continue to carry out the operations referred to in Article 14 of this Law, subject to the provisions of this Section, provided that within 150 days of that in If the above situation is verified, submit to the Committee of Auxiliary Monitoring The request for authorization to operate with a level of operations other than the basic in terms of this Act.

To this effect, they may continue to carry out the operations referred to in Article 14 of this Law, until as long as the Commission resolves their request, provided that the be accompanied by a favourable opinion by the Auxiliary Supervisory Committee.

Article 17.- The Base-level Savings and Loan Cooperative Societies where there is a coincidence of one of the members of the Board of Administration, as well as, with the director or general manager, will be considered as a single Company, for purposes of the asset limit provided for in Article 13 of this Act.

Section Second

From Operation I to IV Levels

Article 18.- The Cooperative Savings and Loan Societies with Operation Levels from I to IV will be subject to the auxiliary oversight of the Auxiliary Supervision in the terms of this Act. In addition, those companies will be subject to the supervision of the Commission in terms of this Law, the Law of the National Banking and Securities Commission and the supervision regulation issued under this Law.

The Commission will issue general provisions for the operation of the Cooperative Savings and Loan Societies with Operational Levels from I to IV, determining the characteristics of such operations, their limits and the requirements for holding them in accordance with the level of operations corresponding to Article 19 of this Act.

The Commission will also issue general provisions laying down the criteria for allocating the operating levels of the I to the IV of each society. Savings and Loan Cooperative, which shall consider the amount of assets, in accordance with the following limits:

I. Level of Operations I.

Cooperative Savings and Loan Companies with an amount of total assets equal to or less than 10 million UDIS.

II. Level of Operations II.

Cooperative Savings and Loan Companies with an amount of total assets exceeding 10 million and equal to or less than 50 million UDIS.

III. Level of Operations III.

Cooperative Savings and Loan Companies with an amount of total assets over 50 million and equal to or less than 250 million UDIS.

IV. Level of Operations IV.

Cooperative Savings and Loan Companies with an amount of total assets over UDIS 250 million.

The general provisions referred to above by the Commission may be laid down for the determination of the level of operations of the I to IV, criteria other than those identified in the previous fractions, which consider the technical and operational capacity of the Cooperative Savings and Loan Societies.

Article 19.- The Cooperative Savings and Loan Societies, depending on the level of operations that correspond to them according to this Section, may perform the following operations:

I.      Cooperative Savings and Loan Societies with level of operations I:

a) Receive deposits of money in sight, savings, term, removable on pre-set and removable days with prior notice.

Previous operations may be carried out with minors, in terms of the applicable common law, provided that their parents or guardians are Partners.

The provisions of the preceding paragraph shall not be necessary in the case of operations carried out within the framework of programmes designed to promote the saving of minors and respective balances do not exceed the national currency equivalent of 1,500 UDIS per depositor.

The deposits referred to in this paragraph shall not grant to minors the character of the Partners of the Cooperative Society of Savings and Loan in question. Once depositors acquire the legal capacity to hold such operations, they may choose to become Partners of the Cooperative Savings and Loan Company or request the delivery of their resources, once the time limits are met. corresponding to the respective deposits.

Deposits made up of minors under the provisions of this paragraph shall be covered by the Protection Fund, in accordance with the provisions of the second paragraph of Article 54 of this Law.

b) Receiving loans and loans from domestic or foreign financial institutions, international agencies, institutions Federal or State public, public trusts, as well as their domestic and foreign suppliers.

c) Exorder and operate debit cards and rechargeable cards.

d) Receive the support of the Cooperative Savings Protection Committee, in terms of Article 55 of this Law.

e) Grant your warranty in terms of Article 55 of this Act.

f) Grant loans or credits to their Partners.

g) Grant credits or labor loans to your workers.

h) Grant to other Cooperative Savings and Loan Societies, after approval of the Technical Committee, liquidity loans, subject to limits and conditions which, by means of general provisions, lay down the Commission.

i) Discounting, giving in warranty or negotiating credit titles, and affecting the rights arising from the financing contracts that you make with your Partners, in terms of the provisions of Article 21 of this Law.

j) Constituting deposits in the view or term in credit institutions.

k) Make investments in government, banking, and investment company securities in debt instruments.

l) Receive or issue payment orders and transfers.

m) Fungir as a payment recipient for services on behalf of third parties, provided the above does not imply for the Cooperative Society of Savings and Loan the acceptance of direct or contingent obligations.

n) Make the purchase of foreign currency on your own account.

or) Distribute insurance to be formalized through accession contracts, on behalf of some insurance institution or insurance mutual society, duly authorised in accordance with the General Law of Mutual Insurance Institutions and Societies and subject to the provisions of Article 41 of the Act.

p) Distribute sureties, in terms of the provisions applicable to such operations.

q) Carry out the distribution and payment of government products, services, and programs.

r) Celebrate as a tenant, leasing contracts on computer, transportation and other equipment that are necessary for the fulfillment of your social object, and acquire the goods which are the subject of such contracts.

s) Celebrate lease contracts on movable and immovable property to achieve its object.

t) Make permanent investments in other societies, provided they provide them with ancillary, complementary or real estate services.

u) Acquire the movable and immovable property necessary for the realization of its object and dispose of it as appropriate.

v) Receive donations.

w) Accept commands and commissions from financial entities, related to their object.

x) The other operations required for the realization of your social object.

II.    Cooperative Savings and Loan Societies with level of operations II:

a) The operations noted in the above fraction I.

b) Perform financial factoring operations with or on behalf of their Partners.

c) Prestar security box services.

d) Offering the payroll and discount service.

e) Making the purchase of foreign currency on a self-account or third-party basis.

III.   Cooperative Savings and Loan Societies with level of operations III:

a) The operations identified in the previous fractions I and II.

b) Celebrate leasing contracts with their Partners.

c) Preserve cash and cash services.

IV. Cooperative Savings and Loan Societies with level IV operations:

a) The operations identified in the previous fractions I, II and III.

b) Assume obligations on behalf of third parties, based on credits granted, through the granting of acceptances, endorsements or endorsement of receivables.

c) Exorder credit cards based on current account credit opening contracts, to their Partners.

d) Grant discounts of all kinds, reimbursable in accordance with those of the passive operations they celebrate.

The Commission may authorise the Cooperative Savings and Loan Companies to carry out similar or related operations to those referred to in fractions I to IV of this Regulation. this Article, provided that they do not contravene the nature or object of the Cooperative Savings and Loan Societies.

The Commission may also authorise the Cooperative Savings and Loan Companies to carry out additional operations to those of the level of operations they have assigned to the Commission, provided they demonstrate to the Commission that they comply with the requirements set out in the general provisions.

The Cooperative Savings and Loan Companies will only be able to receive deposits from the Federal, State or Municipal Governments, either through their sectors central or parastatal, when they are located at the Levels of Operation III and IV, when such deposits are made for the purpose of allocating funds or funds for the promotion or financing of their Partners.

The Cooperative Savings and Loan Companies will be prohibited from receiving in guarantee of the loans they grant to their Partners, representative contribution certificates of its social capital.

In no case will the Cooperative Companies of Savings and Loan authorize their Partners to issue cheques in their position, in the terms that the Title has First Chapter IV of the General Law of Titles and Credit Operations. Also, the Cooperative Savings and Loan Societies will only be allowed to perform those operations that are expressly authorized to them.

Article 19a.- Cooperative Savings and Loan Societies with Operating Levels from I to IV may contract with third parties including other Societies Savings and Loan cooperatives with Operational Levels of the I to IV or financial institutions, the provision of services necessary for their operation, as well as commissions to carry out the operations referred to in Article 19 of this Law, compliance with the general provisions issued by the Commission National Banking and Securities, after agreement of its Governing Board.

The operations carried out by the commission shall be carried out in the name and on behalf of the Cooperative Savings and Loan Societies with which they hold the legal acts referred to in the first paragraph of this Article. In addition, the legal instruments to be documented by the committees should provide that the Cooperative Savings and Loan Societies will respond to the operations which the commission will take on behalf of these companies, even if they are carry out in terms other than those provided for in such legal instruments. The general provisions referred to in the first paragraph of this Article shall contain, inter alia, the following elements:

I.           The technical and operational guidelines to be observed for the performance of such operations, as well as to safeguard the confidentiality of the information of the users of the Cooperative Savings and Loan Societies and provide that the applicable provisions are complied with in the conclusion of such operations;

II.         The characteristics of natural or moral persons who may be hired by the Cooperative Savings and Loan Societies as third parties in terms of this Article. In the case of entities of the Federal or State Public Administration, general provisions may include only those expressly authorized by their law or regulation to provide the services or commissions in question;

III.        The requirements regarding the operational and control processes that the Societies must require from the third parties;

For such purposes, the Cooperative Savings and Loan Companies with Levels of Operation of the I to IV, may receive deposits of money from its agents, as well as grant loans or credits to such third parties, solely for the purpose of carrying out the operations subject to the commission in question.

IV.         The type of operations which may be carried out through third parties, with the power of the Commission to indicate the type of operations in which it will be required for its prior authorisation;

V.          The contracts for the provision of services or commissions which the companies are required to deliver to the Commission, as well as the form, conditions and time limits for such delivery;

VI.         The limits applicable to transactions that may be carried out through third parties on behalf of the Cooperative Society of Savings and Loan, in any event, in respect of the operations provided for in point (a) of the Section I of Article 19 of this Law:

a) Individual, by type of operation and partner, which will not exceed by comisionist a daily equivalent amount in national currency to 1,500 UDIS, for each type of investment and account, in the case of cash withdrawals, as well as the national currency equivalent of 4,000 UDIS in respect of cash deposits, and

b) Attaché, which shall not exceed by comisionist of a monthly amount equivalent to the 50% of the total amount of the operations carried out in the period by the Company concerned.

The limit referred to in this paragraph will be sixty-five percent, during the First eighteen months of operation with the commission. For the purposes of the above, a business group is understood as a single commission.

For the purposes of the preceding paragraph, the business group shall mean the set of persons These are organized under schemes of direct or indirect participation of the social capital, in which the same society maintains the control of these moral people. They shall also be considered as a business group to financial groups constituted under the Law for Regular Financial Pools.

The celebration of the operations that may be carried out through third parties for account of the own Cooperative Society of Savings and Loan referred to in point (a) of section I of Article 19 of this Law shall be subject to the authorization referred to in section IV of this article.

The limits referred to in this fraction shall not apply when:

i) The third is a Federal, State, or Federal Public Administration entity Municipal;

ii) Third parties with whom they are engaged are credit institutions, exchange houses, Popular Financial Companies or Cooperative Savings and Loan Companies, in the latter case with the exception of those that have a basic level of operations.

VII.       The policies and procedures to be used by the Cooperative Savings and Loan Societies to monitor the performance of third parties who are employed, as well as the performance of their contractual obligations, among which the obligation of such third parties to provide the National Banking and Securities Commission, and the external auditors of the Companies, at the request of the companies, the records, the information and the technical support relating to the services, shall be provided for provided to the Cooperative Savings and Loan Company;

VIII.      The operations and services that the Cooperative Savings and Loan Societies will not be able to agree to be provided exclusively by third parties, and

IX.         The characteristics of the register which must constitute the Cooperative Savings and Loan Societies in respect of the service providers or commission agents who contract, which must be at the disposal of the National Commission Banking and Securities for your query.

The provisions of Article 69 of this Law shall also apply to the third parties referred to in this Article, as well as to the representatives, managers and employees of such third parties, even if they cease to work or provide their services to such third parties.

The National Banking and Securities Commission, prior to the right of hearing to be granted to the Cooperative Savings and Loan Company, may order the partial suspension or the total, temporary or final, of the provision of the services or commissions through the third party concerned, where the provisions referred to in this Article are not complied with or the operational continuity of the Company may be affected Savings and Loan Cooperative or in protection of the interests of the public. The above, unless the Commission itself approves a regularisation programme which meets the requirements which are set out in the general provisions referred to in this Article.

The National Banking and Securities Commission will issue directly to the Cooperative Savings and Loan Companies and the service providers or commission refers to this article, through such companies, the requirements of information, including books, records and documents, as well as, where appropriate, the observations and corrective measures that result from the supervision that it carries out on the occasion of the activities carried out by the companies in question of service providers or commissions as provided for in this Article, in order to ensure the continuity of the services that the Societies provide to their partners, the integrity of the information and the attachment to that established in this Article Law.

The Commission shall also be empowered, at all times, to carry out acts of supervision, inspection and surveillance in respect of service providers or commission agents. that the Companies contract in terms of this article, as well as to practice inspections to the third parties that contract the Cooperative Societies of Savings and Loan with respect to the activities contracted, or to order the Societies to carry out audits of such third parties, the latter being obliged Society itself to give a report to the Commission on this. The powers of supervision, inspection and surveillance referred to in this paragraph in respect of service providers or commission agents may also be exercised in an auxiliary manner by the Committee on Auxiliary Supervision to which it refers. this Act.

The Commission must specify the subject matter of the inspections or audits, which must be limited to the subject of the contract service and compliance with the provided for in this Law and the provisions of it. To this effect, the Companies must agree on the contracts through which the provision of these services or commissions is formalized, the express stipulation of the third party who agrees to abide by the provisions of this Article.

Article 19 Bis 1.- The hiring of the services or commissions referred to in Article 19 Bis of this Law shall not exempt the Cooperative Savings and Loan, or to its directors, fiduciary delegates, employees and other persons who occupy a job, position or commission in the Company, of the obligation to observe the provisions of this legal order and the provisions of a general emanating from this one.

Article 19 Bis 2.- When a person helps to help partners in Cooperative Savings and Loan Companies in carrying out their own operations, at no time can you:

I.           Carry out such operations on a self-employed basis;

II.         Determine the deadlines or rates of the operations in which you intervene;

III.        Get price or rate differentials for operations that you intervene in, or

IV.         In general, carry out activities that require authorization from the Federal Government to operate with the character of a financial institution of any kind.

Operations will invariably be documented in the name of the respective partner.

Persons who offer assistance to partners of the Cooperative Savings and Loan Societies under a mandate or commission in terms of this Article shall be required to inform the partner, at the time of providing the service, that they are not authorized by the Federal Government or the Cooperative Savings and Loan Companies themselves to assume obligations in the name and on behalf of the latter and that they do not they are supervised and regulated by the financial authorities, which shall be included in its advertising or propaganda and in the contract or in any other document on which the respective charge is recorded.

The Cooperative Savings and Loan Companies that establish relationships or business ties, in fact or in law, with some third party for the mass receipt of cash resources, involving the collection of resources of the partners of the Cooperative Societies of Savings and Loan or payment of credits in favor of the latter, they will have to celebrate with such third parties, a contract of mercantile commission for these act at all times in front of the public, such as its agents according to the point made in Article 19 Bis of this Law.

Article 20.- The Partners of the Savings and Loan Cooperative Societies with Operating Levels I to IV that hold deposit or investment accounts and (a) the current account claims referred to in points (a) and (d) of Part IV of Article 19 of this Law may authorise third parties to make cash arrangements from those accounts. To this end, the Cooperative Savings and Loan Societies shall have the authorization of the holder or holders of the account.

Also, the Partners of the Cooperative Savings and Loan Societies with Levels of Operation I to IV will be able to direct the payment of goods and services in the accounts of deposit referred to in point (a) of section I of Article 19 of this Law. The Partners may authorize the charges directly to the Cooperative Savings and Loan Company in question or to the suppliers of the goods or services.

Cooperative Savings and Loan Companies with Operating Levels from I to IV will be able to charge corresponding amounts to those accounts, provided that when:

I.      Have the authorization of the Partner in question, or

II.    The account holder or holders authorize the charges by means of the provider and this, through the credit institution or the Cooperative Savings and Loan Company that offers the respective collection service, instructs the Society Savings and Loan Cooperative that maintains the deposit corresponding to the charges. In this case, the authorization may be held by the supplier.

In the event that the Partner whose account has been loaded in terms of the previous paragraph, object to that charge as inadmissible within ninety days natural following the date on which it was made, the Cooperative Society of Savings and Loan with Levels of Operation of the respective IV shall pay him to the account in question, no later than the immediate working day following that where the objection is made, the whole of the charges which have resulted imsourced.

For the purposes of complying with the obligation referred to in the preceding paragraph, the Cooperative Savings and Loan Company with Operating Levels from I to IV shall be The right to charge the account to the supplier of the goods or services, the corresponding amount. Where the account of the supplier of goods or services is carried out by a Cooperative Savings and Loan Company with Levels of Operation from the I to the Fourth, or a credit institution, it shall return to the Cooperative Society of Savings and Loan with the Operating Levels of the I to the IV in which the Partner has the resources in question, being able to charge to the account of the supplier of the respective goods or services the amount of the claim. For these purposes, the Cooperative Savings and Loan Company with Operating Levels from I to IV and the provider must agree to the terms and conditions that will be applicable.

The Cooperative Savings and Loan Companies with Operating Levels from the I to the IV will have to agree with the suppliers the procedure to carry out the charges to refers to the preceding paragraph, taking care at all times that they do not cause damage to the assets of these Cooperative Societies.

At any time, the Partner will be able to request the cancellation of the home address to the Cooperative Society of Savings and Loan that takes the account, no matter who retain the authority of the corresponding charges. Such cancellation shall take effect within the time limit laid down by the Commission in the general provisions referred to in this Article, which may not exceed 10 working days following that in which the Cooperative Society Savings and Loan are received, so from that date you will have to reject any new charges in favor of the supplier.

The authorizations, instructions and communications referred to in this Article may be carried out in writing by autograph or by electronic means, optical or any other technology previously agreed by the parties.

Article 21.- The Cooperative Savings and Loan Companies with levels of operations from I to IV may assign or discount their credit portfolio with trusts constituted by the Federal Government for economic promotion, as well as with other Cooperative Savings and Loan Societies with levels of operations from I to IV, and with the Protection Fund without any restriction.

Cooperative Savings and Loan Companies with Operating Levels from I to IV will not be subject to the provisions of the first paragraph of Article 69 of this Law. with respect to the information related to the assets referred to below, where it is provided to persons with whom the following transactions are negotiated or concluded:

I.      Loans or loans that are to be transferred or discounted, or

II.    The disposal of its portfolio or other assets, in the case of the cases provided for in Article 85 (I) to (III) of this Law. The prior authorisation of the Commission shall be obtained in order to make known the respective information.

During the negotiation processes referred to in this Article, participants shall be required to keep due confidentiality on the information they have access to reason for the same.

However, the Technical Committee, after the Commission's opinion, may in exceptional cases authorise the Cooperative Savings and Loan Companies with I to the IV level of transactions that give or discount your credit portfolio with persons other than those referred to in the first paragraph of this Article, where your financial situation so requires.

Third Section

Of Common Provisions

Article 22.- The Secretariat will develop the sectoral programs for the development of the Cooperative Savings and Loan Societies and the Federations, in the framework of the applicable regulation, taking into account the objectives and criteria set out in this Law.

To this end, the Secretariat in the field of its competence will promote the participation of the sector of the Cooperative Savings and Loan Societies in order to facilitate the access to these programs.

Article 23.- The Cooperative Savings and Loan Companies in the holding of active and passive operations or services shall adhere to the terms and the conditions which the governing bodies of the Society in question will approve, in accordance with the powers conferred on them in their constituent bases.

Such terms and conditions shall be of general application between the Partners that comply with the requirements for active and passive operation or services in question. The result of the implementation of the above, in the set of such operations, should not cause a detriment to the financial situation and viability of the Cooperative Society of Savings and Loan.

The Cooperative Savings and Loan Companies may not hold operations in which terms and conditions are agreed that depart from the provisions of this Article, they shall not be able to conduct operations other than those corresponding to their social object or the level of operations that correspond to them in terms of this Law.

Article 24.- The principal and the interests of the fetch instruments that do not have a due date, or that have them renewed in a manner automatic, as well as transfers due and unclaimed, which at 31 December each year, have not been moved by deposits or withdrawals during the last 10 years, counted from that date, the amount of which is not higher than the equivalent of two hundred days of daily general minimum wage in force in the Federal District, will prescribe in favour of the heritage of the Cooperative Society of Savings and Loan.

In any event, such a Company must give prior written notice to the Partner concerned, in a feisty manner, at the address of the respective file, thus as in a visible place of the offices of attention to the Partners of the Cooperative Society of Savings and Loan in question, 120 days in advance of the conclusion of the period foreseen by the previous paragraph.

Cooperative Savings and Loan Companies with operational levels I to IV will be required to notify the Commission of the compliance with this Article. within the first 2 months of each year. The Commission may verify compliance with the notice referred to in the preceding paragraph.

To the deposits referred to in Articles 14, part I, third paragraph and 19, part I, point (a), third paragraph, of this Law, the provided by this Article, on the basis that the depositors acquire the legal capacity to hold such operations.

Article 25.- Contracts or documents in which, where appropriate, the credits or loans granted by the Cooperative Savings and Savings Societies are recorded. Loan, together with the account statements certified by the accountant authorized by the Cooperative Savings and Loan Company, will be executive titles, without the need for signature recognition or any other requirement.

The statement of account certified by the accountant referred to in this Article shall make faith, unless proof to the contrary, in the respective judgments for the fixing of the balances resulting from the debtors ' liability.

Article 26.- The Cooperative Savings and Loan Societies will require the agreement of at least three-quarters of the members present. at the meetings of the Board of Directors, to approve the holding of operations with related persons.

It will be operations with related persons, those held by the Cooperative Savings and Loan Societies in which they are or may be liable to be responsible for the same, the people listed below:

I.      The members of the Board of Directors, the Supervisory Board and the Credit Committee or their equivalent, as well as the external auditors of the Cooperative Savings and Loan Company.

II.    Spouses and persons who have kinship with the persons identified in the previous fraction.

III.   It is understood as a kinship to which it exists by consanguinity and right-line affinity in the first degree, and by consanguinity and online affinity in first grade or civil.

IV.    The officials of the Cooperative Society of Savings and Loan, as well as people other than those who with their signature can force the Cooperative Society of Savings and Loan.

An official shall be understood to mean the director or general manager and the officials holding positions with the immediate hierarchy lower than those.

