From The Washington PostBy Cornel Ban and Kevin GallagherDecember 17, 2014 Cornel Ban...
General Law on Cooperative Societies of 1994
(amended through 2009)
The General Law on Cooperative Societies (Ley General de Sociedades Cooperativas) governs the creation, organization and operation of cooperative societies in Mexico. The organization and governance of Popular Savings and Credit Societies (SCAPs) are now regulated under this law, rather than under the Popular Savings and Credit Law of 2001 (LACP).
The law is organized as follows:
- Title I:
- Chapter I General Provisions, Objects, Definitions;
- Title II:
- Chapter I Incorporation, Registration and Oversight;
- Chapter II Different categories of cooperative societies;
- Includes provisions on the definition and organization of SCAPs and limitation on savings and credit activities of SCAPs;
- Chapter III Operation and Administration;
- Includes provisions on governing bodies of cooperative societies, and responsibilities of directors and credit and risk committees of SCAPs;
- Chapter IV Financial Management;
- Chapter V Membership;
- Chapter VI Dissolution and Liquidation;
- Title III:
- Chapter I Federations and Confederations of SCAPs – Definitions, Objects, Organization, Limitations;
- Chapter II Organizations Providing Technical Assistance to the National Cooperative Movement;
- Chapter III Integration and Collaboration with Government Entities; and
- Title IV:
- Chapter I Support for Cooperative Societies.