Presidency of the Republic

Civil House

Sub‑chief for Legal Affairs

COMPLEMENTARY LAW No. 130, OF APRIL 17, 2009

Provides for the National Cooperative Credit System and repeals provisions of Laws No. 4,595, of December 31, 1964, and No. 5,764, of December 16, 1971.

THE PRESIDENT OF THE REPUBLIC

I hereby make known that the National Congress decrees and I sanction the following Complementary Law:

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Art. 1 The financial institutions constituted as credit cooperatives are subject to this Complementary Law, as well as to the legislation of the National Financial System – SFN and of cooperative societies.

Art. 1º The financial institutions constituted as credit cooperatives and the service confederations constituted by central credit cooperatives are subject to the provisions of this Complementary Law, as well, where applicable, to the legislation applicable to the National Financial System (SFN) and to cooperative societies. (Text given by Complementary Law No. 196, of 2022)

§ 1 The legal competences of the National Monetary Council – CMN and the Central Bank of Brazil concerning financial institutions apply to credit cooperatives.

§ 1º The legal competences of the National Monetary Council (CMN) and the Central Bank of Brazil concerning financial institutions apply to credit cooperatives and to the service confederations constituted by central credit cooperatives. (Text given by Complementary Law No. 196, of 2022)

§ 2 The establishment of a mixed cooperative with a credit section is prohibited.

§ 3º For the purposes of this Complementary Law, the following are considered: (Included by Complementary Law No. 196, of 2022)

• I – credit cooperatives: singular credit cooperatives, central credit cooperatives and credit confederations constituted by central credit cooperatives; and (Included by Complementary Law No. 196, of 2022)
• II – service confederations: confederations constituted exclusively by central credit cooperatives, to provide services pertinent, complementary or necessary to the activities carried out by their affiliates or by the singular cooperatives affiliated to those central cooperatives, excluding services and operations exclusive to financial institutions. (Included by Complementary Law No. 196, of 2022)

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Art. 2 Credit cooperatives are intended, primarily, to provide, through mutuality, financial services to their members, being assured access to financial market instruments.

§ 1 The capture of resources and the granting of credit and guarantees must be restricted to members, except for operations carried out with other financial institutions and resources obtained from legal persons, on an occasional basis, at favorable rates or exempt from remuneration.

§ 1º The capture of resources and the granting of credit and guarantees must be restricted to members, except for the capture of resources from Municipalities, their organs or entities and the companies they control, the operations carried out with other financial institutions and the resources obtained from legal persons, on an occasional basis, at favorable rates or exempt from remuneration. (Text given by Complementary Law No. 161, of 2018)

§ 1º The capture of resources and the granting of credit and guarantees must be restricted to members, except:

• I – the capture, by a singular credit cooperative, of resources from Municipalities, their organs or entities and the companies they control; (Included by Complementary Law No. 196, of 2022)
• II – the operations carried out with other financial institutions; (Included by Complementary Law No. 196, of 2022)
• III – the resources obtained from legal persons, on an occasional basis, at favorable rates or exempt from remuneration; (Included by Complementary Law No. 196, of 2022)
• IV – the assistance and financial support operations carried out with the guarantee funds referred to in item IV of the caput of art. 12 of this Complementary Law; (Included by Complementary Law No. 196, of 2022)
• V – the operations carried out with the central credit cooperatives or with the credit confederations to which they are affiliated, or with other guarantee funds constituted by them; and (Included by Complementary Law No. 196, of 2022)
• VI – the transfers from official institutions or public funds. (Included by Complementary Law No. 196, of 2022)

§ 2 Notwithstanding the provision of § 1 of this article, the provision of other financial and related services to members and non‑members is permitted.

§ 2º Notwithstanding the provision of § 1º of this article, the provision of other financial and related services to members and non‑members, including entities that are part of the public power, is permitted. (Text given by Complementary Law No. 196, of 2022)

§ 3 The granting of credit and guarantees to members of statutory bodies, as well as to natural or legal persons who have kinship or business relations with them, must observe approval and control procedures identical to those applied to other credit operations.

§ 4 At the discretion of the general assembly, the procedures referred to in § 3 of this article may be more stringent, the assembly defining the types of relationships to be considered for applying the referred procedures.