In any case, the Cooperative Savings and Loan Societies will have to release annually to their General Assembly of Associates and to its Board of Directors, the aggregate amount of loans or loans to related persons, as well as any non-compliance observed in such transactions.

Operations with persons referred to in this Article, the amount of which as a whole does not exceed the national currency equivalent of 100,000 UDIS or two percent of the the paid share capital of the Company, whichever is lower, will not require the approval of the Board of Directors, however, they shall be made of their knowledge and make available to them all the aggregated information relating to the aforementioned operations to the General Assembly of Partners and to the Board of Directors, without specifying the name of the accredited Partners concerned. Persons who, being related in terms of this Article, may not obtain more than once a year, without such approval, loans or loans the amount of which does not exceed the amount referred to above.

The total sum of the amounts arranged and the irrevocable credit lines contracted from transactions with related persons, may not exceed 10 percent of the the accounting capital of a Cooperative Savings and Loan Company.

Counselors and officials should be excused from participating in discussions and refrain from voting in cases where they have a direct interest or a conflict of interest. interest.

In any case, transactions with related persons should not be conducted in more favourable terms and conditions than operations of the same nature as perform with the Partners.

You will also consider a related person transaction, that which is made through any person or trust, when the counterparty and source of payment such an operation depends on one of the related persons referred to in this Article.

Not to be considered transactions with related persons, the labor credits that the Cooperative Society of Savings and Loan grants to its workers, other than those mentioned in the previous fractions.

Article 27.- The Savings and Loan Cooperative Societies will not be able to have sections or departments other than savings and loan activities in terms of the provisions of the General Law of Cooperative Societies, except that they offer services and products of social assistance to their Partners in the terms specified in Article 57 of that Law, in which case, the expenses and investments they make for such purposes, they shall be covered by the distributable remnants of the Society itself, constituting itself with such remnants, reserves destined for this purpose. Under no circumstances may such expenses and investments be made from the resources collected from their Partners.

Article 28.- The Savings and Loan Cooperative Societies will be obligated to:

I.      Provide the Monitoring Committee to Auxiliary all documents, information and records that are requested to them.

II.    Allow the review, by the Committee on Auxiliary Supervision, of the fulfilment of the requirements of the register, in the premises of the companies.

III.   Dealing with Cooperative Savings and Loan Societies with Operating Levels I to IV:

a) Provide the Commission with all documents, information and records requested to them.

b) Allow the practice of inspection visits and audits by the Auxiliary Supervision Committee or the Commission itself, for the verification of the compliance with the obligations arising out of this Law and the provisions of this Law.

c) Pay the periodic fees as determined by the Technical Committee, in accordance with the provisions of Title IV of this Law and the provisions of she emanates.

When a Cooperative Savings and Loan Company with Operating Levels I to IV does not meet in time and form with the quotas set by the Technical Committee, he must pay the moral interest he establishes. For the purposes of calculating the above interest, it must be considered at least the interest that the unpaid contributions would have generated if they had been contributed to the Fund.

d) Inform both the Commission and the Auxiliary Supervisory Committee, through any of the administrative bodies, director or general manager of the Cooperative Society of Savings and Loan itself, when it is founded on the basis that any of the conduct that the Article 400 Bis of the Federal Criminal Code is being carried out, in terms of the provisions of Articles 71 and 72 of this Law. In any event, the information referred to in this section shall be made directly from the Commission's knowledge.

THIRD TITLE

OF THE ORGANIZATION AND REGULATION OF COOPERATIVE SAVINGS AND LOAN SOCIETIES WITH OPERATING LEVELS I A IV

Chapter I

From the organization

Article 29.- The Commission may determine in general provisions, that the Cooperative Savings and Loan Societies, depending on the level of operations assigned to them, between I and IV, have a Credit Committee or its equivalent.

The Board of Directors shall issue the operating regulations and manuals to which the Credit Committee or its equivalent shall be adjusted.

Article 30.- The Cooperative Savings and Loan Societies with Operation Levels I to IV will be required to verify compliance with the requirements outlined by their (a) a constituent basis, on the part of persons elected as directors, members of the Supervisory Board, or appointed as a director or general manager, as well as members of the Credit Committee or its equivalent, prior to the commencement of their efforts.

The Cooperative Savings and Loan Companies with Operation Levels I to IV must inform the Commission of the choice of new members, members of the Board of Directors Surveillance, as well as the appointment of the Director or General Manager, members of the Credit Committee or its equivalent, within 15 working days after appointment.

Article 30a.- Cooperative Savings and Loan Societies with Levels of Operation I to IV, shall ask the Committee for Supervision to Auxiliary an Opinion with respect to the modifications they intend to make to their constitutive writing or to their constitutive bases, in order to verify that these modifications conform to the General Law of Cooperative Societies, to this Law and to the provisions that she emanates.

Once the favourable opinion of the Auxiliary Supervisory Committee has been obtained, it shall forward it to the Commission within a period not longer than five working days from the date of their issuance, together with the corresponding application for authorisation of the proposed amendments. In any event, the Commission shall, within a period not exceeding 10 working days, and, after the expiry of the notification, the Commission shall be deemed to be in a positive sense to the application for authorisation.

The constitutive deed or its modifications, which have obtained the approval of the Commission, must be registered in the Public Registry of Commerce of the registered office of the company in question, within a term not greater than one hundred and twenty calendar days from the date on which it was authorized, owing for such effects, to exhibit the respective testimony.

Chapter II

Of The Regulation

First Section

From prudential regulation

Article 31.- The Commission shall, by means of general provisions, issue minimum guidelines relating to eminently technical or operational aspects to preserve the liquidity, solvency and stability of the Cooperative Savings and Loan Societies with Operational Levels I to IV, in the following areas:

I.      Minimum capital.

II.    Internal controls.

III.   Credit process.

IV.    Integration of credit files.

V.     Comprehensive risk management.

VI.    Capitalization requirements that are applicable according to the credit risks and, where applicable, the market. Such requirements shall include the treatment of investments in buildings and other assets corresponding to the activities referred to in Article 27 of this Law which, if appropriate, must be subtracted from net capital on the basis of its degree of liquidity or other associated risk concepts.

VII. Credit portfolio rating and constitution of preventive estimates for credit risk.

VIII.            Liquidity ratios.

IX.    Diversification of risks in operations.

X.     Capital investment scheme.

XI.    Those others that it deems appropriate to provide liquidity, solvency and financial stability, as well as the proper operation of the Cooperative Savings and Loan Societies with Levels of Operation I to IV.

The Commission shall require the prior agreement of its Governing Board to issue the general provisions referred to in the earlier fractions I and VI.

In the issuance of the provisions referred to in fractions III, IV and VIII, in the case of operations carried out by the Cooperative Savings and Loan Societies in Rural Areas, the Commission shall consider the restrictions and limitations that may exist in those areas, as well as control mechanisms that compensate for such a situation.

In addition, when for the best performance of the privileges conferred upon it by this Article, the Commission may request the opinion of the Secretary and Bank of Mexico.

In the process of issuance and modification of the provisions referred to in this Article, in terms of the provisions of Article 10 of the Federal Law of Transparency and Access to Federal Public Information, the Commission shall make public the preliminary draft provisions of a general nature, at least 20 working days in advance of the date on which they are intended to be published, for the purposes of make them aware of the cooperative sector of saving and lending, and this one, can submit to the consideration, by the Commission, of comments on the above projects.

The Commission may, by means of general provisions, derogate from the bodies with which the companies must be counted on the basis of their size and level of operations.

Section Second

External accounting and auditing

Article 32.- Any act or contract that means variation in the assets, liabilities, results or capital of a Cooperative Savings and Loan Company with Levels of Operation I to IV, or imply direct or contingent obligation, shall be recorded in the accounts. The accounting, the books and other relevant documents and the time limit to be kept shall be governed by the provisions of a prudential nature which the Commission shall issue.

Article 33.- The Cooperative Savings and Loan Societies with Operation Levels I to IV will be able to microfilm or record on optical discs, or any other (a) the Commission, in accordance with Article 1 (1) of the Treaty, allows the Commission, all those books, registers and documents in general, to be held in its possession, in connection with the acts of the Company itself, which, by means of general provisions, are authorized by the Commission, technical bases for microfilming or recording on optical discs, their handling and conservation set the same.

Original camera negatives obtained by the microfilm system and the images recorded by the optical disc system or any other means authorized by the the Commission, as referred to in the preceding paragraph, as well as the impressions obtained from those systems or means, duly certified by the authorised official of the Cooperative Society of Savings and Loan with Levels of Operation I to IV, will have the same evidentiary value as the books, records and documents microfilm or recorded on optical discs, or preserved through any other authorised means.

Elapsed the period in which the Cooperative Savings and Loan Societies with Levels of Operation I to IV are obliged to keep the accounts, books and other documents in accordance with Article 32 of this Law and the provisions issued by the Commission, the records appearing in the Company's accounts shall make faith, unless proof to the contrary, in the respective judgments for the fixing of the balances resulting from the operations referred to in point (a) of Section I of Article 19 of this Law.

Article 34.- The Commission, by means of general provisions that seek the transparency and reliability of the financial information of the companies Savings and Loan cooperatives with Operating Levels I to IV, will point out the requirements that the approval of the financial statements by the directors of these companies will be subject; its dissemination through any means of communication, including electronic, optical or any other means technology, as well as the procedure to be followed by the Commission's own review.

The Commission shall establish, by means of general provisions to facilitate the transparency and reliability of the financial information of the Societies Savings and Loan cooperatives with Operational Levels I to IV, the form and content to be presented by the financial statements of these; likewise, you may order that the financial statements be spread with the relevant modifications and within the time limits set by the Commission.

Additionally, the Supervisory Committee of the Protection Fund may order the corrections to be made to the financial statements resulting from the agreement. the provisions laid down in this Law and in the general provisions issued by the Commission.

Annual financial statements shall be issued by an independent external auditor, who shall be directly appointed by the Board of Directors of the The company concerned. The Commission in general provisions may exempt from that opinion the Cooperative Savings and Loan Societies which are assigned the levels of operations I and II, provided that the value of their assets is lower than the determine the Fiscal Code of the Federation in its Article 32-A, as a matter of course not to be obliged to rule its financial statements for tax purposes in the terms of Article 52 of the Code itself.

The Commission itself, by means of general provisions that seek the transparency and reliability of the financial information of the Cooperative Societies Savings and Loan with Operation Levels I to IV, may lay down the characteristics and requirements to be met by independent external auditors, determine the content of their opinions and other reports, dictate measures to ensure a appropriate alternation of such auditors in companies, as well as to identify the information to be disclosed in its opinions, about other services, and in general, of the professional or business relationships that they provide or maintain with the companies they audit.

Article 35.- The Commission shall have powers of inspection and surveillance in respect of moral persons providing external audit services in terms of of this Law, including the Partners or employees of those who are part of the audit team, in order to verify the compliance with this Law and the observance of the general provisions that emanate from it, adhering to the provisions In the Political Constitution of the United Mexican States and others Applicable laws, to the effect of ensuring the formalities of the procedures, as well as of the pre-inspected hearing for the imposition of corrective actions or penalties.

For this purpose, the Commission may:

I.      Require all kinds of information and documentation related to the provision of this type of services.

II.    Practice inspection visits.

III.   Require the appearance of partners, representatives, and other employees of the moral persons who provide external audit services.

IV.    Issuing or recognizing standards and audit procedures to be observed by moral persons providing external audit services when ruling or issuing opinions concerning the financial statements of the Cooperative Societies Savings and Loan with Operating Levels I to IV.

The exercise of the powers referred to in this Article shall be limited to the opinions, opinions and audit practices which, in accordance with this Law, practice moral people who provide external audit services, as well as their Partners or employees.

Article 36.- The Cooperative Savings and Loan Societies with Operation Levels I to IV must observe the provisions of Articles 34 and 37 of this Law, the requirements to be met by the moral person providing the external audit services, as well as the external auditor who subscribes to the opinion and other reports corresponding to the financial statements.

Article 37.- The external auditors who subscribe to the opinion to the financial statements representing the moral persons who provide the services external audit shall meet the personal and professional requirements established by the Commission by means of general provisions, and shall be the Partners of a moral person providing professional audit services of financial statements and which complies with the quality control requirements that have the effect establish the Commission itself in those provisions.

In addition, the external auditors, the moral person of whom they are Partners and the Partners or persons who are part of the audit team, shall not be located in any of the cases of lack of independence which the Commission may establish by means of general provisions, in which it considers, inter alia, financial links or economic dependence, the provision of services additional to the audit and maximum time limits during which the auditors external audit services can be provided to the Cooperative Savings and Loan Societies with Operation Levels I to IV.

Article 38.- The external auditor, as well as the moral person of which he is a partner, shall be required to keep the documentation, information and other elements used to draw up their opinion, report or opinion, for at least 5 years. For such purposes, automated or digitised means may be used.

The external auditors shall also provide the Monitoring Committee of the Protection Fund and the Commission with the reports and other evidence of evidence in which the support their opinions and conclusions. If during practice or as a result of the audit they find irregularities affecting the liquidity, stability or solvency of any of the companies to which they provide their audit services, they shall submit to the Supervisory Committee of the Protection Fund, and in any case the Commission, a detailed report on the situation observed.

People who provide external audit services will be responsible for the damages they cause to the Cooperative Savings and Loan Society. contract, when:

I.      When, due to inexcusable negligence, the opinion or opinion they provide contains defects or omissions which, by reason of their profession or trade, should be part of the analysis, evaluation or study which gave rise to the opinion or opinion.

II.    When intentionally, in the opinion or opinion:

a) Omitas relevant information of which they are aware, when it should be contained in their opinion or opinion.

b) Incorporate information that is false or misleading, or is appropriate to the outcome in order to make a situation other than the one that corresponds to the reality.

c) Recomitting the celebration of some operation, opting into the existing alternatives, for that which generates property effects notoriously Harmful to the Society.

d) Suggest, accept, encourage or propose that a particular transaction be recorded in contravention of the accounting criteria issued by the Commission.

Article 39.- The persons referred to in Article 37 of this Law shall not be liable for any damages or damages caused by the services or opinions they issue, when acting in good faith and without giving the following update:

I.      Surrender your opinion or opinion based on information provided by the person to whom you provide your services.

II.    Give your opinion or opinion in accordance with the rules, procedures and methodologies to be applied for the analysis, assessment or study corresponding to your profession or trade.

Article 40.- The Commission shall fix, by means of general provisions, the rules for the maximum estimate of the assets of the Cooperative Societies Savings and Loan with Levels of Operation I to IV and the rules for the minimum estimate of their obligations and responsibilities, in order to ensure the proper valuation of these concepts in the accounting of the referred societies.

In the process of issuance and modification of the provisions referred to in this Article, in terms of the provisions of Article 10 of the Federal Law of Transparency and Access to Federal Public Information, the Commission shall make public the preliminary draft provisions of a general nature, at least 20 working days in advance of the date on which they are intended to be published, for the purposes of make them aware of the cooperative sector of saving and lending, and this one, can submit to the consideration of such a Commission's comments with regard to the above projects.

TITLE FOURTH

THE PROTECTION FUND

Chapter I

Of the Constitution of the Protection Fund

Article 41.- The Cooperative Savings and Loan Societies with Operation Levels I to IV must participate in the Protection Fund in the terms of this Law.

Article 42.- The Federal Government, through the Secretariat, will constitute a trust to be called the Auxiliary Supervision Fund of Cooperative Societies of Saving and Loan and Protection to Savers, which for the purposes of this Law is called the Protection Fund.

The purpose of the Protection Fund shall be to carry out the auxiliary supervision of the Cooperative Savings and Loan Societies with Operating Levels from I to IV; carry out preventive operations aimed at avoiding financial problems that may arise from such companies, carrying out the assessments referred to in this Law to the Cooperative Savings and Loan Societies with a basic level of operations; as well as, to ensure compliance with obligations relating to savings deposits from their Partners in the terms and conditions that this Act establishes.

The constitution of the trust by the Federal Government must be made in a development banking institution, who will act as a fiduciary institution. Such trust shall not have the status of an entity of the federal public administration or public trust, and shall not, therefore, be subject to the provisions applicable to such entities, without prejudice to the powers of those entities. The Commission shall directly exercise

powers.

Article 43.- The Protection Fund, for the fulfilment of its purposes, shall be supported by a Technical Committee, as well as an Auxiliary Oversight Committee and a Committee For the Protection of Cooperative Savings. These committees will be organized and will have the functions that this Law points out.

The Protection Fund will also have a general manager and a regulatory controller, who will have the privileges to be determined by the Technical Committee.

Article 44.- The Heritage of the Protection Fund will be integrated by:

I.      The contributions that the Federal Government makes.

II.    The quotas that the Cooperative Societies of Savings and Loan with Levels of Operation I to IV, will be obliged to carry out in the terms of this Law. These quotas may be:

a) Ordinary auxiliary supervision quotas, as well as the moratoria interests that, if any, are generated for non-compliance in your payment.

b) Ordinary and extraordinary deposits of deposit insurance, as well as the delinquent interests that, if any, are generated for non-compliance in your payment.

(c) The quotas referred to in the preceding points must be recorded in separate accounts for each item.

III.   Other assets, rights and obligations that the fund itself acquires for any legal title.

Chapter II

From The Technical Committee

Article 45.- The Technical Committee of the Protection Fund shall be composed of nine representatives of the Cooperative Savings and Loan Societies sector. must comply with the requirements set out in Article 46 below. The contract establishing the protection fund shall provide for the designations of the members of the Technical Committee to be carried out on the basis of a favourable opinion of the Commission.

The Confederation will have to ensure that these designations promote adequate representation of the sector, for which the Technical Committee will have to be integrated with the following proportionality:

I.      The Confederation shall elect five of its members and their respective alternates. The constitutive bases of this must stipulate in an express way the procedure to be followed for the election of the candidates, in order to ensure the appropriate representativeness of these.

II.    The Federations shall elect four of its members and their respective alternates, in accordance with the following:

a) The federations representing the individual or as a whole, the interests of the Cooperative Societies of Savings and Loan with Levels of Operation I IV, which will manage half or more of the sector's assets, will be able to choose 2 of the members.

(b) The Federations representing the individual or as a whole, the interests of the Cooperative Savings and Loan Societies with Levels of Operation I to IV, which will manage more than one quarter but less than half of the sector's assets, will be able to choose a member.

c) The Federations that represent for the individual or as a whole, the interests of the Cooperative Savings and Loan Societies with Levels of Operation I to IV, which will administer in the individual less than the remaining quarter of the sector's assets, will be able to choose a member.

d) Federations which have been grouped together or formed alliances to elect candidates according to previous points (a), (b) or (c) may not accumulate the right to choose candidates in another segment.

The Confederation may make the designations of the members that correspond in terms of this fraction, when they are not carried out within 3 months. the following to verify a vacancy. The designations to be made by the Confederation shall be provisional until the designation is made in terms of this fraction.

Article 46.- To be a member of the Technical Committee you will need to:

I.      Count on satisfactory credit history and good repute, as well as having recognized experience in legal, financial or administrative matters.

II.    Do not be an advisor or consultant to any Cooperative Savings and Loan Society.

III.   Do not have pending litigation or past due debits with any Cooperative Savings and Loan Company, or any of its cooperative bodies.

IV.    Not to be employed or an official of any Cooperative Savings and Loan Society.

V.     Not having been sentenced for intentional or disordered offenses to perform a job, job or commission in the Federal, State or Municipal public sector or in the Mexican financial system.

VI.    Not to be or have been subject to a contest or declared bankrupt, or to be disabled to exercise commerce, or sentenced for intentional property offences.

VII. Do not have kinship for consanguinity or affinity up to the fourth grade or civil with any member of the Board of Directors, Supervisory Board or with the director or general manager of some Cooperative Savings and Loan Society.

VIII.            Do not exercise any public office of popular choice or party or union leadership.

IX.    Not to be an official of the governmental agencies responsible for the supervision and supervision of the Cooperative Savings and Loan Societies.

X.     Do not celebrate with any Cooperative Society of Savings and Loan, directly or indirectly, contracts of works, services, supplies or any other of an analogous nature, or participate in companies and/or in the social capital of these, with which Such Cooperatives shall hold any of the acts referred to above.

XI.    comply with the other requirements set out in the contract establishing the Protection Fund.

The Confederation shall evaluate and verify prior to the appointment of the members of the Technical Committee, compliance with the requirements stated in the present Article, so you should know the profile of the candidates to perform as members of the Technical Committee, and verify the documentation and information that the same council determines in the respective regulations.

Article 47.- The Technical Committee will perform the following functions:

I.      Establish general objectives, guidelines and policies to regulate the operation and administration of the Protection Fund.

II.    Establish policies and guidelines regarding the auxiliary supervision of the Cooperative Savings and Loan Societies with Levels of Operation I to IV, adhering to the provisions of Article 63 of this Law.

III.   Approve the internal regulations and the management manuals or operations of the Protection Fund on the proposal of the Committees for Auxiliary Supervision and Cooperative Savings Protection.

IV.    Constitute the regional offices of the Auxiliary Supervisory Committee on a proposal from the Committee on Auxiliary Supervision, after the Commission's opinion.

V.     Appoint members of the Auxiliary Supervisory Committee and its regional offices, as well as the Cooperative Savings Protection Committee.

VI.    Name the general manager and regulatory controller, which must meet the following requirements:

a) Credit for successful credit history and good repute.

b) To have provided at least 5 years of their services in positions whose performance requires knowledge and experience in legal, financial or administrative.

c) Not to be employed, official or member of the Board of Directors or of any Cooperative Savings and Loan Company.

d) Do not be subject to contest or declared bankrupt, or be disabled to exercise commerce.

e) Not having been sentenced for intentional property offences or for a job, job or commission in the Federal, State or public sector Municipal, or in the Mexican financial system.

f) Do not have pending litigation or defeated debits with some Cooperative Savings and Loan Society.

g) Do not have kinship for consanguinity or affinity to the second degree or civil with any member of the Board of Directors, Supervisory Board or the director or general manager of a Cooperative Savings and Loan Society.

h) Do not have a celebrated Savings and Loan Cooperative Society with personal service delivery contracts.

i) Do not exercise any public office of popular choice or party or union leadership.

j) Not to be an official of the government agencies responsible for the supervision and surveillance of the Cooperative Savings and Loan Societies.

