Cooperatives, Employee Funds and Mutual Associations
In compliance with article 143 of Decree 2150 of 1995, cooperative institutions, employee savings funds and mutual associations, as well as their integration bodies and the ancillary cooperative institutions shall be Non-For-Profit organizations, and shall be established through public deed or private document.
What is a cooperative?
An associative, non-for-profit company in which workers or users are also the companies contributors and managers. It is created with the goal to produce or distribute goods or services in a joint and efficient manner, in order to satisfy the needs of its associates and of the community as a whole.
Special requirements for the establishment of cooperatives
- No less than 20 associates.
- Certificate from the legal representative regarding compliance with the special norms governing cooperativism.
- The establishment document must be signed by all guarantors or founders.
- Indefinite effective term (External Memo number 8 of 2012, by the Superintendence of Solidarity Economy).
- Accreditation certificate on solidary education, issued by the Special Administrative Unit for Solidary Organizations (External Memo number 8 of 2012 by the Superintendence of Solidarity Economy, Decree 19 of 2012).
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