§ 5 Credit cooperatives, under specific legislation, may have access to official resources for financing the activities of their members.

§ 6º The capture of resources from Municipalities provided for in § 1 of this article, which exceeds the limit guaranteed by the guarantee funds referred to in item IV of the caput of art. 12 of this Law, shall comply with the prudential requirements established by the National Monetary Council. (Included by Complementary Law No. 161, of 2018)

§ 7º If the cooperative does not comply with the provision of § 6º of this article, it shall incur the sanctions provided for in Law No. 7,492, of June 16, 1986. (Included by Complementary Law No. 161, of 2018)

§ 8º In addition to the exceptions in § 1 of this article, the institutions referred to in this Law and the banks they directly or indirectly control are authorized to manage the financial resources of the National Apprenticeship Service of Cooperativism. (Included by Complementary Law No. 161, of 2018)

§ 9 The operations provided for in § 1 of this article, corresponding to deposits of municipal governments, their organs or entities and the companies they control, may only be carried out in a Municipality that is within the operating area of the respective credit cooperative. (Included by Complementary Law No. 161, of 2018)

§ 9º The operation referred to in item I of § 1 of this article may only be carried out with a Municipality where the credit cooperative has an installed branch, with its organs or entities and with companies they control. (Text given by Complementary Law No. 196, of 2022)

§ 10 Credit cooperatives are permitted to manage official or public or private funds intended for granting guarantees to members in operations with the managing cooperative itself or with third parties. (Included by Complementary Law No. 196, of 2022)

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Art. 2º‑A The operating area of singular credit cooperatives comprises: (Included by Complementary Law No. 196, of 2022)

• I – area of action: area constituted by the Municipalities in which its headquarters and other dependencies are installed, as provided in the bylaws; and (Included by Complementary Law No. 196, of 2022)
• II – area of admission of members: area delimited by the possibilities of meeting, control, execution of operations and provision of services, either in person or electronically, which, according to these criteria, may reach persons domiciled anywhere in the national territory. (Included by Complementary Law No. 196, of 2022)

Art. 2º‑B It is optional to carry out credit operations with the sharing of resources and risks by a set of credit cooperatives that are part of the same cooperative system. (Included by Complementary Law No. 196, of 2022)

Sole paragraph The CMN shall establish the conditions to be observed in the contracting of the operations provided for in the caput of this article. (Included by Complementary Law No. 196, of 2022)

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Art. 3 Credit cooperatives may act in the name and on behalf of other institutions, with a view to providing financial and related services to members and non‑members.

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Art. 4 The social body of credit cooperatives, composed of natural and legal persons, is defined by the general assembly, with provision in the bylaws.

Sole paragraph Legal persons that could compete with the credit cooperative itself, nor the Union, the States, the Federal District and the Municipalities as well as their respective autarchies, foundations and dependent state companies, shall not be admitted to the social body of the credit cooperative.

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Art. 4º The social body of credit cooperatives may be composed of natural persons, legal persons and unincorporated entities and shall be defined by the general assembly, with provision in the bylaws. (Text given by Complementary Law No. 196, of 2022)

§ 1º The following shall not be admitted to the social body of singular credit cooperatives: (Included by Complementary Law No. 196, of 2022)

• I – the Union, the States, the Federal District and the Municipalities, as well as their respective autarchies, foundations and dependent state companies; and (Included by Complementary Law No. 196, of 2022)
• II – legal persons and unincorporated entities that, in their main activities, effectively compete with the main activities of the credit cooperative itself. (Included by Complementary Law No. 196, of 2022)

§ 2º The prohibition set out in item I of § 1º of the caput of this article does not prevent the social body of the singular credit cooperative from being integrated by professional supervisory councils. (Included by Complementary Law No. 196, of 2022)

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Art. 5 Credit cooperatives with a board of directors may create an executive board subordinate to it, as a statutory body composed of natural persons, members or not, indicated by that board.

