COOPERATIVE SOCIETY (COOP)

The cooperative society is the voluntary union of people who are associated on the base of the own effort and the mutual aid, to organize an economic and social company without profit aims, in order to satisfy individual and collective necessities.

The constitution, organization and operation of the cooperatives must observe the following principles:

1. Adhesion and voluntary retirement of partners;
2. Democratic government and of autowork in equality of rights and obligations of the partners;
3. Limitation of interest to the capital contributed by the partners, if some is recognized;
4. Nonlucrative distribution of the excess, and in direct proportion to the use of the services, or in agreement with the participation of the partners in the works undertaken in common;
5. Neutrality in in favor and movimentista political matter, religion, race and nationality;
6. Promotion of the cooperative education; and
7. Participation in cooperative integration.

Characteristics:

1. Limitless, but noninferior number of partners variable and to 20;
2. Indefinite term of duration;
3. Limitless variable capital and;
4. Recognition of a vote by each partner, independently of its capital;
5. Non distribution of the social reserves.

1. Assembly of Constitution
   In which one will consider the project of Social Statute and the modality of subscription and contribution certificate integration and the selection of members of the Council of Administration and Meeting of Monitoring.
   The Social Statute will have to contain:
   
   1. Social denomination and the real address;
   2. Social object;
   3. Conditions for the admission, suspension, exclusion, expulsion and retirement of partners;
   4. Duties and rights of the partners;
   5. Form of constitution of capital and value of contribution certificates;
   6. Organization and functions of the Assembly, Advice of Administration and Meeting of Monitoring;
   7. Norms for distribution of excessive or the washed of losses, creation of reserve funds and refund of capital to those who stops being partners;
   8. Dispositions on cooperative integration; and
   9. Procedure for the statute reform, fusion, dissolution and liquidation.
      

2. Inscription in the Instituto Nacional de Cooperativismo (INCOOP)
   The request of recognition of the legal function and position of agent will appear accompanied of following documents:
   

   1. The original unit of minutes of the constitution meeting and two copies;
   2. Three units of the social statute signed by the president and secretary of the Council of Administration;
   3. Two units of the list of partners founders, with the following data: full name, nationality, civil state, profession, age, real address, amount of the capital signed and the integrated one, number of identity card and company/signature of each one;
   4. The original ticket of the certificate of deposit in the BCP equivalent to 5% of the capital signed in money; and
   5. Two copies of acts of sessions of the Council of Administration and the Meeting of Monitoring, where the distribution of positions consists.
      
3. Inscription in Direccion de Apoyo del Ministerio de Hacienda (RUC)
   To fill the forms:
   401 - Request of Inscription of Legal People, signed by a registered Accountant (with RUC) and the Legal Representative.
   416 - Annexed Form for Location of Address
   To present/display Photocopies of:
   
   1. Social statutes approved by the Executive Power (Authenticated by Notary public)
   2. Inscription in the National Institute of Cooperativismo
   3. Identity card of the members of the Council of Administration.
   4. >Ticket of payment of Real estate Tax or Contract of Rent of the legal address.
      
4. Sign of Countable Books
    
   

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