• The companies' collegiate bodies such as general shareholders' meetings, or partner boards, as well as board of directors meetings.
• The direction and management bodies at non-for-profit institutions, such as Founders' Meetings, Associates' Meetings, Boards of Directors, among others.
The minute is considered to be effective when it complies with the dispositions set forth in Article 189 of the Commerce Code.
Minutes are covered by the legal presumption of legality; therefore, the individuals signing as president and secretary of the meeting vouch and are accountable for the accuracy of their content.
Ledgers: a set of sheets that companies and individuals alike arrange to store the information related to their business, their operations, management or the conduction of all activities carried out by the company or institution.
Documents: written pieces which collect the decisions taken by one or more individuals, where rights are defined, or decisions affecting a company or a non-for-profit organization are made either directly or through the corresponding positions within the company.
In accordance with the dispositions set forth in Articles 48 and 49 of the Commerce Code, merchants are required to register their trade ledgers, without said obligation being subjected to any additional requirement or exceptions; also, the way in which ledgers as well as their effects as evidence are covered by Article 15 of the Constitution, under the Civil Procedural Code, the Fiscal Statute and decrees 2649 and 2650 of 1993. However, keeping trade ledgers is not just an obligation borne by merchants; it is also one of the ways in which the company becomes formalized in its business, and having them registered in the merchant's registrar results in commercial and legal benefits, such as:
1. From a fiscal perspective, the taxpayer's ledgers constitute positive evidence, as long as they are kept properly, and from a commercial perspective, they are given full evidence value in legal proceedings.
2. Trade ledgers recorded into the merchant's registrar are vested with an opposability effect, as an eminent feature of this commercial institution.
3. When merchants register their trade ledgers, they are eligible to become a member of the Affiliates Club and, therefore, enjoy its benefits.
4. When a Minutes Ledger is registered, the actions recorded in it are easily reported, on account of the following:
- When an authorized copy of a minute is presented for registration by the secretary or by a legal representative, said copy need only be acknowledged before a judge or a notary, or provided in person by the president and secretary or, in their absence, by the statutory auditor.
- When an excerpt of a minute authorized by the secretary or a legal representative is presented for registration, the document need only be acknowledged before a judge or notary by said legal representative or secretary or, otherwise, be provided in person to the Chamber of Commerce's secretary by said secretary or legal representative.
- When the procedure involves a copy taken from the original listed in the minutes ledger registered at the Chamber of Commerce, authorized by the secretary or legal representative of the company, said copy must be authenticated at a notary's office, in which case no requirement will apply for the acknowledgment of the document, or its personal presentation, and it may simply be sent for registration.
- If what is being filed is a copy taken from the original listed in the minutes ledger registered at the Chamber of Commerce, authorized by the secretary or legal representative of the company, and authenticated before a notary, no personal presentation or document acknowledgment will be required.