VII. Determine how the calculation of the periodic quotas should be carried out by means of auxiliary supervision and those relating to deposit insurance, subject to prior approval by the Commission.

The Technical Committee, in the determination of the periodic quotas for auxiliary supervision, shall take into account, among other factors, the value of the liabilities total, the value of the credit portfolio due and the value of the total credit portfolio minus the preventive reserves, of each Cooperative Savings and Loan Company with Levels of Operation I to IV, and may be established for such purposes minimum quota. Such quotas shall consider the costs necessary for the proper functioning and support of the Protection Fund.

The Technical Committee shall also determine the periodic quotas for deposit insurance in accordance with the provisions of Article 56 (II) of the Treaty. This Law.

The Protection Fund shall publish in the Official Journal of the Federation how to calculate the periodic quotas referred to in this section, as well as the moratorical interests in the event of non-compliance with their payment.

VIII.            Approve the financial statements for each annual exercise and make them aware of the Commission.

IX.    Submit an annual report of its management to the Commission.

X.     Report half-yearly reports on the management of the Protection Fund's deposit insurance account.

XI.    Perform the operations and contracts of a commercial or civil nature that are necessary for the fulfillment of its object.

XII. Other laws and other laws provide for the fulfilment of their object, as well as those provided for in the contract establishing the Protection Fund.

Chapter III

Other Provisions of the Protection Fund

Article 48.- The Internal Regulations of the Protection Fund shall contain, inter alia, the rules applicable to:

I.     The methodology to be used by the Auxiliary Supervisory Committee for the exercise of auxiliary supervisory functions.

II.    The policies and criteria with which the Cooperative Savings Protection Committee will administer the Protection Fund's deposit insurance account.

III.   The guidelines for determining the amount of the ordinary and extraordinary contributions and contributions to be made by the Cooperative Savings and Loan Societies with Levels of Operation I to IV.

IV.    The internal control and correction program to prevent conflicts of interest and misuse of information.

V.     The mechanisms for making the loans that may be granted to each other the Cooperative Savings and Loan Societies with Levels of Operation I to IV as referred to in Article 19, fraction I, (h) of this Law.

VI.    The mechanisms for making loans that the Cooperative Savings Protection Committee will be able to grant to the Cooperative Savings and Loan Societies with Levels of Operation I to IV as outlined in Article 55 of this Law.

VII. The procedure for the payment of guaranteed obligations.

VIII.            The timing of the order as a member of the Technical Committee.

The Commission may, at all times, order adjustments to the internal rules of the Protection Fund, as well as to object to the resolutions or determinations adopted by the social organs of these.

Article 49.- The Protection Fund will provide the Cooperative Savings and Loan Societies, information about the services it offers and the characteristics of the protection of cooperative savings.

The Protection Fund shall make available to the general public on a permanent basis and through electronic means, the revenue and expenditure of each of the (a) concepts corresponding to the ancillary supervision and deposit insurance quotas, with figures at the end of each annual financial year. The Commission may request the Protection Fund, if necessary, to make clarifications to the information it makes available to the public.

Article 50.- The Protection Fund and its respective committees will be subject to the supervision of the Commission, which will have all the powers that inspection and surveillance gives you your own Law, as well as Articles 62 and 64 of this order.

Chapter IV

Of The Auxiliary Monitoring Committee

Article 51.- The Auxiliary Oversight Committee shall be composed of a president and the managers of the regional offices that shall be established by agreement. of the Technical Committee and after the opinion of the Commission, taking into account the regional concentration of the Cooperative Savings and Loan Societies in the national territory and will have as its main object the prevention of any type of insolvency or Risk of operability of the Cooperative Savings and Loan Societies.

The Chairman of the Auxiliary Oversight Committee and the regional office managers will be appointed by the Technical Committee. The president shall direct the auxiliary supervisory work and shall ensure compliance with the policies as well as the guidelines and work plans corresponding to the auxiliary oversight functions.

The regional offices will be made up of at least 3 persons appointed by the Technical Committee, of which a manager will be appointed who will be responsible for that office.

The Auxiliary Oversight Committee and regional offices will have the power to hire and remove staff from their operational structure.

Members of the Auxiliary Oversight Committee, as well as the members of the regional offices, may only be removed from their post, upon the opinion of the Commission, who will listen to the person concerned.

To be a member of the Auxiliary Oversight Committee and regional offices it will be necessary:

I.      Accredit to have satisfactory credit history and good repute, as well as to have recognized experience in financial and administrative matters, or in audit activities.

II.    Do not be an advisor or consultant to any Cooperative Savings and Loan Society.

III.   Do not have pending litigation or past due debits with some Cooperative Savings and Loan Company.

IV.    Do not have any other employment, office, or commission, except for those who refer to teaching, research, cultural or charitable activities.

V.     Not having been sentenced for intentional or otherwise prohibited offenses to exercise commerce, or to perform a job, position or commission in the Federal, State or Municipal public sector, in the Mexican financial system.

VI.    Do not be subject to competition or declared bankruptcy, or be disabled to exercise commerce.

VII. Do not have kinship for consanguinity or affinity up to the fourth grade or civil with any member of the Board of Directors, Supervisory Board or with the director or general manager of some Cooperative Savings and Loan Society.

VIII.            Have a certification issued by a specialized institution recognized by the Commission.

IX.    Not to be an official of the governmental agencies responsible for the supervision and supervision of the Cooperative Savings and Loan Societies.

X.     Do not exercise any public office of popular choice or party or union leadership.

XI.    comply with the other requirements laid down by the Commission by means of general provisions.

Article 52.- The Auxiliary Oversight Committee and the Regional Offices of the Protection Fund shall, in an indistinct manner, perform the following functions:

I.        Take the register of Cooperative Savings and Loan Societies as referred to in Article 7 of this Law.

II.       Carry out the review of compliance with the registration requirements through the assessment of the financial statements of the Cooperative Savings and Loan Societies, which may be carried out on the premises of the companies in case of The Committee assumes that irregularities are found.

Also, arising from the review of compliance with the requirements of the registry, may make recommendations to the respective Cooperative Savings and Loan Societies.

The Auxiliary Supervisory Committee and the regional offices of that fund may be supported for the performance of that function, in any Federation, provided that the latter has a technical assistance area that meets the requirements for such purposes set out by the Technical Committee.

III.     The auxiliary supervision of the Cooperative Savings and Loan Societies with Levels of Operation I to IV, which will be exercised for preventive, non-punitive purposes.

IV.      The purpose of auxiliary supervision shall be to review, verify and assess the resources, obligations and assets of such companies, as well as operations, operations, control systems and, in general, all that may be possible. affect the financial position and legal status of those, whether or not it is recorded in their records, in order to comply with this Law, to the provisions of the Law and to the sound practices and practices prevailing among the Cooperative Societies of Saving and Loan.

V.        The objectives of the auxiliary monitoring process shall be consistent with the policies, guidelines and work plans set out by the Technical Committee, as well as the general provisions of the Commission.

VI.      Conduct inspection visits to the Cooperative Savings and Loan Societies with Operation Levels I to IV, complying with the formalities established by this Law and limiting its resolutions to non-coercive recommendations.

VII.     Formulate observations and recommendations to the Cooperative Savings and Loan Societies with Levels of Operation I to IV.

VIII.   To request the Cooperative Savings and Loan Societies with Operational Levels I to IV the information necessary for the exercise of their functions.

IX.      Propose to the Technical Committee the policies, guidelines and work plans with regard to auxiliary supervision, which should adhere to the general provisions that the Commission may establish for such purposes.

X.        Report the results of your work programme to the Commission.

Regional offices will additionally be required to report the results of their work to the Committee on Auxiliary Supervision.

XI.      Report to the Commission the irregularities detected in the Cooperative Savings and Loan Societies with Levels of Operation I to IV, in the performance of their auxiliary supervision activities.

Regional offices will additionally be required to report to the Supervisory Committee itself Auxiliary in respect of the irregularities referred to in the preceding paragraph.

XII.    Carry out the assessments to the Cooperative Savings and Loan Societies with the level of basic operations referred to in Article 15 of this Law.

XIII. Report to the Commission the Cooperative Savings and Loan Societies with a level of basic operations that are classified in D.

XIV.   The other that this Law grants to it, as well as those provided for in the general provisions that emanate from it for the fulfilment of its object, and those provided for in the contract establishing the Fund for Protection.

Article 53.- The following are the exclusive powers and obligations of the Chair of the Auxiliary Oversight Committee:

I.      Approve the auxiliary supervision practices of the regional offices of the Protection Fund, as well as follow up the implementation of the policies, guidelines and work plans that the Technical Committee will establish to the effect auxiliary monitoring.

This faculty will be exercised with the agreement of the majority of the regional managers in session of the Auxiliary Supervision Committee. The president shall have a vote of quality in the event of a tie in the vote.

II.    Report, on a quarterly basis, to the Technical Committee and to the Commission regarding the financial situation, and in its case, the operational and legal situation of the Cooperative Savings and Loan Societies with Levels of Operation I to IV.

Without prejudice to the foregoing, the Commission may request that the Technical Committee present the the report referred to in the preceding paragraph, in anticipation of the conclusion of the said quarter.

III.   Propose to the Technical Committee, the constitution of regional offices.

IV.    Propose to the Technical Committee the designation and removal of the members of the regional offices.

V.     Other laws and other laws provide for the fulfilment of their object, as well as those provided for in the contract establishing the Protection Fund.

Chapter V

Cooperative savings protection and the Cooperative Savings Protection Committee

First Section

From protection to cooperative savings

Article 54.- The Cooperative Savings and Loan Societies with Operation Levels I to IV will be required to pay the Protection Fund, the monthly fees to determine the Cooperative Savings Protection Committee. For the purposes of the foregoing, the Protection Fund shall have a special account to be called a deposit insurance account.

The deposit insurance account shall be primarily intended to cover the deposits of money of each saving partner referred to in point (a) of the fraction I Article 19 of this Law, in the terms established by Article 61 of this Law, up to an amount equal to 25,000 UDIS, by natural or moral person, whatever the number and class of operations in his favor and in charge of a The same Cooperative Society of Savings and Loan with Levels of Operation I to IV, in case of its dissolution and liquidation is declared, or its commercial tender is decreed.

The deposit insurance account shall not guarantee transactions that have not been subject to the laws, regulations, administrative provisions, as well as to the healthy practices and uses among the Cooperative Savings and Loan Societies, in which there is bad faith of the holder and those related to illegal acts or operations that are located in the cases of Article 400 Bis of the Criminal Code for the District Federal in Matter of Common Fuero and for the entire Republic in Matter of Federal Fuero.

The Cooperative Savings and Loan Companies will have an obligation to inform their Partners about the terms and conditions in which their operations, in terms of this Chapter.

Article 55.- The Protection Fund, through the Cooperative Savings Protection Committee, may approve the following endorsements:

I.      Liquidity preventive supports to the Cooperative Savings and Loan Societies with Operating Levels I to IV, as long as the following is counted:

) A technical study prepared by an external auditor and approved by the Cooperative Savings Protection Committee, which justifies the viability of the Company Savings and Loan Cooperative, the suitability of the support and that with the granting of such support will be a lower cost for the Protection Fund.

b) The granting of guarantees to the satisfaction of the Cooperative Savings Protection Committee.

c) A capital restoration program, if any.

Where appropriate, the Cooperative Savings and Loan Company must be in compliance, or have to comply with any applicable corrective measures, including those referred to in Article 79 of this Law.

The sum of the amounts of the preventive liquidity support granted by the Cooperative Savings Protection Committee may not exceed 15 percent at any time. A percent of the deposit insurance account resources. By way of exception, and taking into account the financial situation of the Cooperative Savings and Loan Societies with Operation Levels I to IV as a whole, the Technical Committee may authorise the sum of the amounts of the preventive support to be Liquidity is up to 30 percent of the deposit insurance account resources.

Once the payment by the Cooperative Society of Savings and Loan of the supports granted is covered, the Commission may, if necessary, lift the measures corrective actions that have been imposed on the Company, including those referred to in Article 79 of this Law.

II.    Financial supports to the Cooperative Savings and Loan Companies with Operating Levels I to IV provided that, in addition, the Company is spun off, merges, sells assets, or performs any other transaction that contributes to the reduction of the risk of insolvency or bankruptcy, in line with the provisions of Title VI of this Law, provided that this option is considered reasonably less costly than the payment of the money deposits of the savers.

Exceptionally, the Cooperative Savings Protection Committee may authorise support financial in the cases or in cases other than those mentioned in the previous paragraph, even if its cost is greater than the payment of the deposits of money of the savers of a Cooperative Society of Savings and Loan, provided that failure to do so could result in serious negative effects on other or other Cooperative Savings and Loan Companies in a way that risks their stability or solvency.

In any case, the Cooperative Savings Protection Committee will grant financial support to which refers to this fraction, provided that the elements referred to in points (a) to (c) of the previous Part I are counted for this purpose.

Article 56.- The deposit insurance account, administered by the Cooperative Savings Protection Committee, will be integrated with the following resources:

I.      The contributions that the Federal Government makes.

II.    The monthly contributions to be covered by the Cooperative Savings and Loan Societies with Operation Levels I to IV, which will be determined taking into account the risk to which they are exposed, based on the Capitalization and total liabilities, of each Cooperative Savings and Loan Company.

These quotas will be between 1 and 3 to the thousand annual on the amount of liabilities of the Society Savings and Loan Cooperative that is subject to protection in accordance with the provisions of Article 54 of this Law.

The range within which contributions will be located and how to calculate and pay the respective contribution shall be determined on a monthly basis by the Technical Committee on the basis of what the Commission shall establish by means of general provisions for such purposes.

III.   The extraordinary shares in charge of the Cooperative Savings and Loan Societies with Levels of Operation I to IV to be determined by the Technical Committee, subject to the authorization of the Commission.

Resources that integrate the Deposit Insurance Account of the Protection Fund shall be invested in government securities of ample liquidity or in securities representative of the share capital of investment companies in debt instruments, in accordance with what is determined by the Commission through provisions of a general nature.

The Auxiliary Oversight Committee must submit to the Cooperative Savings Protection Committee the information it requires to determine the quotas, according to the with Article 58, fraction I, of this Law.

The Cooperative Savings Protection Committee will be able to agree to the temporary suspension of the fees to the Deposit Insurance Account of the Protection Fund, when the resources that integrate the same represent at least 5 percent of the total savings deposits of all the Cooperative Savings and Loan Societies with Operating Levels I to IV, which are protected by the deposit insurance account of the Protection Fund.

Section Second

The Cooperative Savings Protection Committee

Article 57.- The Cooperative Savings Protection Committee shall be composed of 5 proprietary members and their respective alternates, who shall be appointed by the Technical Committee, of which one shall be appointed president, who shall have the powers to be determined by the Technical Committee.

The appointment of the members of the Cooperative Savings Protection Committee may only be placed on persons who comply with the following:

I.      Count on satisfactory credit history and good repute, as well as knowledge and experience in financial and administrative matters.

II.    Do not update any of the following impediments:

a) Being disabled to exercise commerce.

b) Hayan sentenced for irrevocable sentence for intentional crime that imposes penalty for more than 1 year in prison and, dealing with property crimes committed intentionally, whatever it may have been.

c) Have pending litigation with some Cooperative Savings and Loan Society or the Protection Fund.

d) Have been disabled to exercise any office, commission or employment in the Federal, State or Municipal public service, or in the financial system

e) Realise functions of regulation, inspection or surveillance of the Cooperative Savings and Loan Societies or the Protection Fund; as well as the spouses, concubines or concubinals and relatives by consanguinity, affinity or civil to the fourth degree with respect to such persons.

f) Play a public office of popular choice or party or union leadership.

g) Present a conflict of interest in your performance as members of the Cooperative Savings Protection Committee, for your property or property relations responsibility for the Cooperative Savings and Loan Societies and the Protection Fund itself, in the opinion of the Technical Committee.

h) To be an official of the government agencies responsible for monitoring and monitoring the Cooperative Savings and Loan Societies.

III.   Other requirements to be determined by the Commission by means of general provisions.

The Technical Committee shall evaluate and verify in advance the appointment of the members of the Cooperative Savings Protection Committee, the compliance of the requirements set out in this Article.

Article 58.- The Cooperative Savings Protection Committee will perform the following functions:

I.      Calculate the amount of the quotas that the Cooperative Savings and Loan Societies with Operating Levels I to IV will pay to the Deposit Insurance account of the Protection Fund. Also, where appropriate, determine the amount of extraordinary contributions to be determined by the Technical Committee, subject to the authorisation of the Commission.

II.    Instruct the fiduciary, on government securities of ample liquidity or the securities representing the share capital of investment companies in debt instruments, to invest the resources of the insurance account of Protection Fund deposits in terms of the second paragraph of Article 56 of this Law.

III.   Periodically assess the operational aspects of the Protection Fund's deposit insurance account.

IV.    Report to the Technical Committee on the management of the Deposit Insurance Account of the Protection Fund.

V.     Communicate to the Commission, the Technical Committee and the Supervisory Committee the irregularities which, by reason of their powers, are appropriate for them to know.

VI.    Make public the bases according to which the savers will be paid, in cases where such payment of guaranteed obligations is made.

The payment of guaranteed obligations will be made by the insurance account of the Protection Fund, to the extent that it reaches the resources of that account, in a subsidiary form, with the limits and conditions referred to in this Law and those laid down in the general provisions of the Commission.

VII. Approve the cases in which financial support is provided to the Cooperative Savings and Loan Societies with Levels of Operation I to IV in the terms of Articles 55 and 87 of this Act.

VIII.            Select any of the mechanisms referred to in Title VI of this Law, corresponding, if applicable, to the Cooperative Savings and Loan Company with Operating Levels I to IV, for which, to the insurance account of deposits, if any, the costs arising from the application of any of the above mentioned mechanisms should be subtracted.

IX.    Determine the form and terms in which the corporate and property rights inherent in the securities referred to in Article 87 of this Law shall be exercised, as appropriate.

X.     Make the designation of the liquidator or liquidator, in the event that a Cooperative Savings and Loan Company with Levels of Operation I to IV is in a state of liquidation or commercial competition.

XI.    Perform the operations and contracts of a commercial or civil nature that are necessary for the fulfillment of its object.

XII. The others that this and other Laws provide for the fulfillment of their object.

Article 59.- The Cooperative Savings Protection Committee shall report monthly to the Commission and the Technical Committee, the state that is keeping the insurance account of deposits from the Protection Fund.

The Cooperative Savings Protection Committee, once the assumptions referred to in Article 61 of this Law are updated, should inform savers by notices placed in a visible place of the offices of attention to the Partners of the Society concerned, as well as on the electronic page on the World Wide Web of the Protection Fund, on the payment procedure provisions of a general nature to be issued by the Commission in that field.

Article 60.- The Cooperative Savings Protection Committee may request the Auxiliary Oversight Committee to carry out the necessary inspection visits, the effect of verifying the financial, accounting and legal situation of the Savings and Loan Cooperative Societies with Operation Levels I to IV participants in the mechanisms referred to in Article 85 of this Law.

Article 61.- The Cooperative Savings Protection Committee, for the purposes of Article 54 of this Law, shall cover the principal and accessories of the deposits of money covered under this Law when a Cooperative Society of Savings and Loan with Levels of Operation I to IV enters into a state of dissolution and liquidation, or is declared in a commercial contest, discounting the insolute balance of the loans or loans in respect of which it is a debtor the Saving Partner and up to the limit that this Law establishes, so for the purposes of the compensation, such loans or loans will be anticipated in advance.

The amount to be paid to each depositor in accordance with this Article shall be set at UDIS from the date the dissolution is declared and liquidation of the Cooperative Society of Savings and Loan with Levels of Operation I to IV, respective, or decree its commercial contest. The payment of deposits shall be made in national currency, so the conversion of the amount denominated in UDIS shall be made using the current value of the said unit on the date the corresponding payment is covered.

In case a saver has more than one account in a same Cooperative Savings and Loan Company with Operating Levels I to IV and the sum of the Those exceeding the amount referred to in Article 54 of this Law, the Cooperative Savings Protection Committee shall only seek to cover that amount of coverage, dividing it in proportion to the number of accounts.

The form and terms in which the corresponding amounts will be covered will be laid down in the general provisions which the Commission will issue.

TITLE FIFTH

OF THE POWERS OF THE AUTHORITIES

Chapter I

Of inspection and surveillance

Article 62.- The supervision of the Cooperative Savings and Loan Societies with Levels of Operation I to IV and the Protection Fund will be in charge of the Commission, who will conduct it subject to the provisions of this Law, in the Law of the National Banking and Securities Commission and in the regulation of supervision issued under this last Law.

The Commission may carry out visits to the Cooperative Savings and Loan Societies with Levels of Operation I to IV, as well as to the Protection Fund and its Committees. Technical, Auxiliary Supervision and Cooperative Savings Protection, which shall be designed to review, verify, verify and evaluate the activities, operations, organization, operation, processes, internal control systems, risk management and information, as well as wealth, adequacy capital to the risks, the quality of the assets and, in general, all that may affect the financial, economic, accounting, administrative and legal position, whether or not it is recorded in the records, in order to ensure that the companies and the said fund, comply with the provisions governing them and the sound practices of the subject, as the case may be.

The Commission may also investigate acts, acts or omissions of which violation of this Law may be presumed and other provisions resulting therefrom.

The visits may be ordinary, special and research, the first of which shall be carried out in accordance with the annual programme to be established for this purpose; The second shall be those which are not included in the annual programme referred to above, in any of the following cases:

I.      To examine and, where appropriate, correct operational special situations.

II.    To track the results obtained on an inspection visit.

III.   When changes or changes are made to the accounting, legal, economic, financial or administrative situation of a Company or the Protection Fund.

IV.    Where a Company has been authorised by the Commission after the preparation of the annual programme referred to in the fourth paragraph of this Article.

V.     When acts, acts or omissions are presented in a Society that have not originally been contemplated in the annual program referred to in the fourth paragraph of this Article, which motivate the conduct of the visit.

VI.    When they derive from international cooperation.

The investigation visits shall be carried out whenever the Commission has indications of which it may be possible to carry out any conduct alleged to have been contrary to the provisions of this Law and other provisions of a general nature which emanate from it.