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Art. 5º Credit cooperatives and the service confederations constituted by central credit cooperatives shall have a board of directors, which shall be composed of members elected by the general assembly and an executive board subordinate to it. (Text given by Complementary Law No. 196, of 2022)

§ 1º The CMN, pursuant to regulation, may admit the hiring of an independent board member who is not a member, as provided in the bylaws, provided that the majority of the board be composed of natural persons who are members. (Included by Complementary Law No. 196, of 2022)

§ 2º The executive board, as a statutory body, shall be composed of natural persons elected by the board of directors, who may be members or not, provided that the majority of directors be natural persons who are members. (Included by Complementary Law No. 196, of 2022)

§ 3º It is prohibited for the holders of the positions of president or vice‑president of the board of directors or of executive director in credit cooperatives or in service confederations constituted by central credit cooperatives to simultaneously hold those positions with:

• I – president or vice‑president of the board of directors or executive director of a singular credit cooperative, central credit cooperative or confederation that are part of the same cooperative system; and (Included by Complementary Law No. 196, of 2022)
• II – president or vice‑president of the board of directors or executive director in the funds referred to in item IV of the caput of art. 12 of this Complementary Law. (Included by Complementary Law No. 196, of 2022)

§ 4º The term of office of members of the board of directors of credit cooperatives and of the service confederations constituted by central credit cooperatives shall be up to 4 (four) years, with no alternate member being constituted. (Included by Complementary Law No. 196, of 2022)

§ 5º The CMN, considering the risks, complexity, classification and size of the credit cooperative, may:

• I – make the establishment of a board of directors optional; and (Included by Complementary Law No. 196, of 2022)
• II – allow the accumulation of positions in the executive board in credit cooperatives or in service confederations constituted by central credit cooperatives, without observing the provision of item I of § 3 of this article, provided that no conflict of interest is identified. (Included by Complementary Law No. 196, of 2022)

§ 6º In cases where the credit cooperative does not constitute a board of directors, the executive board shall be elected by the general assembly. (Included by Complementary Law No. 196, of 2022)

§ 7º The remuneration policy for holders of positions in the executive board must be approved by the general assembly, at least at the beginning of each term. (Included by Complementary Law No. 196, of 2022)

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Art. 6 The term of office of members of the audit council of credit cooperatives shall be up to 3 (three) years, with renewal of at least 2 (two) members at each election, being 1 (one) effective and 1 (one) alternate.

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Art. 6º The audit councils of credit cooperatives and of the service confederations constituted by central credit cooperatives shall be composed of 3 (three) effective members and 1 (one) alternate, all members and elected by the general assembly, with term of up to 3 (three) years. (Text given by Complementary Law No. 196, of 2022)

§ 1º It is prohibited for holders of the position of audit council member in credit cooperatives or in service confederations constituted by central credit cooperatives to simultaneously hold, in the same cooperative system, that position together with other positions in:

• I – board of directors of a singular credit cooperative; or (Included by Complementary Law No. 196, of 2022)
• II – executive board of a singular credit cooperative, central credit cooperative or confederation constituted by central credit cooperatives. (Included by Complementary Law No. 196, of 2022)

§ 2º The establishment of an audit council is optional for:

• I – credit cooperatives administered by a board of directors and an executive board; and (Included by Complementary Law No. 196, of 2022)
• II – service confederations constituted by central credit cooperatives and administered by a board of directors and an executive board. (Included by Complementary Law No. 196, of 2022)

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Art. 7 It is prohibited to distribute any kind of benefit to the capital share‑parts, except for an annual remuneration limited to the value of the reference rate of the Special System for Settlement and Custody – Selic for federal securities.

§ 1º The offering or distribution of bonuses, prizes or other advantages, in an isonomic manner, in promotional campaigns for attracting new members or increasing the social capital by the members, does not constitute distribution of benefit to the share‑parts, provided it is linked to the actual increase of the cooperative’s social capital. (Included by Complementary Law No. 196, of 2022)

§ 2º The policies for attracting new members or for increasing the social capital by the members, as well as the conduct of campaigns and the offering or distribution of bonuses, prizes or other advantages for these purposes, must be defined by the board of directors or, in its absence, by the executive board, observing CMN regulation. (Included by Complementary Law No. 196, of 2022)

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Art. 8 It is the competence of the general assembly of credit cooperatives to establish the calculation formula to be applied in the distribution of surpluses and the allocation of losses, based on the operations of each member carried out or maintained during the fiscal year, in accordance with the provisions of art. 7º of this Complementary Law.

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Art. 9 Credit cooperatives may, by decision of the general assembly, compensate, through surpluses of subsequent fiscal years, the remaining balance of losses verified in the closed fiscal year.

