From American Banker By TAMAR FRANKEL July 10, 2014 Many contributors helped bring about the most...
General Cooperatives Law (Law No. 499 of 2004) & Executive Decree 01-2006
(amended through 2006)
The General Cooperatives Law (Ley General de Cooperativos) regulates the promotion, constitution, authorization, administration, dissolution and liquidation of cooperatives in Nicaragua. Executive Decree 01-2006 (Decreto No. 01-2006), attached to the end of this document, amends articles 89, 108, 115.135, 152, 164 and 166. The law is organized as follows:
- Title I Cooperatives:
- Chapter I Definitions and Principles;
- Chapter II Constitution, Formalities and Authorization;
- Chapter III Associates;
- Chapter IV Economic Regime, Chapter V – Directions and Administration Organs;
- Chapter IV Education and Promotion of the Cooperative; and
- Chapter VII Dissolution and Liquidation.
- Title II Cooperative Integration;
- Title III Relations between the State and Cooperatives:
- Chapter I Obligations, Benefits and Exemptions;
- Chapter II Nicaraguan Institute of Cooperative Promotion; and
- Chapter III – National Council of Cooperatives.
- Title V Transitory and Final Provisions:
- Chapter I Transitory Provisions; and
- Chapter II Final Provisions.
Executive Decrees No. 16-2005 and No. 91-2007 which promulgate additional regulations can be found under “Related Laws/Regulations.”
DISCLAIMER: Due to the fact that an English translation was unavailable for this law, information for this summary has been taken from secondary sources and not from review of the actual legal text.