When, in the exercise of the function provided for in this Article, the Commission so requires, it may contract the services of auditors and other professionals who assist in that function.

The surveillance will be carried out through the analysis of the accounting, legal, economic, financial, administrative, process and procedures information obtained by the Commission based on the applicable provisions, in order to assess the attachment to the regulations governing the Protection Fund and the Cooperative Savings and Loan Societies with Levels of Operation I to IV, as well as the stability and proper functioning of those.

Without prejudice to the information and documentation provided by the Protection Fund and the Cooperative Savings and Loan Societies with Levels of Operation I to IV regularly provide the Commission with the information and documentation it requires in order to comply with its monitoring function, within the scope of the applicable provisions.

The Commission may, as a result of its supervisory powers, make observations and order the adoption of measures to correct the facts, acts or irregular omissions that you have detected on the basis of those functions, in terms of this Act.

Article 63.- The Commission shall establish by general provisions the manner in which the Auxiliary Supervision Committee shall exercise the powers of Auxiliary supervision of the Cooperative Savings and Loan Societies, it is prohibited to grant coercive powers against the Cooperative Savings and Loan Societies.

Article 64.- Surveillance and inspection will consist of taking care of the Cooperative Savings and Loan Societies with Operating Levels I to IV and the Fund of Protection complies with the provisions of this Law and those deriving from it, and take into account the observations and indications of the Commission.

The measures taken to exercise this faculty will be preventive and corrective to preserve the stability and solvency of the Cooperative Savings and Savings Societies. Loan with Operation Levels I to IV as well as the Protection Fund, and regulations to define criteria and establish rules and procedures to be adjusted for its operation, as provided for in this Law.

Article 65.- The Commission when it presumes the existence of omissions or administrative faults, may order the Cooperative Societies of Savings and Loan with Levels of Operation I to IV that are called to sessions of the Board of Directors or the General Assembly of Partners, as well as to include within the corresponding agenda the following matters:

I.      Report on the state of management and internal control of the Cooperative Savings and Loan Society.

II.    Adequacy of the accounting and financial reporting of the Cooperative Savings and Loan Company.

III.   Where appropriate, the presentation of particular reports of advisers and officials.

Article 66.- The Commission, upon agreement of its Governing Board, may order the removal of the members of the Board of Directors, directors, general managers, external auditors, members of the Supervisory Board, as well as members of the Credit Committee or its equivalent, of the Cooperative Savings and Loan Societies with Levels of Operation I to IV, a regulatory controller, Members of the Technical, Auxiliary Supervision and Savings Protection Committees Cooperative, the Protection Fund, or those who exercise their functions in the terms of this Law, as well as the other persons who with their acts may bind the Cooperative Savings and Loan Societies with Levels of Operation I to IV, as well as to the Protection Fund, or to agree to suspend all of them in their duties, from 3 months to 5 years, where the said Commission considers that such persons do not meet the requirements for the purpose laid down by their constituent bases, or serious or repeated infringement of this Law and the provisions of a general nature which results from it.

The Commission itself may also, in agreement with its Governing Board, in the cases referred to in the preceding paragraph, disable the persons mentioned for carrying out a employment, position, mandate or commission in any of the Cooperative Savings and Loan Societies with Levels of Operation I to IV, in the Protection Fund and its committees, as well as in the Mexican financial system, without prejudice to the sanctions that in accordance with this or other applicable legal orders.

To impose disablement the Commission should take into account:

I.      The severity of the violation and the convenience of avoiding these practices.

II.    The hierarchical level, background, age, and conditions of the offender.

III.   The amount of the benefit, damage or economic injury arising from the breach.

IV.    The recidivism.

For the suspension, removal and disablement, the Commission must first hear the interested party and the representative of the Cooperative Society of Savings and Loan or Fund Protection, as the case may be.

Also, in the case of Board members, directors, general managers, external auditors, members of the Supervisory Board, as well as members of the Credit Committee or its equivalent, of the Cooperative Savings and Loan Societies with Levels of Operation I to IV, the Commission shall proceed in accordance with this Article at the request of the Auxiliary Supervisory Committee, provided that the Committee accredit that the persons mentioned above do not meet the requirements the effect established or they incur in a serious or repeated manner in violation of this Law and the general provisions of this Law.

Article 67.- The Cooperative Savings and Loan Societies with Operating Levels I to IV, to offer the public a new operation, product or service, or or, to modify existing ones, they must at least observe what follows:

I.      Establish internal controls and processes to provide the public with the operation, product or service concerned.

II.    Count on methodologies for the identification, valuation, measurement and control of the risks of the operations, products and services identified.

The Cooperative Savings and Loan Companies with Levels of Operation I to IV will have to observe the general provisions to which they refer Article 31 of this Law.

The Commission may veto the operations, products and services referred to in this Article when in its judgment may have ruinous effects on the Company. Savings and Loan cooperatives with Operating Levels I to IV, or, significantly affect their solvency, liquidity or stability. Without prejudice to the foregoing, transactions which the Company has concluded prior to the exercise of the veto shall be governed by the parties ' agreement.

Directors, officials and employees of the Cooperative Savings and Loan Societies with Operational Levels I to IV or those directly involved in the authorization or conduct of the operations, products and services referred to in this Article, knowing that these were vetoed by the Commission in the terms described, may be suspended, removed or disabled in the terms of this Act.

Article 68.- The Cooperative Savings and Loan Societies with Operating Levels I to IV must close their doors and suspend operations on days that Point out the Commission by means of general provisions.

The days referred to in these terms may be considered to be indefable for all legal purposes, when determined by the Commission itself.

Article 69.- The information and documentation relating to the operations and services referred to in Article 19 of this Law shall be of a confidential nature, Therefore, the Cooperative Savings and Loan Societies, in protection of the right to privacy of their Partners which in this Article is established, in no case will be able to give news or information of the deposits, operations or services, but to the depositor, debtor, holder, beneficiary, his legal representatives or to those who have granted power to dispose of the account or to intervene in the operation or service.

As an exception to the provisions of the previous paragraph, the Cooperative Savings and Loan Societies with Levels of Operation I to IV will be obliged to give the news or information referred to in that paragraph, upon request by the judicial authority under providence given in judgment in which the holder or, where appropriate, the depositor, debtor, holder or beneficiary is a party or a defendant. For the purposes of this paragraph, the judicial authority may make its application directly to the Cooperative Savings and Loan Company with Levels of Operation I to IV, or through the Commission.

Cooperative Savings and Loan Companies with Operating Levels I to IV will also be exempt from the prohibition provided in the first paragraph of this Article. and therefore obliged to give the news or information mentioned, in cases where they are requested by the following authorities:

I.      The Attorney General of the Republic or the public servant in whom it delegates powers to require information, for the verification of the body of the crime and the probable responsibility of the person.

II.    The attorneys general of the States of the Federation and of the Federal District or subprocurators, for the verification of the body of the crime and the probable responsibility of the indicado.

III.   The Attorney General of Military Justice, for the verification of the body of the crime and the probable responsibility of the indicado.

IV.    Federal law enforcement authorities, for tax purposes.

V.     The Secretariat, for the purposes of the provisions of Articles 71 and 72 of this Law.

VI.    The Treasurer of the Federation, when the act of surveillance warrants it, to request the statements of account and any other information relating to the personal accounts of the public servants, auxiliaries and, where appropriate, private related to the investigation in question.

VII. The Higher Audit of the Federation, in exercise of its powers of review and audit of the Federal Public Account and with respect to accounts or contracts through which federal public resources are administered or exercised.

VIII.            The holder and deputy secretaries of the Secretariat of the Civil Service, in exercise of their investigative or audit powers to verify the evolution of the estate of the federal public servants.

The request for information and documentation referred to in the preceding paragraph shall be be made in any case, within the verification procedure referred to in Articles 41 and 42 of the Federal Law on Administrative Responsibilities of Public Servants.

IX.    The Unit of Taxation of the Resources of the Political Parties, technical organ of the General Council of the Federal Electoral Institute, for the exercise of its legal powers, in the terms established in the Federal Code of Institutions and Electoral Procedures. The electoral authorities of the federative entities shall request and obtain the information necessary for the exercise of their legal privileges through the first mentioned unit.

The authorities mentioned in the above fractions shall request the news or information referred to in this Article in the exercise of their powers and compliance with the applicable legal provisions.

The applications referred to in the third paragraph of this Article shall be made with due basis and motivation, through the Commission in respect of the Cooperative Companies of Savings and Loan with Levels of Operation I to IV. The public servants and the institutions identified in fractions I and VII, and the audit unit referred to in the IX fraction, may choose to request the judicial authority to issue the relevant order, in order to ensure that the Cooperative Savings and Loan Company with Operating Levels I to IV delivers the required information, provided that such servers or authorities specify the name of the Company, the account number, the name of the Partner and other data and elements which permit their full identification, in accordance with the operation in question.

Employees and officials of the Cooperative Savings and Loan Societies with Levels of Operation I to IV will be responsible, in the terms of the provisions applicable, for violation of the secrecy established and the companies will be obliged in case of improper disclosure of the secret, to repair the damages that are caused.

The above does not affect in any way the obligation of the Cooperative Savings and Loan Societies with Levels of Operation I to IV to provide to the Commission, any kind of information and documents which, in the exercise of their inspection and surveillance functions, requests them in relation to the operations they hold and the services they provide.

The documents and data provided by the Cooperative Savings and Loan Societies with Operating Levels I to IV as a result of the Article and of the research visits through auditors or professionals hired by the Commission, can only be used in the actions that correspond in terms of the Law and, in respect of those, the most must be observed strict confidentiality, even if the public server you have had knowledge of the information in question is separated from the service or the auditor or professional will cease to provide services to the Commission. To the public servant, auditor and/or professional who improperly breaks the reservation of the actions, provides a copy of the same or of the documents with them related, or that in any other way reveals information in them contained, shall be subject to the relevant administrative, civil or criminal liability.

The Cooperative Savings and Loan Companies with Operation Levels I to IV will have to respond to the requirements that the Commission will make to them under the requests from the authorities indicated in this Article, within the time limits determined by the same. The Commission itself may sanction companies which do not comply with the deadlines and conditions laid down in accordance with the provisions of Title 7 of this Law.

The Commission shall issue provisions of a general nature setting out the requirements to be met by the requests or requests for information which it makes the authorities referred to in this Article, to the effect that the Cooperative Savings and Loan Societies with Operation Levels I to IV required are in a position to identify, locate and contribute the requested news or information.

Article 70.- The Cooperative Savings and Loan Societies, as well as the Technical Committee, the Auxiliary Oversight Committee and the Savings Protection Committee Cooperative, they shall provide the Commission with all the information they require for the proper performance of their supervisory tasks, by means of duly substantiated and reasoned acts.

Also, the Cooperative Savings and Loan Societies with Operational Levels I to IV, as well as the Technical Committee, the Auxiliary Oversight Committee and the Committee of Protection of the Cooperative Savings, must present the information and documentation that, in the field of their respective competences, request the Secretariat, the Bank of Mexico, the Commission and the National Commission for the Protection and Defense of the Users of Financial Services, within the deadlines and through the means that the same establish, by means of duly substantiated and reasoned acts.

The Commission may issue general provisions laying down the time limits and means for the delivery of the information which the Cooperative Societies of Savings and Loan with Levels of Operation I to IV, as well as the Protection Fund and their respective committees shall submit to the Commission.

In order to preserve financial stability, avoid disruptions or disruptions to the functioning of the financial system, as well as to facilitate the adequate compliance with its functions, the Secretariat, the Commission, the Bank of Mexico and the National Commission for the Protection and Defense of the Users of Financial Services shall, at the request of an interested party and in terms of the conventions to which refers to the sixth paragraph of this article, to exchange the information that they have in their possession for obtaining it:

I.           In the exercise of their faculties;

II.         As a result of your performance in coordination with other entities, persons or authorities or,

III.        Directly from other authorities.

To the faculty mentioned in the above paragraph, restrictions regarding the reserved or confidential information in terms of the provisions will not be opontable. applicable legal. Anyone who receives the information referred to in this Article shall be responsible, in administrative and criminal terms, in terms of the applicable law, for the dissemination to third parties of confidential or reserved information.

For the purposes of this Article, the designated authorities shall conclude information exchange conventions specifying the information exchanged and determine the terms and conditions to which they are to be subject. In addition, such agreements must define the degree of confidentiality or the reservation of information, as well as the respective control bodies to which cases where the delivery of information is denied or its delivery is made out of the time limits set.

The Secretariat, the Commission, the Bank of Mexico and the National Commission for the Protection and Defense of Financial Services Users, in the field of their competence, be empowered to provide the financial authorities outside the outside with any information they deem appropriate to meet the requirements of the financial authorities, such as documents, constances, records, declarations and other evidence that such authorities have in their power to have obtained it in the exercise of their powers.

For the purposes of the foregoing paragraph, the authorities shall have an agreement to exchange information with the financial authorities of the This is the case, in which the principle of reciprocity is envisaged.

The National Banking and Securities Commission will be empowered to provide foreign financial authorities with information protected by confidentiality which it holds in its possession in the exercise of its powers, acting in coordination with other entities, persons or authorities or directly from other authorities.

The Bank of Mexico will be empowered to provide foreign financial authorities with information protected by confidentiality provisions in its power to have obtained it directly in the exercise of its powers. Likewise, the Bank of Mexico will be empowered to provide the financial authorities with information protected or not by confidentiality provisions obtained from other authorities of the country, only in cases where it has expressly authorised in the convention for the exchange of information by virtue of which such information has been received.

In any event, the Commission and the Bank of Mexico may refrain from providing the information referred to in the previous two paragraphs, when the use of the intends to give to the same one for which it has been requested, contrary to public order, national security or the terms agreed upon in the respective information exchange agreement.

The Secretariat, the Commission, the Bank of Mexico and the National Commission for the Protection and Defense of Financial Services Users will have to establish coordination for the purposes of the delivery of the information referred to in this Article to the financial authorities of the outside world.

The delivery of information pursuant to this Article shall not imply any breach of the reserve, confidentiality, security or other obligations similar to be observed in accordance with applicable legal provisions.

Article 71.- The Cooperative Savings and Loan Societies with Operating Levels I to IV, in terms of the general provisions that the Secretariat, listening to the Commission's prior opinion, shall be obliged, in addition to comply with the other obligations applicable to them, to:

I.      Establish measures and procedures to prevent and detect acts, omissions or operations that may favor, assist, assist or cooperate in any kind for the commission of the offences referred to in Articles 139 or 148 Bis of the Federal Criminal Code or which may be located in the cases of Article 400 Bis of the same Code, and

II.    Present to the Secretariat, through the Commission, reports on:

a) The acts, operations, and services they perform with their Partners, relative to the previous fraction.

b) Any act, operation or service, which may be placed in the case provided for in part I of this Article or which, if any, may contravene or to breach the proper application of the provisions identified therein, which it carries out or where any member of the Board of Directors, administrator, manager, official, employee or proxy intervenes.

The reports referred to in Part II of this Article, in accordance with the general provisions laid down therein, shall be drawn up and submitted taking into account, at least, the arrangements which the effect of which is referred to in those provisions; the characteristics to be met by the acts, operations and services referred to in this Article for reporting, taking into account their amounts, frequency and nature, the monetary instruments and financial and commercial practices to be observed in the places where they are carried out, as well as the periodicity and systems through which the information is to be transmitted. Reports shall refer to at least operations which are defined by the general provisions as relevant, internal worrying and unusual.

Article 72.- The Secretariat in the general provisions referred to in Article 71 above shall issue the guidelines on the procedure and criteria that Cooperative Savings and Loan Societies with Operation Levels I to IV shall observe in respect of:

I.      The appropriate knowledge of their Partners, for which they must consider the background, specific conditions, economic or professional activity and the places in which they operate.

II.    The information and documentation provided by these Cooperative Savings and Loan Societies for the opening of accounts or the conclusion of contracts relating to the operations and services they provide and which fully accredit the identity of their Partners.

III.   The way in which the same Cooperative Savings and Loan Societies will have to safeguard and guarantee the security of information and documentation regarding the identification of their Partners and or those who have been, as well as those of those acts, operations and services reported in accordance with Article 71 above.

IV.    The terms to provide training within the Cooperative Savings and Loan Societies with Levels of Operation I to IV on the subject matter of this Article. The general provisions referred to in the previous 71 shall also indicate the terms for their due compliance.

V.     The use of automated systems that contribute to the compliance with the measures and procedures that are established in the general provisions of this Law.

VI.    The establishment of those internal structures that should function as areas of compliance in the matter, within each Cooperative Savings and Loan Society with Levels of Operation I to IV.

Cooperative Savings and Loan Companies with Operation Levels I to IV must retain, for at least 10 years, the information and documentation referred to in the (iii) above, without prejudice to the provisions of this or other applicable laws.

The Secretariat shall be empowered to require and collect, through the Commission, information and documentation relating to the acts, operations and services to which it is refers to section II of the previous Article 71. The Cooperative Savings and Loan Societies with Levels of Operation I to IV will be required to provide such information and documentation.

Cooperative Savings and Loan Companies with Operating Levels I to IV should immediately suspend the conduct of acts, operations or services with the Partners that the Secretariat of Finance and Public Credit informs them through a list of blocked persons that will have the character of confidential. The list of blocked persons shall be intended to prevent and detect acts, omissions or operations that may be placed in the cases provided for in the articles referred to in section I of Article 71 of this Law.

The suspension obligation referred to in the preceding paragraph shall cease to have its effects when the Secretariat of Finance and Public Credit removes from the list of persons blocked to the Partner in question.

The Secretariat of Finance and Public Credit will establish, in the general provisions referred to in this article, the parameters for determining the introduction or removal of people in the list of blocked people.

Compliance with the obligations under this Article shall not imply any breach of the provisions of Article 69 of this Law.

The general provisions and the guidelines that derive from them as referred to in this Article must be observed by the Cooperative Savings Societies. and Loan with Operating Levels I to IV, as well as by the members of the Board of Directors, administrators, officers, officials, employees and respective proxies, as well as by the members of the Auxiliary Oversight Committee, for which reason, Both the Cooperative and the Loan and Loan Companies, Persons referred to shall be responsible for strict compliance with the obligations laid down by those provisions.

The violation of the provisions referred to in this Article shall be sanctioned by the Commission in accordance with the procedure laid down in Article 99 of this Law, with an equivalent fine of 10 percent to 100 percent of the amount of the act, operation or service performed with a Partner that has been reported to be on the list of blocked persons referred to in this article; with a fine equivalent of the 10% to 100% of the amount of the unusual operation not reported or, if any, of the series of transactions related to each other of the same Partner, which should have been reported as unusual transactions; dealing with relevant, unreported, relevant internal transactions, as well as non-compliances to any of the fractions I, II, III or V of this article, shall be punished with a fine of 10,000 to 100,000 days of general minimum wage in force in the Federal District and in other cases of non-compliance to Article 71 of this Law or to this precept and to the provisions of the emanated, will be sanctioned with a fine of 1,000 to 30,000 days of general minimum wage in force in the Federal District.

The aforementioned fines may be imposed on the Cooperative Savings and Loan Companies with Operating Levels I to IV, as well as to the members of the Board of Management, administrators, members of the Auxiliary Supervisory Committee, managers, officials, employees and their respective proxies, as well as the natural and moral persons who, by reason of their acts, have caused or intervened to These Cooperative Savings and Loan Companies incur the irregularity or are responsible for the same. Without prejudice to the foregoing, the Commission may, in accordance with the circumstances of each case, proceed as provided for in Article 94 of this Law.

The public servants of the Secretariat and of the Commission, the Cooperative Savings and Loan Societies with Levels of Operation I to IV, the members of their councils of administration, administrators, managers, officials, employees and proxies, as well as members of the Auxiliary Supervisory Committee, shall refrain from reporting any reports and other documentation and information referred to in this Article. Article, persons or authorities other than those expressly authorized in the related orders to require, receive or retain such documentation and information. The violation of these obligations will be sanctioned in the terms of the corresponding Laws.

Article 73.- Unless otherwise specified in the specific provisions, the deadline may not exceed 3 months for the administrative authorities to resolve (i) After the period applicable, the decisions shall be deemed to be negative to the person concerned, unless otherwise provided for in the relevant provisions or if the relevant application is accompanied by an opinion or a favourable opinion of the Auxiliary Supervision Committee provided that this is required in this Law or in the provisions of this Law. At the request of the person concerned, a record of such a circumstance shall be issued within 2 working days of the filing of the respective application with the competent authority to be resolved, in accordance with the respective Rules of Procedure. Such constancy shall be issued where the specific provisions provide for the termination of the decision to be deemed to be positive. If the evidence referred to above is not issued within the time limit, the liability to be applied shall be determined.

The filing and timing requirements, as well as other relevant information, applicable to the promotions that the Cooperative Savings and Loan Companies and the Protection Fund shall be specified in provisions of a general nature.

Where the initial document does not contain the data or does not comply with the requirements laid down in the applicable provisions, the authority shall prevent the data subject from written and for once, so that within a term that cannot be less than 10 working days, the omission will be subsane. Unless otherwise specified in the specific provisions, such prevention shall be made no later than half of the time limit for the response of the authority and, where this is not expressed, within 20 working days of the date of the notification. presentation of the initial document.

Notified of prevention, the time limit for the administrative authorities to be resolved shall be suspended and resumed from the immediate working day following that in which the the interested person replied. In the event that prevention is not disapproved in the designated term, the authorities will discard the initial document.

If the authorities do not make the information requirement within the relevant time limit, they will not be able to reject the initial writing as incomplete.

Unless otherwise stated, the time limits for the authorities to reply shall begin to run on the immediate working day following the submission of the written procedure. corresponding.

Article 74.- The competent administrative authorities, at the request of the interested party, may extend the time limits laid down in this Law, without In any event, the extension exceeds half the time limit originally provided for in the applicable provisions, where the case so requires and they have no knowledge that third parties are harmed in their rights.

Article 75.- Articles 73 and 74 shall not apply to the administrative authorities in the exercise of their supervisory powers, inspection and surveillance.

Chapter II

Of the corrective measures

Article 76.- The Commission will classify the Cooperative Savings and Loan Societies with Operational Levels I to IV in one of the 4 categories to which it is refers to Article 77 of this Law, according to its adequacy to the Capitalization Levels, which will establish by general provisions the capitalization ranges that will determine each of these categories.

Article 77.- Unlimitative and non-limiting, the Cooperative Savings and Loan Societies with Operation Levels I to IV must comply with the indicated below, depending on the level of Capitalization in which they are classified:

I.      For companies that qualify as category 1, they shall not be subject to minimum corrective measures or special corrective measures.

II.    Companies which are classified within category 2

:

a) Inform your Board of Directors of your classification, as well as the causes that prompted it, for which you will be required to submit a detailed report of comprehensive assessment of its financial position, which points to compliance with the regulatory framework and includes the main indicators reflecting the degree of stability and solvency of the Company.

b) Refrain from holding operations that lead them to be classified within a lower Capitalization Level.

c) Adjust the following immediate payment of the deposit insurance fees according to the methodology that the effect is set.

III.   Companies which are classified within category 3 shall, in addition to the obligations laid down for companies classified in category 3, inter alia, carry out the following actions:

a) Suspend contributions to the social work fund.

b) Suspend the payment of surplus or any other mechanism involving a transfer of property benefits to the Partners.

c) Within a period of no more than 15 working days, submit for approval of the Auxiliary Oversight Committee, a capital restoration plan that has the This is an increase in the level of Capitalization, which will be able to contemplate an improvement program in operational efficiency, rationalization of expenses and increase in profitability, the realization of contributions to the social capital and limits to the operations which the Society concerned may carry out in compliance with its object (a) social security or the risks arising from such operations. The capital restoration plan shall be approved by the Board of Directors of the Company concerned before being submitted to the Auxiliary Oversight Committee.

The Company shall determine in the capital restoration plan that pursuant to this paragraph must present, periodic targets, as well as the time limit in which the Society shall obtain the level of Capitalisation required in accordance with the applicable provisions.

The Auxiliary Supervisory Committee shall decide on the capital restoration plan submitted to it within a maximum period of 30 years. natural days counted from the date of submission of the plan.

The above, without prejudice to the fact that, within the period referred to in the preceding paragraph, the Auxiliary Supervisory Committee may request the Company to amendments which it considers appropriate with respect to the same, where it is necessary for the approval of the Company to ratify the Board of Directors within a period of no more than 15 calendar days.

the Cooperative Savings and Loan Societies to which the provisions of this paragraph apply, must comply with the plan of restoration of capital in a a period which may not exceed 270 calendar days from the day following the notification to the Company of the respective approval. The Commission may extend this period by considering the improvements observed in the Company and the reasons for the delay in the implementation of the plan.

d) Suspend payment of extra extra bonuses and bonuses to the salary of the director or general manager and officials of the immediate level less than this, until as long as the Company complies with the levels of Capitalization required in accordance with the applicable regulation. This forecast shall be contained in the contracts and other documentation governing the working conditions with these persons.

IV.    To companies classified within category 4, the provisions of Article 78 of this Law shall apply to them.

The Cooperative Savings and Loan Companies should provide for the implementation of corrective measures within their constituent bases.

Article 78.- In the event that a Cooperative Savings and Loan Company with Operating Levels I to IV is classified in Category 4 as the Section IV of Article 77 of this Law, the Commission may request the removal of the director or general manager and the Board of Directors, and shall inform the Committee on the Protection of Cooperative Savings and the Auxiliary Oversight Committee. The Cooperative Savings Protection Committee will require the Society in question to convene an extraordinary General Assembly of Partners to inform them of the situation in which the Cooperative Savings and Loan Company is located, and If necessary, proceed to the appointment of the persons who will be in charge of the administration of the Company, as well as to make the selection of some of the mechanisms outlined in Article 85 of this Law.

In case the Society concerned refuses to convene the aforementioned assembly within 15 days of the date on which the said assembly would have been notified of the order referred to in the preceding paragraph, the latter being empowered to issue the relevant call.

Notwithstanding the foregoing, the Commission shall, in the light of the situation of the Society concerned, at any time be able to proceed in accordance with Article 80 of this Regulation. Law.

Article 79.- When any operation that is considered irregular, which does not affect stability or the security, is removed from the opinions of the Auxiliary Oversight Committee the solvency of the Cooperative Savings and Loan Company and does not put at risk the interests of the savers, said committee, after hearing of the Cooperative Society of Savings and Loan in question, shall inform the Technical Committee and the Commission, to the effect that the latter order the Cooperative Society of Savings and Loan in question, the application of the measures deemed necessary, without prejudice to the penalties provided for in accordance with the provisions of Title 7 of this order.

Chapter III

From the intervention with management character

Article 80.- When in the Commission's judgment there are serious or repeated irregularities, in contravention of the provisions of this Law, in the Cooperative Societies In the case of savings and loans with levels of Operation I to IV or determined that the interests of the savers are at risk, or the stability or significant manner, the solvency, of those, the president of the Commission may immediately declare the intervention as management and designate the natural person to take charge of the respective Cooperative Savings and Loan Company, with the character of the manager-manager.

The financial controller should inform the Cooperative Savings Protection Committee of the state of the Cooperative Savings and Loan Company, in order to that it adopts one or more of the mechanisms referred to in Article 85 of this Law.

Article 81.- The manager-manager shall have all the powers that correspond to the Board of Directors and the Director or General Manager of the Company Savings and Loan Cooperative with Operating Levels I to IV, being obligated to provide you with all the information and to grant you the facilities that you require for the performance of your duties.

You will also have full powers for domain, administration, litigation and collection acts, with the powers that require special clause under the Law, in order to grant and subscribe to credit certificates, to file complaints and complaints and to withdraw them, following agreement with the President of the Commission and to grant the general or special powers that he deems appropriate, and to revoke the which are awarded by the Cooperative Society of Savings and Loan

b) for which the person concerned has been involved.

The manager-manager will not be subject to its action to the Assembly of Partners or to the Board of Directors; but the Assembly of Partners will be able to continue meeting regularly to learn about the issues that are up to you and the same can be done by the council to be informed by the manager-manager about the operation and operations of the Cooperative Society of Savings and Loan and for the opinion of the on matters which the same financial controller submits to his consideration. The financial controller-manager may quote a meeting of the Board of Directors and meetings of the Board of Directors for the purposes deemed necessary or appropriate.

In case of not being present the director or general manager at the moment of the intervention, the manager-manager will be understood with any official of the Society Saving and Loan Cooperative that is present.

In the case referred to in the preceding paragraph, the Director or General Manager shall be responsible for the acts and operations which he has carried out in contravention of the provisions of the this or other applicable Laws.

The trade that contains the appointment of a manager must be registered in the Public Registry of Commerce corresponding to the company's registered office Savings and Loan Cooperative, without more requirements than the respective trade of the Commission. When the Commission agrees to lift the intervention, it shall inform the public register in charge of the intervention, in order to ensure that the respective registration is cancelled.

Article 82.- In those cases provided for in Articles 78, 80 and 85 of this Law, persons who are in charge of the administration may determine the partial suspension of its operations or the closure of offices and branches, and must take the necessary measures to ensure that the Cooperative Society of Savings and Loan does not celebrate new savings and loan or credit operations and does not cover the obligations under his or her duties until some mechanism is adopted of those provided for in the Title Sixth of this Act.

The above, with the exception of the payment to the Saver Partners that may be up to 50 percent of the amount guaranteed by the deposit insurance account of the Fund Protection for the Cooperative Society of Savings and Loan in question, in accordance with the determination of the Cooperative Savings Protection Committee, provided that the deposits are liquid and enforceable. Such payments shall be deducted from the guaranteed amount referred to in Article 54 of this Law.

The amount of deposits that would not have been paid in accordance with the foregoing will be renewed at the same interest rates originally agreed upon and up to the date when adopt the corresponding mechanism.

Chapter IV

Of the forced liquidation and revocation of the authorization

Article 83.- The Commission may order the dissolution and liquidation of the Cooperative Savings and Loan Societies with the level of basic operations to which refers to Section 1 of Chapter III of Title II of this Law, after hearing the Cooperative Society of Savings and Loan in question, in the following cases:

I.      If the Cooperative Savings and Loan Company does not credit the registration referred to in Article 7 of this Law.

II.    If the Cooperative Savings and Loan Company repeatedly refuses to provide information, or in a dolous manner, presents false, inaccurate or incomplete information to the Auxiliary Supervisory Committee or the Commission, as well as to the Federation, dealing with the assumption provided for by the second paragraph of Article 8 of this Law.

III.   When the number of Partners becomes lower than the minimum in the General Law of Cooperative Societies.

IV.   If the Commission confirms the assumptions to be classified in category D in accordance with Article 15 Bis.

The Commission must make known to the Company concerned and in a manner prior to ordering its dissolution and liquidation, the updating of any of the (a) in order to ensure that such a company is not in a position to comply with the conditions laid down in Article 3 (2) of Regulation (EC) No 1290/90; Once the Cooperative Savings and Loan Company in question has been heard, and whenever the detected non-compliances persist, the Commission shall issue the order of dissolution and duly substantiated and reasoned liquidation, as a result of a decision administrative procedure, previously exhausted the administrative procedure, and verifying the essential formalities.

The order issued by the Commission will incapacitate the Cooperative Society of Savings and Loan in question to carry out its operations from the date it is notify the same and shall be in a state of dissolution and liquidation, without the need of the agreement of the Assembly of Partners. This order of dissolution and liquidation shall be entered in the Public Registry of Commerce corresponding to the registered office of the Cooperative Society of Savings and Loan in question. In any event, the charge of liquidator shall be borne by some of the persons referred to in Article 91 (IV) of this Law.

The Commission may promote before the judicial authority to appoint the liquidator, if within 60 working days following the registration of the order to which it is refers to the first paragraph of this Article, has not been designated. Where the Commission itself finds that it is impossible to carry out the liquidation of the Cooperative Savings and Loan Company, it may make it known to the competent judge to order the cancellation of its registration in the Public Registry of Commerce, which shall have its effects within 180 working days from the judicial order. Interested parties may object to such cancellation within 60 working days before the judicial authority itself.

Article 84.- The Commission may declare the revocation of the authorizations granted in terms of Article 10 of this Law to the Cooperative Societies of Saving and Loan with Levels of Operation I to IV, after having heard the opinion of the Committee of Auxiliary Supervision and after hearing of the interested Society, in the following cases:

I.      If the minimum capital of the Cooperative Savings and Loan Company is not fully paid.

II.    If you do not credit the Commission with its participation in the Protection Fund in the terms of this Law.

III.   If it does not comply with the capitalization requirements set out in accordance with Article 31, fraction VI, and the provisions to which that precept refers.

IV.    If the Cooperative Savings and Loan Company generates losses that are below its minimum capital.

The Commission may set a time limit which shall not be less than 60 working days and not more than 90 days In order for the capital to be reintegrated into the amount necessary to maintain the operation of the Cooperative Savings and Loan Company within the legal limits.

V.     When the number of Partners becomes lower than the minimum in the General Law of Cooperative Societies.

VI.    If you conduct operations in violation of the provisions of this Law, the General Law of Cooperative Societies or the provisions of this Law, or if you abandon or suspend your activities.

VII. If, in spite of the Commission's observations, the Cooperative Society for Savings and Loan carries out operations other than those permitted, it does not comply with the general provisions applicable or is in danger with its administration of the interests of its Partners, or of its social object, in accordance with the provisions of this Law and the General Law of Cooperative Societies.

VIII.            When for reasons attributable to the Cooperative Society of Savings and Loan, the operations it has carried out shall not appear due and in due time recorded in its accounts.

IX.    If the Cooperative Savings and Loan Company does not comply with any of the minimum corrective measures; it does not comply with more than one additional special corrective measure, or it consistently fails to comply with an additional special corrective measure. The foregoing in the terms, deadlines and conditions determined by the Commission by means of general provisions referred to in Article 76 of this Law.

X.     If the Cooperative Savings and Loan Company is repeatedly refusing to provide information, or in a dolous manner, it presents false, inaccurate or incomplete information to the Auxiliary Oversight Committee, to the Savings Protection Committee. Cooperative, or the Commission.

XI.    If the Cooperative Society of Savings and Loan works without authorization from the Commission, in cases where the Law so requires.

XII. If it is dissolved, liquid or broken.

XIII.            In case you do not make payments for auxiliary monitoring fees for 1 year, or do not make 6 payments for deposit insurance fees within 1 year.

XIV. At the request of the Cooperative Savings and Loan Company itself, when the total amount of its assets is less than 2 ' 500,000 UDIS.

XV.   In any other established by this Law.

The revocation declaration will be entered in the Public Registry of Commerce corresponding to the registered office of the Cooperative Society of Savings and Loan (a) shall be published in the Official Journal of the Federation and shall be published in 2 newspapers of broad circulation in the geographical area in which it operated.

The revocation, except in the case of the alleged assumption by the previous 13th fraction, will incapacitate the Cooperative Society of Savings and Loan in question for carry out its operations from the date on which it is notified and put it in a state of dissolution and liquidation, without the need for the agreement of the Assembly of Partners. In any event, the charge of liquidator shall be borne by some of the persons referred to in Article 91 (IV) of this Law.

Cooperative Savings and Loan Companies with Operation Levels I to IV, once revoked, will be able to continue operating without authorization from the Commission as long as when they are subject to the provisions of Section 1 of Chapter III of Title II of this Law.

The Commission may promote before the judicial authority to appoint the liquidator, if within 60 working days of the publication of the revocation, he has not been appointed. Where the Commission itself finds that it is impossible to carry out the liquidation of the Cooperative Savings and Loan Company with Levels of Operation I to IV, it may do so from the knowledge of the competent judge to order the cancellation of its registration in the Public Registry of Commerce, which will take its effects within 180 working days from the judicial order. Interested parties may object to such cancellation within 60 working days before the judicial authority itself.

TITLE SIXTH

OF THE SPLIT, MERGE, DISSOLUTION, AND SETTLEMENT OR MERCHANT CONTEST

Single Chapter

Article 85.- The Cooperative Savings Protection Committee may determine the implementation by the Cooperative Savings and Loan Companies with Levels of Operation I to IV of any of the following mechanisms:

I.      Excision.

II.    Merge.

III.   Other that contributes to reducing the risk of insolvency or bankruptcy.

IV.    Dissolution and liquidation, as well as commercial competition in terms of the General Law of Cooperative Societies and of the constitutive bases.

Article 86.- For the case that the Cooperative Savings Protection Committee determines some of the mechanisms to follow as referred to in Article 85 above, that committee may grant financial support to cover the costs arising from the implementation of the mechanisms adopted.

The Cooperative Savings Protection Committee shall have a term that shall not exceed 180 calendar days from the application of the measures to which it is refer to Articles 78 and 80, in order to determine from among the mechanisms mentioned in Article 85 of this Law, that which results in a lower cost for the Protection Fund. In this regard, the Cooperative Savings Protection Committee shall set the time limits it considers appropriate to comply with each of the actions forming part of the selected mechanism.

The selection of the mechanism to be adopted should be carried out on the basis of a technical study, prepared by an external auditor and approved by the Committee for the Protection of Savings Cooperative, which justifies the suitability of such a mechanism.

Article 87.- When the Cooperative Savings Protection Committee determines the application of any of the mechanisms provided for by fractions I to III of the Article 85 of this Law, in no case, in the documents in which the necessary acts are implemented, may be established by the Fund for Protection, the payment of amounts exceeding the amount to be covered for the money deposits of the savers in terms of Article 54 of the Law, except in the case of the assumption provided for in the second paragraph of Article 55 (II) of this Law.

Such financial support may be guaranteed with the assets of the Cooperative Savings and Loan Company, for which the person holding the administration may effect the corresponding warranty.

Article 88.- If the Cooperative Savings and Loan Company with Operating Levels I to IV, requires being capitalized to implement the mechanisms envisaged by the Fractions I to III of Article 85 of this Law, the Cooperative Savings Protection Committee, in exercise of the corporate rights of the corresponding companies ' contribution certificates in accordance with Article 87 of the present Law, it may make the necessary capital contributions according to the next:

I.      You must perform the acts aimed at applying the positive items of the book capital of the Cooperative Society of Savings and Loan to the absorption of losses that has the same.

II.    The application to which the previous fraction refers, will reduce the share capital and to make an increase that will subscribe and will pay the Committee of Protection to the Cooperative Savings, with charge to the account of the deposit insurance of the Protection Fund.

Article 89.- For the case that the Cooperative Savings Protection Committee determines as a mechanism to follow the dissolution and liquidation of the Company Savings and Loan Cooperative with Operating Levels I to IV, and the consequent payment of deposits of money, the liabilities in charge of the Cooperative Society of Savings and Loan will be covered in accordance with the provisions of Chapter IV of the this Title.

Article 90.- The Savings and Loan Cooperative Societies, regardless of their level of operations, will be dissolved for the following reasons:

I.      By the consent of the Assembly of Partners.

II.    Because the number of Partners becomes less than the minimum established by the General Law of Cooperative Societies.

III.   For the impossibility of continuing to carry out the object of the Cooperative Society of Savings and Loan.

IV.    Because you are revoked the authority to continue performing operations.

V.     By resolution of the Cooperative Savings Protection Committee in terms of this Law.

VI.    By judicial resolution.

Article 91.- The dissolution, liquidation and, where applicable, commercial tender of the Cooperative Savings and Loan Societies with Levels of Operation I to IV, shall be governed by the provisions of the applicable legislation, in so far as it does not object to the provisions of this Law, and to Title Eighth, Chapter II of the Law on Commercial Concourses, with the following exceptions:

I.      The Cooperative Savings Protection Committee shall be responsible for taking decisions regarding the powers of the liquidator and liquidator. This charge may be paid to the financial controller, in the event that the Cooperative Savings and Loan Company is brought in by the Commission, on the basis of the fact that the latter is in the state of liquidation or the commercial tender is declared, in question, or in which the Committee for the Protection of Cooperative Savings decides. Notwithstanding the foregoing, the Commission may, at any time, proceed in accordance with the provisions of the last paragraph of Article 37 of this Law.

II.    As from the date on which a Cooperative Savings and Loan Company enters into liquidation or is declared to be in a commercial tender, the payments resulting from its operations shall be suspended until as long as the Cooperative Savings Protection Committee Resolve the conductive.

III.   They may demand the declaration of a commercial competition from a Cooperative Society of Savings and Loan, requesting that it initiate in the stage of bankruptcy, the Committee for the Protection of the Cooperative Savings or the Commission, in terms of the provisions applicable.

IV.    The charge of the liquidator may be placed in credit institutions, in the Service of Administration and in the disposal of goods, or in natural or moral persons with experience in the settlement of companies.

In the case of natural persons, the appointment shall be made by a person who meets the following requirements:

a) Being resident on national territory in terms of the provisions of the Federation's Fiscal Code.

b) Be enrolled in the register that is carried by the Federal Institute of Commercial Concourse Specialists.

c) Submit a special credit report, in accordance with the Law to regulate Credit Information Societies, provided by information societies a credit that contains his or her background of at least 5 years prior to the date on which the charge is to be initiated.

d) Do not have pending litigation against the Society in question.

e) Not having been sentenced for property offences, not being disabled for trade or for employment, office or commission in the service public, or in the Mexican financial system.

f) Not to be declared broken or unbroken.

g) Not having held the office of external auditor of the Society concerned, for the immediate 12 months prior to the date of appointment.

Dealing with moral persons, the natural persons designated to carry out the activities linked to this function, must comply with the requirements to which reference this fraction.

Article 92.- As of the date on which the demand for commercial competition from some Cooperative Savings and Loan Company is admitted with Operating Levels I to IV, in the terms of Article 91, fraction III, it shall suspend the performance of any type of operations.

The Cooperative Savings Protection Committee or the Commission shall request the judge to implement the necessary precautionary or award measures. It shall be the responsibility of the Cooperative Savings Protection Committee or the Commission to propose to the judge the designation, removal or replacement, where appropriate, of the liquidator of the commercial competition of a Cooperative Savings and Loan Company with Levels of Operation I to IV.

The proposals for the disposal of the receiver, with the approval of the Cooperative Savings Protection Committee, cannot be objected to by the Cooperative Society. Savings and Loan with Operating Levels I to IV.

When the commercial competition of a Cooperative Savings and Loan Company with Operation Levels I to IV is declared, the procedure will be initiated in all cases in the stage of bankruptcy.

TITLE SEVENTH

OF SANCTIONS, CRIMES, AND NOTIFICATIONS

Chapter I

Of administrative violations

Article 93.- Violations of this Law or of the provisions that are issued on the basis of this Act by the Secretariat or the Commission, by means of a resolution Founded and motivated, they will be sanctioned with administrative fine imposed by the aforementioned Commission, on the basis of days of general minimum wage in force for the Federal District, according to the following:

I.      Fine of 200 to 2,000 days of salary:

a) To the Cooperative Savings and Loan Societies with Operational Levels I to IV that do not provide the Auxiliary Oversight Committee, the Commission or the Secretariat, within the time limits laid down for this purpose, the information or documentation referred to in this Law or the provisions emanating from it, as well as by omitting to provide that required by the Secretariat, by the Commission or by the Auxiliary Monitoring Committee.

b) To the Cooperative Savings and Loan Societies with Operation Levels I to IV for not providing the Auxiliary Oversight Committee or the Commission, the quarterly or annual financial statements, within the time limits laid down in this Law or in the provisions emanating from it for such purposes. Likewise, to the aforementioned companies for not publishing the quarterly or annual financial statements, within the time limits set out in this Law or in the provisions that emanate from it for such effects.

(c) To independent external auditors and other professionals or experts who surrender or provide opinions or opinions to the Cooperative Societies of Savings and Loan with Levels of Operation I to IV, which incur violations of this Law or the provisions emanating from it for such purposes.

d) To the Cooperative Savings and Loan Societies with Operating Levels I to IV that do not comply with the provisions of Article 34 of this Law or the provisions referred to in that provision.

e) To the Cooperative Societies of Savings and Loan with Levels of Operation I to IV that do not comply with the provisions of Article 68 of this Law, as well as the provisions emanating from this.

f) To the Cooperative Savings and Loan Societies with Operating Levels I to IV that fail to comply with any of the provisions referred to in the fractions II, V, VIII and X of Article 31 of this Law.

II.    Fine of 500 to 3,000 days of salary, to the Cooperative Societies of Savings and Loan with Levels of Operation I to IV that do not comply with the provisions of Articles 32 or 40 of this Law or the provisions to which they refer precepts.

III.   Fine of 2,000 to 5,000 days of salary:

a) To the Cooperative Savings and Loan Societies with Operating Levels I to IV that fail to comply with the provisions referred to in section I of the Article 31 of this Law.

b) To the Cooperative Savings and Loan Societies with Operation Levels I to IV that oppose or impede the exercise of the powers that it is and other applicable provisions confer on the Secretariat or the Commission, as well as the Committees on Auxiliary Supervision and Cooperative Savings Protection. It will not be understood as an obstacle to assert the defense resources that the Law provides and in any case, prior to the sanction, the infringer must be heard.

IV.    Fine of 2,000 to 10,000 days of wages:

a) To the Cooperative Savings and Loan Societies with Operating Levels I to IV that give news or information on deposits, services or any type of operations in contravention of the provisions of Article 69 of this Law, as well as the provisions emanating from it.

b) To the Cooperative Savings and Loan Societies with Operational Levels I to IV that do not comply with the preventive and corrective actions ordered by the Commission, in the exercise of its powers in the field of inspection and surveillance, except those provided for in point (b) of section V of this Article.

c) To the Cooperative Savings and Loan Societies with Operating Levels I to IV that fail to comply with any of the provisions referred to in the Article 31 (III), IV, VI and VII of this Law.

d) To the Cooperative Savings and Loan Societies with Operating Levels I to IV that do not comply with the obligations provided for in Article 23 of this Law.

e) To the Cooperative Savings and Loan Societies with Operating Levels I to IV that do not comply with the guidelines and requirements provided for in Article 26 of this Law.

V.     Fine of 10,000 to 30,000 days of salary:

a) To the Cooperative Savings and Loan Societies with Operating Levels I to IV that provide, in dolous form, false, inaccurate or incomplete information the financial authorities as well as the Committees for Auxiliary Supervision and Cooperative Savings Protection, which has the consequence that its true financial, administrative, economic or legal situation is not reflected, as long as it is verify that the director or general manager or any member of the Council Management of the relevant Society was aware of such an act.

b) To the Cooperative Savings and Loan Societies with Operating Levels I to IV that do not comply with any of the corrective measures referred to in the Article 76 of this Law or the provisions of this Law.

VI.    A fine of 1,000 to 5,000 days ' salary shall be imposed on notaries, registrars, or public corridors that process or enroll acts that include operations prohibited by this Law, or authorize the holding of regulated operations. by this Law to persons other than the Savings and Loan Cooperatives. The same fine shall be imposed when the persons referred to above act without the Commission's authorisation for the cases in which it is necessary.

In the event that any of the violations contained in this article result in property damage or a benefit, the appropriate penalty may be imposed. the same one and a half times the equivalent of such damage or the benefit obtained by the infringer, whichever is greater. Profit or loss avoided for itself or for a third party shall be understood for profit.

Article 94.- The Commission may refrain from sanctioning the Cooperative Savings and Loan Societies with Operating Levels I to IV, provided they are justifies the cause of such abstention in accordance with the guidelines which the Board of Government of the Commission itself may issue for such purposes, and refer to acts, acts or omissions which are not serious, no recidivism, elements which make it possible to demonstrate that the interests of third parties or of the own financial system and do not constitute a crime.

Serious infringements shall be deemed to be in breach of the provisions of Articles 26; 31, fraction III and IV where damage, injury or damage to the Company is incurred. for the credit operation which is the subject of the non-compliance with the provisions referred to in that provision; 31, fraction VI, where the capital requirements are not met and the scheme provided for in Article III (3) is updated. 77 of this Law; 32, in the case of omissions or alterations of records accounting; 40, when there is damage, injury or bankruptcy to the company; 69; 70, first and second paragraphs; 71, fractions I for what it does to the lack of presentation to the National Banking and Securities Commission, of the policy document identification and knowledge of the partner and II, first paragraph, point (a) for unreported operations; 72, fractions V and VI; 76 and 77 of this Law. In any case, it will be considered as serious when the Commission is provided with false information or that it willfully mislead, by concealment or omission.

Article 95.- People who perform activities, services, or operations for which this Act provides that an authorization is required, without having it, shall be sanctioned with a fine of 1,000 to 25,000 days of salary, according to the following:

I.      To the moral persons and establishments other than the authorized ones who in their name use the words box, popular box, saving box, solidarity box, community box, rural box, financial cooperative, savings and credit cooperative, savings and loan cooperative or others expressing similar ideas in any language, except those excepted by the second paragraph of Article 3 of this Law.

II.    To moral persons and establishments other than those regulated by this Law which in their name express ideas in any language, for which it can be inferred that these are Cooperative Savings and Loan Societies.

Article 96.- The violation of any other precept of this Law or of the provisions that derive from it, other than those expressly mentioned in some other Article of this Law and which has no sanction especially noted in this order will be sanctioned with a fine of 1,000 to 5,000 days of salary, or 0.1 percent up to 1 percent of its minimum paid capital and capital reserves, depending on of the nature of the infringement.

Article 97.- In the administrative procedures provided for in this Law, the evidence leading to the acts subject to the procedure shall be permitted as long as they are offered within the time limit of the hearing guarantee. In the case of the confessional in charge of the authorities, the confessional must be de-drowned in writing.

Once the right of hearing referred to in Article 99 of this Law has been removed or the document is filed through which the review appeal is filed, provided for in Article 106, only supervenlient evidence shall be permitted, provided that the relevant resolution has not been issued.

The Commission may be entitled to the means of proof it deems necessary, as well as to agree on the admissibility of the evidence offered. Only the evidence provided by the persons concerned may be rejected where they are not offered in accordance with the law, are not related to the substance of the case, are imparted, unnecessary or contrary to morality or law. The assessment of the evidence shall be in accordance with the provisions of the Federal Code of Civil Procedure.

Article 98.- The power of the Commission to impose the administrative penalties provided for in this Law, as well as the provisions of it emanate, expire within 5 years, counted from the business day following the conduct of the conduct or the alleged infringement was updated.

The expiration period indicated in the immediate paragraph above will be interrupted at the beginning of the relative procedures. It is understood that the procedure in question has started from the notification to the alleged infringer of the trade by which the right of hearing is granted to it referred to in Article 99 of this Law.

To calculate the amount of the fines in those cases covered by this Law on the basis of days of salary, the general minimum wage will be based on the daily minimum wage. in force in the Federal District on the day on which the sanctioned conduct takes place or the assumption is updated that the corresponding penalty is due.

The fines that the Commission imposes must be paid within 15 working days of its notification. When the fines are not paid within the period indicated in this paragraph, the amount will be updated from the month in which the payment was made and until the payment is made, in the same terms as the Tax Code of the Federation for this type of assumptions.

If the infringer pays the fines imposed by the aforementioned Commission within the 15 days referred to in the preceding paragraph, a reduction shall be applied by 20%. percent of his/her amount, provided that no defense has been filed against such a fine.

Article 99.- The Commission, in the imposition of administrative penalties referred to in this Law, shall be subject to the following:

I.           Grant a hearing to the alleged infringer, who, within ten working days from the working day following the day on which the relevant notification takes effect, must state in writing what he or she is interested in appropriate, provide evidence and make submissions. The Commission may, at the request of a party, extend for a single occasion the period referred to in this section for up to the same period, for which it shall consider the particular circumstances of the case. The notification shall have effect on the working day following the day on which it is practised;

II.         if the alleged infringer does not make use of the right of hearing referred to in the preceding section, within the period granted or, having exercised it, he shall not be able to fade the charges discharged against him, they shall be (a) by credit for the offences charged and the corresponding administrative penalty shall be imposed;

III. For the imposition of the sanction will be taken into account, if any, next:

a) The impact to third parties or to the financial system that has produced or may produce the violation;

b) The recidivism, the causes that originated it, and, if applicable, the corrective actions applied by the alleged infringer. A repeat offender shall be deemed to have committed an infringement which has been sanctioned and, in addition to that offence, committed the same offence within the immediate 2 years following the date on which the decision was signed. corresponding.

The recidivism shall be punishable by a fine of the amount equal to twice the amount of the originally intended;

c) The amount of the operation;

d) The economic condition of the offender to the effect that the penalty is not excessive, and

e) The nature of the violation committed.

IV. Dealing with conduct qualified by this Law as serious, in addition to set out in section III of this article, may take into account any of the following:

a) The amount of the breach or property damage caused;

b) Profit obtained;

c) Lack of good repute by the offender, as provided by this Law and the general provisions of this Directive which emanate from it;

d) Inexcusable negligence or intent to act;

e) That the offending conduct referred to in the administrative process may be constitutive of a crime, or

f) The other circumstances that the Commission considers applicable for such purposes.

In any case, the resolution issued by the Commission shall be duly substantiated and substantiated.

Article 100.- The penalties shall be imposed by the Board of Government of the Commission, which may delegate that power, by reason of the nature of the infringement or the amount of the fine, the president or other public servants of that Commission.

Article 101.- The Commission may take into account the circumstances of each case, in addition to the imposition of the appropriate sanction, admonish the infringer, or only to admonish him, considering his personal history, the seriousness of the conduct, that there is no evidence to show that the interests of third parties or the financial system itself are affected, Having caused damage this has been repaired as well as the existence of attenuating.

Article 102.- The fines referred to in this Chapter may be imposed on the Cooperative Savings and Loan Companies with Operating Levels I to IV, as well as to the members of the Board of Directors, directors or general managers, officers, officials, employees or persons who hold a position, mandate, commission or any other legal title which the said companies grant to third parties for the performance of their operations, which they have incurred directly in the absence or have ordered the conduct of the conduct of the infringement. Without prejudice to the foregoing, the Commission may, in accordance with the circumstances of each case, proceed as provided for in Article 66 of this Law.

The fines imposed by the Commission on the Cooperative Savings and Loan Societies with Operation Levels I to IV will be made effective by the Secretariat, once the have been firm.

Article 103.- The Commission will consider as mitigating the imposition of administrative sanctions, when the alleged infringer accredits to the Commission (a) the damage caused, and the fact that it provides information that it helps to exercise the powers of the Commission in the field of inspection and surveillance, in order to be responsible.

Article 104.- The procedures for the imposition of the administrative penalties referred to in this Law shall be initiated regardless of the opinion of the offence. which, where appropriate, issues the Commission in terms of Article 109 of this legal order.

Article 105.- To protect the exercise of the right of access to government public information, the Commission is adjusting to the guidelines approved by its Board. The Government must make known to the general public, through its Internet portal, the sanctions that the effect imposes for violations of this Law or the provisions that emanate from it, for which it must point out:

I.           The name, name, or social reason for the offender;

II.         The precept infringed, the type of penalty imposed, amount or time, as appropriate and the offending conduct, and

III.        The state that holds the resolution, indicating whether it is firm or, if it is liable to be challenged, and in the latter case if any means of defence and its type have been filed, when such circumstances are known to have been duly notified by competent authority.

In any event, if the penalty imposed is left without effects by any competent authority, such a circumstance should also be published.

The above information will not be considered as reserved or confidential.

Article 106.- Those affected by the acts of the Commission that end the procedures for authorisations or the imposition of sanctions administrative, may seek to defend their interests by bringing an appeal for review, the interposition of which will be optional.

The review facility must be in writing within 15 working days of the date on which the notification of the respective act takes effect and must be submitted to the Governing Board of the Commission, where the act has been issued by the Board or by the President of the Commission, or to the latter in the case of acts performed by other public servants.

The writing by which the review facility is interposed should contain:

I.      The name, name, or social reason for the appellant.

II.    Home to hear and receive all kinds of appointments and notifications.

III.   The documents that the personality of who promotes is credited with.

IV.    The act that is used and the date of its notification.

V.     The grievances that are caused to him in the event indicated in the previous section IV.

VI.    The evidence to be offered, which must be immediately and directly related to the contested act.

Where the appellant does not comply with any of the requirements referred to in fractions I to VI of this Article, the Commission shall prevent it, in writing and for the sole (a) to ensure that the omission prevented within 3 working days of the notification of such prevention and, if the omission is not remedied within the time limit referred to in this paragraph, the Commission shall have such notification. for not interposed. If the tests will be omitted they will be held for not offered.

Article 107.- The interposition of the review facility will suspend the effects of the contested act in the case of fines.

Article 108.- The organ responsible for resolving the review facility can:

I.      Discard it for improper.

II.    Excel in the following cases:

a) For express withdrawal of the appellant.

b) For over-coming a causal of improvenance.

c) For having ceased the effects of the contested act.

d) Other than under the Act proceed.

III. Confirm the contested act.

IV. Revocar totally or partially the contested act.

V. Modify or command to replace the contested act or to dictate or order to issue a new one replace.

The administrative acts may not be revoked or modified in the non-contested part by the appellant.

The body responsible for resolving the review appeal should be treated without the intervention of the public servant of the Commission which has ruled the sanction. administrative that has caused the imposition of the corresponding resource.

The resolution of the review resources shall be issued within a period not exceeding 90 working days after the date on which the appeal was filed, when it must be resolved by the President of the Commission, or at 120 working days in the case of resources which fall within the competence of the Governing Board.

The Commission should provide for mechanisms to avoid conflicts of interest between the area that issues the resolution object of the appeal and the one that resolves it.

Chapter I BIS

From AutoCorrect Programs

Article 108a.- The Cooperative Savings and Loan Societies with Levels of Operation I to IV, through its director or general manager and with the opinion of the Supervisory Board may submit to the authorization of the Commission a programme of self-correction when the Society concerned, in the performance of its activities, or the Supervisory Board as a result of the functions it has (a) the law of the Member States of the European Commission applicable provisions.

They may not be subject to a self-correction program in the terms of this Article:

I.           The irregularities or non-compliances that are detected by the Commission in exercise of its powers of inspection and surveillance, prior to the presentation by the Cooperative Society of Savings and Loan with Levels of Operation I to IV of the respective self-correction program.

The irregularity was deemed to have been previously detected by the Commission in the case of the surveillance powers, where the Cooperative Savings and Loan Company has been notified with Operation Levels I to IV the irregularity; in the case of the inspection powers, when it has been detected in the course of the inspection visit, or corrected after it has been mediated requirement during the course of the visit;

II.         When the violation of the standard in question corresponds to one of the crimes referred to in this Law, or

III.        In the case of any of the violations considered as serious in terms of this Law.

Article 108 Bis 1.- The self-correction programs referred to in Article 108 Bis of this Law shall be subject to the general provisions of this Law. the Commission. Additionally, they will be signed by the chairman of the Supervisory Board of the Cooperative Savings and Loan Society with Levels of Operation I to IV and will be presented to the Board of Directors in the immediate post-session session. application for authorisation submitted to the Commission. It shall also contain any irregularities or non-compliance with the provisions which have been considered to be contrary to the effect; the circumstances which gave rise to the irregularity or non-compliance with which it was committed; actions taken or intended to be taken by the Company to correct the irregularity or non-compliance that prompted the programme.

In case the Cooperative Savings and Loan Company with Operating Levels I to IV requires a time limit to remedy the irregularity or non-compliance committed, the self-correction program shall include a detailed calendar of activities to be performed for that purpose.

If the Commission does not order the Company to make amendments or corrections to the self-correction programme within 20 working days of its presentation, the program will be authorized in all its terms.

When the Commission orders the Cooperative Society of Savings and Loan with Levels of Operation I to IV modifications or corrections for the purpose of the program being comply with the provisions of this Article and other applicable provisions, the corresponding Company shall have a period of five working days from the respective notification to remedy such deficiencies. That period may be extended for only five additional working days, subject to the authorisation of the Commission.

If the deficiencies referred to in the preceding paragraph are not remedied, the self-correction programme shall be for failure to be submitted and, accordingly, for irregularities. or non-compliances committed may not be the subject of another self-correction programme.

Article 108 Bis 2.- For the duration of the self-correction programmes authorised by the Commission in terms of Articles 108 Bis and 108 Bis 1 of This system will refrain from imposing on the Cooperative Savings and Loan Societies with Levels of Operation I to IV the penalties provided for in this Law, due to irregularities or non-compliances whose correction includes such programs. In addition, the time limit for imposing the penalties shall be interrupted for such a period, resuming until it is determined that the irregularities or non-compliance of the self-correction programme have not been remedied.

The Supervisory Board will be obliged to follow up on the implementation of the authorised self-correction programme and report its progress to the Council of Administration and the Director or General Manager as the Commission in the form and terms which it lays down in the general provisions referred to in Article 108 Bis 1 of this Law. The above, irrespective of the power of the Commission to monitor, at any time, the degree of progress and compliance with the self-correction programme.

If, as a result of the reports of the Supervisory Board or of the Commission's inspection and surveillance tasks, the Commission determines that the Irregularities or non-compliances which are the subject of the self-correction program within the prescribed period, will impose the corresponding penalty, increasing the amount of the program by up to 40 percent; being updatable said amount in terms of tax provisions applicable.

Article 108 Bis 3.- Natural persons and other moral persons subject to the supervision of the Commission may submit to the authorization of the Commission itself a a self-correction programme where, in the performance of its activities, irregularities or non-compliance with the provisions of this Law and other applicable provisions are detected, subject to the provisions of Articles 108 Bis to 108 Bis 2 of this Law, as applicable.

Chapter II

Of Crimes

Article 109.- In the cases provided for in Articles 110 to 117 of this Law, it shall be carried out interchangeably at the request of the Secretariat, upon the opinion of the Commission; or at the request of the Society concerned, or of whom it has legal interest.

In order to determine the amount of the operation, bankruptcy or property damage provided for in this chapter, they will be considered as salary days, the general minimum wage The law in force in the Federal District, at the time of committing the crime in question.

The provisions of the above Articles do not preclude the imposition of the penalties that under other laws are applicable, by the commission of another or other crimes.

Article 110.- They will be punished with imprisonment of 2 to 10 years and fine of 500 to 50,000 days of salary, directors, directors or general managers and others managers or employees or external auditors of the Cooperative Savings and Loan Societies with Operational Levels I to IV or those directly involved in the operation:

I.      That they omit or order to omit to register in the terms of Article 32 of this Law, the operations carried out by the Society in question, or alter or order to alter the records to conceal the true nature of the operations performed, affecting the composition of assets, liabilities, contingent accounts or results.

II.    Submit to the Commission false or altered data, reports or documents on the creditworthiness of the debtor or on the value of the guarantees protecting the claims.

III. Destroy or order the systems or records to be completely or partially destroyed accounting or supporting documentation that originates from the respective accounting entries, prior to the expiration of the legal retention periods.

IV. Destriyan or order to be completely or partially destroyed, information, documents, or files, including electronic files, for the purpose of preventing or obstructing the oversight and oversight of the Commission, as well as the supervision of the Auxiliary Supervisory Committee.

V. They provide or allow false data to be included in documents, reports, opinions, opinions, studies or credit rating, to be submitted to the Commission or to the Auxiliary Supervisory Committee in compliance with the provisions of this Law.

VI. Knowing the falsehood about the amount of assets or liabilities, grant the loan or credit.

VII. What, knowing the vices referred to in section III of the following Article 111, grant the loan or credit, if the amount of the alteration has been determining to grant it.

Article 111.- It shall be punishable by imprisonment of 3 months to 2 years and fine of 30 to 2,000 days of salary when the amount of the operation, bankruptcy or property damage, as appropriate, do not exceed the equivalent of 2,000 days of salary.

When the amount of the operation, bankruptcy or property damage, as appropriate, exceeds 2,000 and not 50,000 days of salary, will be punished with prison from 2 to 5 years and fine of 2,000 to 50,000 days of salary.

When the amount of the operation, bankruptcy or property damage, as appropriate, exceeds 50,000 but not more than 350,000 days of salary, will be punished with prison of 5 to 8 years and fine of 50,000 to 250,000 days of salary.

When the amount of the operation, bankruptcy or property damage, as appropriate, exceeds 350,000 days of salary, will be punished with imprisonment of 8 to 15 years and fine of 250,000 to 350,000 days of salary.

Considering the amount of the operation, bankruptcy or property damage, the penalties provided for in this Article shall be imposed on:

I. People who for the purpose of obtaining a loan or credit, or holding a loan financial leasing or financial factoring contract provides a Company, false data on the amount of assets or liabilities of an entity or natural or moral person, if as a result it is bankrupt or property damage for the Cooperative Savings and Loan Companies with Levels of Operation I to IV.

Will be punished for up to half the penalties provided for in this article, those officials, employees, service providers, commission agents or Third party agents who participate in the application or process for the granting of the credit, and know the untruth of the data on the amounts of the assets or liabilities of the accredited, or that directly or indirectly alter or replace the information, to hide the actual data on those assets or liabilities.

II. Directors, officers, officials, employees or those directly involved in the operation who, falsify, alter, simulate or knowingly perform operations that result in bankruptcy or damage to the assets of the Cooperative Savings and Loan Societies with Levels of Operation I to IV.

shall be considered as falling within the provisions of the preceding paragraph and, consequently, subject to the same penalties, the directors, directors, officials or employees of the companies or those directly involved in the operations which:

a) Realise operations of the social object of companies with Partners whose status of insolvency is known to them, if it is foreseeable when performing the the operation which lacks the economic capacity to pay or to respond to the amount of the operations carried out that result in bankruptcy or damage to the assets of the Cooperative Society of Savings and Loan with Levels of Operation I to IV, treat.

b) Renueven loans, credits or lease contracts, partially or wholly due to the natural or moral persons referred to in the paragraph previous.

(c) To renew credits partially or fully due to the persons referred to in (a) above if it is foreseeable when the transaction is performed; they lack the economic capacity to pay or to respond to the amount of the sums credited, producing bankrupt or material damage to the Cooperative Society of Savings and Loan with Levels of Operation I to IV.

d) That knowingly, allow a Partner to have the character of the debtor, to divert the amount of the credit, loan or lease for the benefit of third parties, significantly reducing its ability to pay or respond to the amount of its obligation and, as a result, it is bankrupt or disaffected to the Cooperative Savings and Loan Company with Levels of Operation I to IV.

For the purposes of the first paragraph of this fraction, it is not considered that they cause a breach or damage to the equity of the Company. transactions to be held as part of the process of restructuring of payment transactions to be carried out in accordance with Article 23 of this Law.

III.   People who, in order to obtain loans or loans or for the purpose of concluding financial leasing or financial factoring contracts, present guarantees that do not correspond to reality, in such a way that the real value of the goods offer under warranty is less than the amount of credit or loan, lease or credit rights, resulting in bankruptcy or property damage to the Company.

IV.    Accredited persons who deviate a credit granted or a good given in financial leasing by a company for different purposes for which it was granted, if the source of resources used by the Company comes from promotion funds, trusts public bodies constituted by the Federal Government for economic promotion or international bodies.

V.     Partners who have the character of debtors, who do not allocate the amount of the loan or credit for the purposes agreed upon, and as a result of which it is bankrupt or material damage to the Company.

Article 112.- Directors, directors or general managers and other directors, officers and employees of the companies, or those directly involved in the transaction, which regardless of the charges or interests fixed by the respective company, in itself or by person has obtained from the subjects of loan or credit or of transactions with foreign currency, profits for its participation in the processing or granting of the credit, of the goods covered by the lease; of the contract of factoring or of transactions with foreign currency, will be punished with imprisonment of 3 months to 3 years and with fine of 30 to 500 days of salary when the profit is not valuable, or the amount of the profit does not exceed 500 days of salary, in the time to commit the crime; when the benefit exceeds that amount, they will be punished with imprisonment of 2 to 10 years and fine of 500 to 50,000 days of salary.

Article 113.- Directors, directors or general managers and other officers, officials, employees, partners, service providers, or agents who (a) they shall be subject to the conditions laid down in Articles 110 and 111 of this Law; they shall be punished for up to one half more than the penalties referred to in Articles 110 and 111 of this Law; provided for in the respective articles.

The above, without prejudice to the fact that those persons who determine or encourage the conduct of the conduct will also be criminally responsible. (a) whether or not they are unlawful under this Chapter or those which they carry out on the other hand.

Article 114.- They will be punished with prison sentences of 3 to 15 years and fine of up to 100,000 days of salary who carry out operations of the reserved for the Cooperative Savings and Loan Societies, without having the authorizations provided for in the Law or with the corresponding registration referred to in Article 13 of this Law.

The Commission, in carrying out investigations to determine the possible commission of the offence referred to in the previous paragraph, at any time and prior to the the issuing of a crime opinion to the Secretariat, may order as a precautionary measure the financial institutions subject to its supervision, the provisional and immediate immobilisation of the funds or assets registered or which may be related to the commission of the offence referred to in the first paragraph of this article.

The Commission itself, at any time and prior to the imposition of the sanction referred to in Article 108 Bis 1, fraction III of the Law on Credit Institutions, may to order the precautionary measure provided for in the preceding paragraph, in respect of moral persons who carry out operations reserved for the Cooperative Savings and Loan Societies, without having the authorization provided for in this Law or with the registration corresponding to Article 13 of this Law.

Provisional and immediate immobilisation shall be understood, the temporary prohibition to transfer, transfer, transfer, transfer, tax, move or withdraw funds or assets, where these acts are related to the conduct provided for in this Article.

Once the Secretariat makes the request referred to in Article 109 of this Law, it shall request the Public Ministry of the competent Federation to order a precautionary measure for the purpose of immobilizing the corresponding resources. If the precautionary measure issued by the Commission has not been derived from an investigation to issue the opinion of a crime to the Secretariat, or if no such opinion is issued because there are no elements, the Commission must grant the the right of hearing to the natural or moral person in respect of whose accounts the measure has been enacted within 10 working days, in order to resolve the conduct.

In addition, people who by themselves or through another person or through commercial names, by any means of a person, will be punished with imprisonment of one to six years. The public has been held in front of the public as Cooperative Savings and Loan Societies, without having the authorizations provided for in the Law.

Article 115.- The public servants of the Commission shall be punished, with the penalty set for the corresponding offences plus one half, as the offences referred to in Articles 110 to 112 and 114 of this Law, where:

I.      Hide the knowledge of your higher facts that are likely to constitute a crime.

II.    Allow management or employees of the Company to alter or modify records for the purpose of hiding facts that are likely to constitute a crime.

III.   Obtain or intend to obtain a benefit in exchange for refraining from informing your superiors that they are likely to constitute a crime.

IV.    Order or incite your children to alter reports in order to hide facts that are likely to constitute a crime.

V.     Incite or order not to file the petition referred to in Article 109 of this Law to whom you are entitled to do so.

Article 116.- A member of the Board of Directors, director or general manager and any other officer, official or other official shall be sentenced to imprisonment of 2 to 14 years. employee of a Company, which in itself or by person, money or otherwise to a public servant of the Commission, to make or omit a certain act related to its functions.

The same sanction will be imposed on the public servant of the Commission, which in itself or by interposita person request or obtain for himself or for another, money or anything else, for make or stop doing some act related to their functions.

Article 116 Bis.- Persons who hold any office, mandate, commission or any other legal title that, for the performance of the activities and operations which correspond to the Cooperative Savings and Loan Societies with Levels of Operation I to IV, they shall have granted them, shall be considered as officials or employees of such Societies, for the purposes of administrative responsibilities and penalties provided for in this Title.

Article 117.- The offenses provided for in this Law will only admit dolous commission. The criminal action in the offences provided for in this Law, which can be carried out at the request of the Secretariat, by the Offended Society, or by whom it has legal interest, shall be prescribed in three years from the day on which the Office or the Society or who have legal interest to have knowledge of the crime and the likely person responsible, and if they do not have that knowledge, in 5 years they will be computed according to the rules laid down in Article 102 of the Federal Criminal Code. Once the procedural requirement is met, the prescription will continue to run according to the rules of the Federal Criminal Code.

Article 118.- A fine of 500 to 5,000 days of salary shall be imposed on directors, directors or employees of the Cooperative Societies or moral persons who are constitute and/or operate at the basic level provided for in Section 1 of Chapter III, Title II of this Law, without the registration of the Register provided for in Article 7o. of this Law.

They will be punished with imprisonment of one to six years, the directors, directors or employees of the Cooperative Societies or moral people who, by altering the active or passive accounts or contract terms which they conclude, disclose, make or order the non-existent transactions or expenses to be recorded or to simulate or omit their actual, economic and financial condition, or which are the same as any other act or illegal operation or prohibited by the Law, generating in any of such cases may be broken or damage to the assets of the Cooperative Society or the moral person concerned, for economic benefit either directly or through an interposited person.

All persons who have been removed, suspended or disabled, by a firm resolution of the Commission, will be punished with imprisonment of 2 to 7 years, in terms of the provisions of Article 66 of this Law, continue to perform the functions in respect of which it was removed or suspended or, occupy a job, position or commission, within the Mexican financial system, despite being suspended or disabled for this.

Article 119.- The penalties provided for in this Law shall be reduced by one third when the damage has been repaired or the damage caused.

Article 119 Bis.- When the National Banking and Securities Commission presumes that a natural or moral person is conducting operations in contravention of the provided for in Article 4 of this Law, may appoint an inspector and the auxiliaries necessary to review the accounting and other documentation of the negotiation, undertaking or establishment of the natural or moral person, in order to verify whether is actually carrying out the abovementioned operations, in which case the Commission National Banking and Securities may order the immediate suspension of operations or proceed to the closing of the negotiation, undertaking or establishment of the natural or moral person concerned.

The procedure of inspection, suspension of operations and closure referred to in the previous paragraph is in the public interest. The provisions of Chapter 1 of Title V of this Law shall apply as appropriate.

Chapter III

From Notifications

Article 120.- Notifications of requirements, regular and special inspection visits, precautionary measures, requests for information, and documents, documents, sites, decisions to impose administrative sanctions or any act terminating the procedures for suspension, revocation of authorisations referred to in this Law, and acts which deny the authorisations referred to in this Law and the administrative resolutions that fall to the review resources and requests for forgiveness brought in accordance with the applicable laws, may be carried out in the following ways:

I.      Personally, as follows:

a) In the offices of the financial authorities, as provided for in Article 123 of this Law.

b) At the address of the person concerned or his or her representative, in terms of the provisions of Articles 124 and 127 of this Law.

c) Anywhere the data subject or his representative is located in the assumptions set out in Article 125 of this Act.

II.    By trade delivered by courier or certified mail, both with acknowledgement of receipt.

III.   For edicts, in the assumptions outlined in Article 128 of this Law.

IV.    By electronic means, in the case provided for in Article 129 of this Law.

With regard to the information and documentation to be displayed to the Commission inspectors under an inspection visit, the provisions of the inspection visit should be observed. a regulation issued by the Federal Executive, in the field of supervision, pursuant to Article 5, first paragraph of the Law of the National Banking and Securities Commission.

For the purposes of this Chapter, the Secretariat and the Commission shall be understood by financial authorities.

Article 121.- The authorizations, revocation of authorizations requested by the person concerned or his representative, the acts that come from the proceedings promoted to request of the person concerned and other acts other than those referred to in Article 120 of this Law, may be notified by the delivery of the trade in which the corresponding act is recorded, in the offices of the authority making the notification, collecting the signature and the name of the person receiving it in a copy of that office.

The financial authorities may also make such notifications by ordinary mail, telegram, fax, e-mail or courier when the person concerned or his representative is requested in writing by pointing out the data necessary to receive the notification, stating in the respective file, the date and time it was made.

Also, the acts referred to in the first paragraph of this Article may be notified by any of the forms of notification referred to in Article 120 of this Law.

Article 122.- The notifications of inquiry visits and the intervention declaration referred to in this Law shall be made in a single act and according to the provisions of the regulation referred to in the penultimate paragraph of Article 120 of this Law.

Article 123.- Personal notifications may be made at the offices of the financial authorities only when the person concerned or his representative is present. to the same and manifest their conformity in receiving the notifications; for which the person who carries out the notification shall, in duplicate, lift a record that complies with the regulation applicable to this type of act.

Article 124.- Personal notifications may also be made with the person concerned or with his/her representative, at the last address he has provided to the financial authority concerned or at the last address which it has appointed before the authority itself in the administrative procedure concerned, for which the minutes referred to in the second paragraph of this Article shall be drawn up Article.

In the event that the person concerned or his/her representative is not in the address mentioned, the person who carries out the notification will provide the person who In order to ensure that the person concerned or his representative waits for him at a fixed time on the following working day and in such a summons, he shall inform the person that he is not appearing at the time and on the day to be fixed, the notification shall be made by the person who In the case of the closure of the said address or the refusal to receive the address, the (a) the respective notification shall be made by means of instruction as provided for in Article 127 of this Law. Those who make the notification shall record the terms provided for in the penultimate paragraph of this Article.

The reference point of reference shall be made in duplicate and shall be addressed to the person concerned or his representative, indicating place and date of issue, date and time fixed in which he must wait for the notifier, who must establish his name, position and signature in that summons, the object of the appearance and the respective warning, as well as the name and signature of the person who receives it. If the latter does not wish to sign, such a circumstance shall be settled in the summons, without affecting its validity.

The day and time set for the practice of the due diligence of the summons shall be carried out by the person in charge of the diligence at the appropriate address, and By finding this, you will proceed to take up the minutes in the terms referred to in the penultimate paragraph of this Article.

In the event that you do not appear, the notification will be understood with any person who is at the address in which the due diligence is performed; for such effects will be recorded in the terms of this Article.

In any event, the person who carries out the notification shall, in addition to the circumstances referred to above, record his name, position and record in duplicate. signature, which was determined to be constituted and acted in the registered office, which notified the person concerned, his representative or person who attended the care, after identification of such persons, the trade in which the administrative act is which must be notified, shall also include the appointment of witnesses, place, time and date of release, identification details of the trade mark, means of identification displayed, name of the person concerned, legal representative or person who takes care of the care and of the designated witnesses. If the persons involved refuse to sign or receive the act of notification, that circumstance shall be recorded in the minutes, without affecting their validity.

For the appointment of witnesses, the person who carries out the notification shall require the person concerned, his representative or the person to attend the service to designate them; Case of refusal or that the appointed witnesses shall not accept the designation, shall be made by the notifier himself.

Article 125.- In the event that the person in charge of the notification does the search for the person or his/her representative at the address to which he/she is refers to the first paragraph of Article 124 of this Law, and the person with whom the diligence is understood to deny that it is the address of the person concerned or his representative, who carries out the diligence shall take the record to make such a circumstance. Such minutes shall, as appropriate, bring together the requirements laid down in the penultimate paragraph of Article 124 of this legal order.

In the case provided for in this precept, the person who carries out the notification may make the personal notification wherever the person concerned or his or her representative. For the purposes of this notification, the person who carries out the notification shall record in which it states that the person notified is of his or her personal knowledge or has been identified by 2 witnesses, in addition to establishing, in the course of the conduct, that provided for in the The last paragraph of Article 124, or to record the diligence before the public purse.

Article 126.- Notifications that are made by mail delivered by courier or certified mail, with acknowledgement of receipt, will have their effects on the day (a) the following is the case where the date of receipt is recorded in that acknowledgement.

Article 127.- On the assumption that the day and time indicated in the subpoena that was left in terms of Article 124 of this Law, who performs the notification shall be closed to the address concerned or the person concerned, his/her representative or who is in charge of the diligence, refuse to receive the trade mark of the notification, shall make effective the warning referred to in the above Cytatory. For such purposes, it shall carry out the notification, by means of an instruction which shall be affixed in a visible place to the address, annexed to the trade in which the act is to be notified, in the presence of 2 witnesses which the effect designates.

The reference instructor shall be drawn up in duplicate and shall be addressed to the person concerned or his representative. This instruction shall include the circumstances in which the notification by that means, place and date of issue was necessary; the name, position and signature of the person who lifts the instruction; the name, identification data and the signature of the witnesses; the indication that the person making the notification was satisfied that it was constituted and acted at the address sought, and the data identifying the trade in which the administrative act to be notified is recorded.

The instructional shall demonstrate the existence of the acts, acts or omissions that are recorded in it.

Article 128.- The notification by edicts shall be made in the event that the person concerned has disappeared, has died, his or her domicile or is unable to access it, and has no known representative or domicile on national territory or is abroad without leaving a representative.

For such purposes, a summary of the respective trade, in a national circulation newspaper, shall be published for 3 consecutive times, without prejudice to the authority the financial authority to notify the edict on the electronic page of the worldwide network called the Internet which corresponds to the financial authority which it notifies; indicating that the original office is at its disposal at the address which is also shall be noted in that edict.

Article 129.- Notifications by electronic means, with acknowledgement of receipt, may be made as long as the person concerned or his representative has accepted or expressly requested in writing from the financial authorities through the automated systems and security mechanisms that they establish.

Article 130.- The notifications that are not made under this chapter are legally construed and will have their effects on the business day following the person in which the person concerned or his representative is aware of its content.

Article 131.- For the purposes of this Act, you will be registered to hear and receive notifications related to the performance of your order. as members of the Board of Directors, directors or general managers, officials, directors who occupy the immediate hierarchy lower than that of the director or general manager, and other persons who are able to bind the companies with their firm regulated by this Law, the place where the Society is located which provide their services, unless such persons have written to the Commission a separate address, which must be located within the national territory.

In the cases referred to in the preceding paragraph, the notification may be made with any person in the said address.

For the purposes of this Article, the address of the Company shall be deemed to be the address of the Company as the last one provided to the Commission itself or in the proceedings administrative in question.

Article 132.- The notifications referred to in this chapter will have their effects on the following business day:

I.      They would have been personally effected.

II.    The respective trade has been delivered in the cases provided for in Articles 120 and 129.

III.   The last publication referred to in Article 128 has been made.

IV.    It has been effected by ordinary mail, telegram, fax, electronic means or courier.

ARTICLE FIRST TRANSIENTS

FIRST.- Cooperative Societies of any kind that at the date of entry into force of this Decree perform operations involving the collection of resources of their Partners for placement between them, they shall register with the Auxiliary Oversight Committee referred to in the Law to Regulate the Activities of the Cooperative Savings and Loan Societies by 31 January 2014 at the latest.

Dealing with the Cooperative Savings and Loan Societies that would have been authorized to organize and function as such by the National Banking and Securities in terms of the People's Savings and Credit Act, the Commission itself will have to make before the Committee of Auxiliary Supervision that it refers to the own Law to regulate the Activities of the Cooperative Societies of Savings and Loan, the registration referred to in the preceding paragraph, without the request for such a request of the Cooperative Society of Savings.

SECOND.- The Cooperative Savings and Loan Societies that have been authorized to organize and operate as such by the National Banking Commission and In terms of the Law of Savings and Popular Credit, they will be considered authorized in accordance with the provisions of Article 10 of the Law to regulate the Activities of the Cooperative Societies of Savings and Loan, so that they will be able to continue operating, without requiring a new authorization, provided it is adjust to the provisions of this legal order.

These Cooperative Savings and Loan Companies will have to modify their constituent bases as provided for in this Decree, in General Assembly. An extraordinary Partner to be held within three hundred and sixty calendar days following the date of publication of this Decree.

THIRD.- Cooperative Societies of any kind, other than those indicated by the previous Second Transitional Article, the total amount of which is based on the equivalent in national currency to 2 ' 500 000 UDIS which at the date of entry into force of this Decree carry out transactions involving the collection of resources of their Partners for placement between them and have not submitted an application for authorization before the National Banking and Securities Commission, will have until 31 March 2014 to constitute Cooperative Savings and Loan Companies in accordance with the General Law of Cooperative Societies and request the authorization of the National Banking and Securities Commission to continue carrying out operations of saving and lending. Notwithstanding the foregoing, the Auxiliary Supervisory Committee shall have a period of 180 days to deliver the opinion in respect of applications which it has received by 31 March 2014 at the latest; this time limit shall be given by the Committee on the the date on which the Auxiliary Supervision Committee has received the request, without the calculation of that time limit being suspended by the requirements of information or documentation by the Committee on Auxiliary Supervision of the requesting Society. The previous period may be extended by the Commission for a period of 90 additional days, where the Committee on Auxiliary Supervision so requests and in the Commission's opinion the reasons for this are justified. The reference authorisation may be requested, provided that the companies referred to are in accordance with the following:

I. The General Assembly of the Partners of the Society concerned, by 31 January 2014 at the latest, agrees to carry out the necessary acts to constitute a Cooperative Savings and Loan Company in accordance with the General Law of Cooperative Societies and obtain the authorization of the National Banking and Securities Commission to continue to carry out savings and loan operations and to secure to the terms and conditions provided for in this Article. Such an agreement of the assembly shall include its consent for the Society to be evaluated and classified, stating in addition that it knows and agrees with the content of the methodology and criteria that are used for the purposes of the assessment and classification, as well as the conformity of the respective assembly for the Company to assume the obligations arising out of the programmes, in terms of the provisions of Sections II and III of this Article.

The management bodies of the companies shall adopt the agreements referred to in the preceding paragraph.

the Cooperative Societies that accredit the Committee of Auxiliary Supervision to the Law to regulate the Activities of the Cooperative Societies Savings and Loan have been made in compliance with the provisions of the Fourth Transitional Articles of the "Decree for reform and additional provisions of the Law on People's Savings and Credit" published in the Official Journal of the Federation of May 27, 2005 and Second to Seventh Transitories of the " Decree for which they are reformed, add and repeal various provisions of the Law on People's Savings and Credit and the Law that Creates the Trust that will administer the Fund for the Strengthening of Societies and Cooperatives of Savings and Loan and Support to its Savers " published in the Official Journal of the Federation on 31 August 2007, in the General Assembly of the immediate partners following the date of publication of this Decree, they shall agree to what is indicated by the first paragraph of this fraction.

II. Be subject to an evaluation by the Auxiliary Oversight Committee referred to in the Law to Regulate the Activities of Cooperative Societies Savings and Loan, by 31 January 2014 at the latest, on the basis of the methodology and criteria established by the Technical Committee to which the Law itself refers to the Regular Activities of the Cooperative Savings and Loan Societies, (i) to make a timely diagnosis of the financial situation, internal control and information systems of the Cooperative Societies, as well as to classify these Cooperative Societies as a function of compliance with the minimum requirements to apply for authorization from the National Banking Commission and Securities to perform savings and loan operations in terms of the Law to Regulate the Activities of the Cooperative Savings and Loan Societies.

The assessments, diagnoses and classifications referred to in the preceding paragraph shall be carried out by the Committee on Auxiliary Supervision with the opinion of a consultant, external auditor, or the technical assistance area of a Federation constituted under the General Law of Cooperative Societies, which meet the requirements set by the Technical Committee referred to in the Law for Regulate the Activities of the Cooperative Savings and Loan Societies. The National Banking and Securities Commission may order modifications to the methodology and criteria established by the said Technical Committee, as well as to object to the hiring of the persons indicated when they incur a conflict of interest or not adhere to the established methodology and criteria.

In this respect, the said Committee of Auxiliary Supervision shall evaluate the companies, based on the methodology and criteria established by the Technical Committee which refers to the Law itself to regulate the activities of the Cooperative Savings and Loan Societies, in order to classify it in one of the following categories:

a) Category A. Those companies that are able to meet the minimum requirements to apply for authorization from the National Banking Commission and of Securities to continue conducting savings and loan operations in terms of the Law to regulate the Activities of the Cooperative Savings and Loan Societies;

b) Category B. Those companies that require a work programme in terms of part III of this Transitional Article, which has as its object the financial and operational adequacy to be able to meet the minimum requirements to apply for authorization from the National Banking and Securities Commission to continue to carry out savings and loan operations in terms of the Law to regulate the Activities of the Cooperative Societies of Savings and Loan;

c) Category C. Those companies that require a restructuring process that may involve, inter alia, their merger with another A company, its division or the transfer of assets and liabilities, and which may also need financial support, in order to be able to meet the minimum requirements to apply for authorization to the National Banking and Securities Commission for continue to carry out savings and loan operations in terms of the Law for Regulate the Activities of the Cooperative Savings and Loan Societies, or

d) Category D. Those companies that are not able to meet the minimum requirements to be able to apply for authorization from the National Commission Bank and Securities to continue to carry out savings and loan operations in terms of the Law to regulate the Activities of the Cooperative Savings and Loan Societies. Additionally, those companies that perform operations that contravene the applicable laws and that have generated a detriment in the equity of the Company may be classified in this category.

The Technical Committee referred to in the Law to regulate the Activities of the Cooperative Societies of Savings and Loan, in the elaboration of the methodology and criteria specified in this fraction, should consider the prudential regulation applicable to the Cooperative Savings and Loan Societies issued by the National Banking and Securities Commission or those in force in the terms of the transitional provisions of this Decree.

the Cooperative Societies which, at the entry into force of this Decree, have already been assessed in terms of the provisions of the Fourth Articles Transitional of the "Decree by which various provisions of the Law of Savings and Popular Credit are reformed and added" published in the Official Journal of the Federation on May 27, 2005 and Third Transitional of the " Decree for which they are reformed, add and repeal various provisions of the Law on People's Savings and Credit and the Law that Creates Trust that will administer the Fund for the Strengthening of Societies and Cooperatives of Savings and Loan and Support to its Savers " published in the Official Journal of the Federation on August 31, 2007, will retain this classification, which shall be exempt from compliance with the provisions of this fraction. Notwithstanding the foregoing, the Cooperative Societies which, in terms of the provisions of the Fourth and Third Transitional Articles of the Decrees mentioned above, were classified in category D, may be subject to the arrangements provided for in the this Decree, provided that they have effectively suspended operations involving the collection of resources and those that contravene the applicable laws, as well as those that comply with the solvency and viability requirements financial according to the methodology and criteria referred to in this fraction.

III. Sujetting to work programs with the Auxiliary Oversight Committee referred to in the Law to Regulate the Activities of Cooperative Societies Saving and Loan. Such programmes shall be developed by the Committee on Auxiliary Supervision with the opinion of a consultant, external auditor, or the technical assistance area of a Federation constituted under the General Law of Societies. Cooperatives, who meet the requirements that the Technical Committee to the Law to regulate the Activities of the Cooperative Societies of Savings and Loan, and they will have to consider the result of the evaluations refers to fraction II.

Cooperative societies that have been subject to an advisory, training and follow-up program in terms of the provisions of the Fourth Articles Transitional of the "Decree by which various provisions of the Law of Savings and Popular Credit are reformed and added" published in the Official Journal of the Federation on May 27, 2005 and Third Transitional of the " Decree for which they are reformed, add and repeal various provisions of the Law on People's Savings and Credit and the Law that It creates the Trust that will administer the Fund for the Strengthening of Societies and Cooperatives of Savings and Loan and Support to its Savers " published in the Official Journal of the Federation on August 31, 2007, will continue to fulfill to the above mentioned program, so that they will be exempt from holding a new program with the Committee of Auxiliary Supervision to which the own Law to regulate the Activities of the Cooperative Societies of Savings and Loan.

The Auxiliary Oversight Committee referred to in the Law to regulate the Activities of the Cooperative Savings and Loan Societies with the opinion of the Consultants, auditors or the technical assistance area concerned shall regularly evaluate the implementation of the programmes referred to in the previous 2 paragraphs, and may issue recommendations or make modifications to those which contribute to the assessment of the approved Cooperative Societies in the times provided for in the Law to regulate the Activities of the Cooperative Savings and Loan Societies, as well as to modify the classification originally assigned, as a consequence of the periodic evaluation mentioned above.

In the event that the appointed Committee of Auxiliary Supervision referred to the Law to regulate the Activities of the Cooperative Societies of Savings and Loan will detect any possible non-compliance with the obligations entered in the programs mentioned in the previous paragraph, must notify this fact to the Society concerned, so that it is within 60 working days counted from of the date on which the notification takes effect, subject the respective observations to satisfaction of the said Committee of Auxiliary Supervision with the opinion of the consultants, auditors or the technical assistance area concerned. Where the relevant Cooperative Society does not subsc the comments made, the auxiliary supervisory committee itself, considering the seriousness of the identified non-compliances, may amend the classification assigned in the Categories C or D as indicated in the previous Part II.

IV.    As from 1 January 2011, the Cooperative Societies referred to in the first paragraph of this transitional Article, which have not submitted their application for authorisation to the Commission, may only carry out the Following operations:

a) Receive savings deposits from their Partners.

b) Grant loans or credits to its Partners within the time limits applicable to the Cooperative Savings and Loan Companies based on the size of their assets, in terms of the provisions in force.

c) Make the transfer of money with its Partners, provided that in the performance of such operations it is subject to the applicable provisions in that This is the case, as well as that one of the parties, either the payer or the beneficiary, is a Partner of the respective Cooperative Society.

d) Receive credits from national or foreign financial institutions, international bodies, and public trusts.

e) Performing the distribution and payment of government products, services, and programs.

Additionally, the Cooperative Societies referred to in this fraction will not be able to open new branches or increase their credit assets by a percentage more than 20 percent per year.

The Auxiliary Oversight Committee referred to in the Law to regulate the Activities of the Cooperative Savings and Loan Societies, before it notifies a classification D as referred to in point (d) of the preceding Part II, for the purposes of the classification processes provided for in the preceding fractions II and III, shall give notice to the Cooperative Societies in respect of any the situation which could be placed in the classification referred to in that Category D, in order to ensure that the Company concerned, within 60 working days from the date on which the notification of the said notice takes effect, shall remedy the respective observations to the satisfaction of the committee itself. auxiliary monitoring.

After the expiry of the 60 working day period referred to above, and notified of the classification D referred to in point (d) of the previous section II by the Committee of Auxiliary Supervision as referred to in the Law to Regulate the Activities of the Cooperative Societies of Savings and Loan, the companies that in terms of the provisions of this Article would have been classified in the category D referred to in the (d) of the previous Part II, they shall refrain from carrying out operations which involve resource fetch.

The Auxiliary Oversight Committee referred to in the Law to regulate the Activities of the Cooperative Savings and Loan Societies will publish within each semester in the Official Journal of the Federation and on its website on the worldwide Internet, a list of companies that comply with the requirements laid down in this provision and, as of March 2010, the result of the periodic evaluations referred to in the previous section III.

Also, the aforementioned Auxiliary Supervisory Committee may disclose through the means it deems appropriate, the financial information of the Cooperative Societies. referred to in this Transitional Article.

FOURTH.- Cooperative Societies that have as their object the collection of resources of their Partners for placement between them, that have not been adjusted to the provided for in the First, Second and Third Transitional Articles of this Law, in the terms, deadlines and conditions in which they are indicated, shall refrain from carrying out operations involving the collection of resources in terms of the Law for Regulate the Activities of the Cooperative Savings and Loan Societies and the Law of Institutions of Credit, within a period not greater than 20 working days counted from the one in which a breach of the provisions of the aforementioned Transitional Articles is verified. Otherwise, they shall be located in the alleged infringement cases provided for by the Act and by the applicable provisions.

The Cooperative Societies mentioned in the previous paragraph, as well as those mentioned in the last paragraph of the previous Third Transitional Article, must do knowledge of their Partners through publication in a newspaper of wide circulation in the places in which they operate, as well as through the placement of notices in their offices or branches. This is without prejudice to the fact that the Auxiliary Supervision Committee referred to in the Law to regulate the Activities of the Cooperative Savings and Loan Societies may make this fact public knowledge by the means it considers suitable for such effects.

Cooperative Savings and Loan Societies, Popular Financial Societies, Multiple Object Financial Societies, Multiple Banking Institutions, Houses of Stock exchange, as well as the institutions of the Federal Public Administration, with the exception of the Institutions of Development Banking, or State and public trusts, constituted by the Federal or State Government for the economic promotion, carrying out financial activities, shall be prohibited to conduct active, passive or service operations with the Cooperative Societies that are located in the cases of non-compliance referred to in this Article. Such entities shall also carry out the necessary acts to terminate the operations which they have contracted with the Cooperative Societies, in accordance with the applicable legal provisions and in accordance with the nature of such operations. operations.

Without prejudice to the foregoing, the Auxiliary Oversight Committee will provide adequate compliance and compliance with the Law to regulate Company Activities. Savings and Loan cooperatives, when it detects that any non-compliance with the provisions of the First, Second and Third Transitional Articles of this Law will be verified, for which they will include in the publications referred to in the last Paragraph of the Third Transitional Article preceding the Cooperative Societies they are located in the cases of non-compliance mentioned.

QUINTO.- The period provided for in Articles 10 and 73 of the Law to Regulate the Activities of the Cooperative Savings and Loan Societies shall not apply. for the National Banking and Securities Commission to resolve the requests for authorization that the Commission receives from the Cooperative Societies referred to in the Third Transitional Article of this Law.

SIXTH.- The Protection Fund referred to in Article 42 of the Law to Regulate the Activities of the Cooperative Savings and Loan Societies shall be be constituted at the latest within 120 calendar days following the entry into force of this Decree.

For such purposes, the Federal Government will be able to provide resources to the designated Protection Fund through the mechanisms established by the Secretariat of Finance and Credit Public.

Until as long as the technical committees, auxiliary supervision and protection of the cooperative savings committees referred to in the Law to Regulate the Activities of the Cooperative Savings and Loan Companies, the functions conferred upon them by the Second to the Fifth Transitional Articles of this Law, shall be exercised by the Federations authorized by the National Banking and Securities Commission in Terms of the Law on People's Savings and Credit, through their respective monitoring committees.

SEVENTH.- The Cooperative Savings and Loan Societies that have been authorized to organize and operate as such by the National Banking Commission and In terms of the Law of Savings and Popular Credit, temporarily and for a period not greater than 540 calendar days following the entry into force of this Decree, may continue to be subject to the auxiliary supervision of the Federations authorized by the National Banking and Securities Commission in terms of the Law of Savings and Popular Credit with which you have an affiliate or auxiliary supervision contract. In any event, these Cooperative Savings and Loan Companies will have to adjust in their operation as provided for in the Law to regulate the Activities of the Cooperative Savings and Loan Societies.

Also, the Cooperative Societies that in terms of the provisions of the Fourth Transitional Articles of the " Decree for which they are reformed and added various Provisions of the Law on People's Savings and Credit "published in the Official Journal of the Federation on May 27, 2005 and Third Transitional of the" Decree for which various provisions of the Law on Savings and Credit are reformed, added and repealed. Popular and the Law that Creates the Trust that will administer the Fund for the Strengthening of Companies and Cooperatives of Savings and Loan and Support to Savers " published in the Official Journal of the Federation on 31 August 2007, temporarily and for a period not longer than 540 calendar days following the entry into force of the This Decree, may maintain its contracts of affiliation or service provision with the Federations authorized by the National Banking and Securities Commission in terms of the Law of Savings and Popular Credit, in order to comply with the the Third Transitional Article of this Law and its opportunity, in the event of It would be appropriate to issue opinions and submit applications for authorization on behalf of Cooperative Societies in terms of Article 10 of the Law to regulate the Activities of the Cooperative Savings and Loan Societies.

EIGHTH.- The Federations authorized by the National Banking and Securities Commission in terms of the Savings and Popular Credit Act shall be transferred to the account a special item bearing the Protection Fund referred to in Article 54 of the Law to Regulate the Activities of the Cooperative Savings and Loan Societies, within a period not longer than 60 calendar days after the date on which the Fund is due be constituted in accordance with the provisions of the transitional provisions of the present Law, the contributions made by the Cooperative Societies of Savings and Loan in terms of the Law of Savings and Popular Credit. Once the term has been completed, the Cooperative Savings and Loan Companies will have to make payment of the deposit insurance fees in the account referred to in Article 54 of the Law to Regulate the Activities of the Companies Savings and Loan cooperatives.

Until as long as the transfer referred to in the preceding paragraph is not to be carried out, the Cooperative Savings and Loan Societies that have been authorized to organize and function as such by the National Banking and Securities Commission pursuant to the People's Savings and Credit Act, will continue to make their contributions in the terms and conditions referred to in this Law.

The Cooperative Savings and Loan Companies that are authorized under the Law to regulate the Activities of the Cooperative Savings and Loan Societies for carry out activities with the levels of Operation I to IV, prior to the date of the establishment of the Protection Fund referred to in that same order, shall create a special reserve that shall provide the amount of the insurance fee of the the deposit to be provided in accordance with the provisions of the Law itself to regulate the activities of the Cooperative Savings and Loan Societies and in the general provisions which the National Banking and Securities Commission has issued in such matters or in accordance with the transitional provisions of the This Decree shall remain in force. Once constituted the Fund of Protection referred to the Law for Regular the Activities of the Cooperative Societies of Savings and Loan these Cooperative Societies of Savings and Loan will have to deliver the resources of the reserve that they have been incorporated into the account referred to in Article 54 of the order referred to above.

Once the transfer referred to in the first paragraph of this Article has been effected, the trust contracts and other instruments by which the Federations authorised by the National Banking and Securities Commission provisionally administered the resources of the Protection Fund, shall be extinguished without the conclusion of a convention being required for this purpose.

NINTH.- Societies, civil associations and social solidarity societies that capture resources from their Partners or associates for placement between them, may be transformed within 180 days of the entry into force of this Decree into Cooperative Savings and Loan Societies by agreement of the majority of the members or partners with the right to vote, without the agreement of the dissolution and settlement status.

Likewise, the solidarity societies referred to in the preceding paragraph may be transformed into Cooperative Savings and Loan Societies by agreement of the majority of the members or partners with the right to vote. Companies of social solidarity which are transformed in terms of this Article, will lose that character from the date on which the transformation agreement takes effect to third parties, so they will be left without effects by the Ministry of Law, the authorisations or permits granted by the competent authority to be constituted as a social solidarity partnership. The transformation effected in terms of this Article shall not imply that they are in a state of dissolution and liquidation.

The transformation agreements adopted pursuant to this Article must be addressed to the Public Fedatary.

Once incorporated as Cooperative Savings and Loan Companies, such companies shall adhere to the terms and conditions referred to in Article Third Transitional of this Law.

DECIMAL.- Cooperative Societies of any kind that have as their object the collection of resources of their Partners for placement between them, which they have given compliance with the provisions of the Third Transitional Article of this Law and which additionally offer services and products of social assistance to their Partners, will have until December 31, 2010 to suspend these activities, except that adhere to the provisions of Article 27 of the Law for Regular Activities of the Cooperative Savings and Loan Societies and the provisions of this legal precept.

TENTH FIRST.- The savings and loan companies authorized under the General Law of Credit Organizations and Activities of the Credit operating in terms of the Fourth Transitional Article of the "Decree for which various provisions of the Law on People's Savings and Credit are reformed and added", published in the Official Journal of the Federation on 27 May 2005, as well as the Article 7 Transitional of the " Decree for which they are reformed, added and In the case of the Fund for the Strengthening of Savings and Loan and Loan and Support to its Savers, the Trust and the People's Credit and Savings Law, which will be used by the Fund for the Strengthening of Savings and Loan and Support to its Savers, will be repealed. Official Journal of the Federation on August 31, 2007, will be transformed into Cooperative Savings and Loan Societies, being subject by law ministry to the provisions of the General Law of Cooperative Societies, in the Law for Regular Activities of the Cooperative Savings and Loan Societies and other arrangements applicable to them Cooperative Societies, with the effect of the provisions of this Transitional Article.

In order to provide for the transformation of the aforementioned savings and loan societies into Cooperative Savings and Loan Societies, the National Banking and Securities within 180 calendar days counted from the entry into force of this Law, shall issue the agreements by which the savings and loan companies referred to in the preceding paragraph, shall be transformed into Cooperative Societies. Savings and Loan.

Agreements issued by the National Banking and Securities Commission shall be subject to the following bases:

I.      The processing agreements shall be published in the Official Journal of the Federation. The changes shall take effect on the date indicated in the respective agreements. Once the aforementioned transformation has taken effect, the savings and loan companies must be held as Cooperative Savings and Loan Companies against third parties, and are also subject to the General Law of Cooperative Societies, the Law to regulate the Activities of the Cooperative Savings and Loan Societies and other legal systems that are applicable to the Cooperative Savings and Loan Societies as of the date on which their transformation.

The savings and loan companies that will be transformed into Cooperative Savings and Loan Companies, by law ministry, will be authorized to terms of the provisions of Article 10 of the Law to regulate the Activities of the Cooperative Societies of Savings and Loan, and also, without effects by law, the authorizations that for the organization and operation that the Secretariat of Finance and Public Credit would have granted to the societies of savings and loan under the General Law of Credit Organizations and Activities of Credit.

The Commission shall allocate to these Cooperative Savings and Loan Companies the level of operations between I and the fourth concerned, as intended Article 19 of the Law to Regulate the Activities of the Cooperative Savings and Loan Societies, based on the financial information that each Savings and Loan Company has provided to the National Banking and Values based on the applicable provisions.

Cooperative Savings and Loan Companies shall forward to the National Banking and Securities Commission within a period of 180 calendar days following to its transformation, a copy of the minutes of assembly containing the constituent bases relating to that Company, duly formalized and registered in the Public Registry of Commerce in accordance with the General Law of Cooperative Societies.

II.    The transformation agreements shall be entered in the Public Register of Commerce.

III.   The creditors of the companies may not object to the transformation.

IV.    The counselors, general managers and stewards of the savings and loan societies will continue in the performance of their duties as long as no new designations are made and the appointees take possession of their positions.

V.     The savings and loan companies as they transform into Cooperative Savings and Loan Societies, will retain their own legal personality and heritage, so the assets and rights of the company as well as its obligations, including those of a labour and tax nature, shall not be amended. Each Partner will maintain its corresponding share in the share capital, adjusting to what the General Law of Cooperative Societies has for this purpose.

VI.    It shall be understood as referring to the Cooperative Savings and Loan Societies, the inscriptions and the marginal annotations of any nature, carried out in the public records of the property and of the trade, as well as in any other registration, relating to savings and loan companies which are transformed by virtue of the agreements published by the National Banking and Securities Commission.

Likewise, they will correspond to the Cooperative Companies of Savings and Loan, the actions, exceptions, defenses and resources of any nature, deduced in the trials or procedures in which savings and loan companies have a legal interest.

The powers, mandates and, in general, the representations granted and the powers granted by the societies that are transformed, will subsist in their terms are not expressly modified or revoked.

In addition, the Commission will make special visits to those referred to in Article 62 of the Law to regulate the Activities of Cooperative Societies. Savings and Loan to the companies referred to in the first paragraph of this Article, in order to assess the attachment to the regulations governing the Cooperative Savings and Loan Societies and may make observations and order the adoption of measures to correct the facts, acts or irregular omissions that you have detected.

As provided for in this Article, it will not be applicable to savings and loan companies that are subject to revocation procedures to be placed in any (a) the causal link to those referred to in the General Law of Credit Organizations and Activities of the Credit or, if they have been agreed upon, their dissolution and liquidation.

TENTH SECOND.- The authorizations granted by the Banking and Securities Commission to the credit unions, will be without effect by the Ministry of Law, in the case of credit unions which have been constituted as Cooperative Savings and Loan Companies in accordance with the General Law of Cooperative Societies and, where appropriate, have obtained the authorization of the National Banking and Values to continue performing savings and loan operations, and started operations with such a character.

Credit unions that capture savings deposits will continue to be subject to supervision and oversight by the National Banking and Securities Commission in terms of established in the Credit Unions Act, until such time as their authorisations are without effect in terms of the provisions of this Article.

THIRTEENTH THIRD.- The periods and amounts referred to in Article 24 of the Law to Regulate the Activities of the Cooperative Savings and Loan Societies, begin to be counted upon the entry into force of this Law, leaving without effect the calculated deadlines and amounts determined in terms of the provisions of Article 33 of the Law on People's Savings and Credit, prior to the entry into force of this.

TENTH QUARTER.- The offences and offences committed prior to the date of entry into force of this Decree shall be sanctioned in accordance with the Law in force. time to commit the aforementioned offences or offences.

In the administrative and judicial procedures that are in the process, the person concerned may choose to follow the procedure in force during his/her initiation or by the application of the provisions applicable to the administrative or judicial procedures provided for by this Decree.

TENTH FIFTH.- The Congress of the Union shall have a period of 270 days from the entry into force of this Decree to assess the relevance of the the necessary reforms to the relevant legislation, in order to ensure that the Credit Institutions and the Development Bank cannot cancel the accounts of the Cooperative Savings and Loan Companies with Operating Levels from I to IV, except for reasons justifying or involving the commission of a crime.

ARTICLES SECOND TO EIGHTH. ..........

DECREE TRANSIENTS

FIRST.- This Decree shall enter into force on the day following that of its publication in the Official Journal of the Federation, subject to the provisions of Article 2 next.

SECOND.- The derogations made by the third article of this Decree to Articles 4 Bis, 4 Bis 1, 4 Bis 2 and 4 Bis 3 of the Law on Savings and Credit Popular, as well as by the Sixth Article of this Decree to the Seventh Transitional Article of the "Decree for which various provisions of the Law on People's Savings and Credit are reformed and added" published in the Official Journal of the Federation of May 27, 2005, shall enter into force on the 180 calendar days following the publication of the This Decree.

THIRD.- As the National Banking and Securities Commission issues the general provisions referred to in the Law to Regulate the Activities of the Cooperative Savings and Loan Companies will continue to apply those issued by the said Commission in terms of the People's Savings and Credit Act.

FOURTH.- The references that other Laws, regulations or provisions make to the People's Savings and Credit Entities shall be construed as Popular Financial Societies and Cooperative Savings and Loan Societies with Operating Levels I to IV.

QUINTO.- The Federal Executive will make its best efforts to disseminate the benefits of the present reform among savers and Cooperative Societies. Savings and Loan.

SIXTH.- All provisions that are opposed to this Decree are repealed.

Mexico, D.F., on April 30, 2009.-Sen. Gustavo Enrique Madero Muñoz, President.-Dip. Cesar Horacio Duarte Jaquez, President.-Sen. Adrian Rivera Perez, Secretary.-Dip. Margarita Arenas Guzman, Secretary.-Rubicas."

In compliance with the provisions of Article 89 of the Political Constitution of the United Mexican States, and for their due publication and observance, I ask for this Decree at the Federal Executive Branch, in Mexico City, Federal District, at 11 August, two thousand nine.- Felipe de Jesús Calderón Hinojosa.-Rubrica.-The Secretary of the Interior, Lic. Fernando Francisco Gomez Mont Urueta.-Heading.