Sole paragraph For the exercise of the faculty referred to in the caput of this article, the cooperative must remain within the required equity limits as set by current regulation, preserving the control of the portion corresponding to each member in the balance of retained losses.

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Art. 9º‑A In the case of incorporation of a credit cooperative, the credit corresponding to the amount of losses for which each member of the incorporated cooperative is responsible, accumulated up to the date of incorporation, may, with approval of the general assembly, be assigned to the guarantee funds referred to in item IV of the caput of art. 12 of this Complementary Law, for the purpose of carrying out assistance and financial support operations, observed the fund’s regulation. (Included by Complementary Law No. 196, of 2022)

§ 1º The general assembly that approves the incorporation referred to in the caput of this article shall define the value of the portion corresponding to each member in the balance of losses incurred and not yet allocated or, if already allocated, not paid up to the date of incorporation. (Included by Complementary Law No. 196, of 2022)

§ 2º The debt referred to in the caput of this article shall be paid, preferentially, with the surpluses of subsequent fiscal years to which the debtor member would be entitled in the incorporating cooperative and with the amounts related to the annual remuneration of the share‑parts referred to in art. 7º of this Complementary Law. (Included by Complementary Law No. 196, of 2022)

§ 3º Without prejudice to the provision of § 2º of this article, the right of the guarantee fund referred to in the caput of this article to collect the amount corresponding to each member’s debt shall remain valid through ordinary means, under the terms agreed in the credit assignment. (Included by Complementary Law No. 196, of 2022)

§ 4º It is prohibited for the incorporating credit cooperative to co‑obligate itself in the assignment operation referred to in this article. (Included by Complementary Law No. 196, of 2022)

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Art. 10 The restitution of capital quotas depends, among other things, on compliance with the equity limits required by current regulation, and partial restitution is further conditioned on specific authorization by the board of directors or, in its absence, the executive board.

Art. 10 The restitution of capital quotas depends, among other things, on compliance with the equity limits required by current regulation, and partial restitution is further conditioned on specific authorization by the board of directors or, in its absence, the executive board. (Text given by Complementary Law No. 196, of 2022)

§ 1º Capital share‑parts of a credit cooperative are unseizable. (Included by Complementary Law No. 196, of 2022)

§ 2º While restitution remains non‑exigible due to non‑compliance with the limits referred to in the caput of this article, the capital quotas shall remain recorded in the cooperative’s equity accounts. (Included by Complementary Law No. 196, of 2022)

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Art. 11 Central credit cooperatives and their confederations may adopt, regarding the voting power of affiliates, a proportionality criterion in relation to the number of indirectly represented members in the general assembly, according to rules established in the bylaws.

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Art. 12 The CMN, in the exercise of the powers attributed to it by the legislation governing the SFN, may provide, including, on the following matters:

• I – requirements to be met prior to the constitution or transformation of credit cooperatives, with a view to the respective authorization process under the responsibility of the Central Bank of Brazil;
• I – conditions for the constitution and operation of credit cooperatives and of service confederations constituted by central credit cooperatives, with a view to the respective authorization process by the Central Bank of Brazil; (Text given by Complementary Law No. 196, of 2022)
• II – conditions to be observed in the formation of the members’ body and in the execution of contracts with other institutions;
• II – conditions to be observed in the drafting of the bylaws, in the formation of the members’ body, in the holding of assemblies and deliberative meetings and in the execution of contracts with other institutions; (Text given by Complementary Law No. 196, of 2022)
• III – types of activities to be developed and financial instruments that may be used;
• IV – guarantee funds, including the linking of credit cooperatives to such funds;
• IV – guarantee funds, including the linking of credit cooperatives to such funds, the setting of conditions for the exercise of positions in their statutory bodies and the establishment of requirements for those occupying such positions to have access to data and information protected by legal secrecy; (Text given by Complementary Law No. 196, of 2022)
• V – activities carried out by entities of any nature that have as their object to exercise, with respect to a group of credit cooperatives, supervision, control, audit, management or execution on a larger scale of their operational functions;
• V – activities carried out by entities of any nature that have as their object to exercise, with respect to a group of credit cooperatives or the service confederations constituted by central credit cooperatives, supervision, control, audit, certification of employees and managers and management or execution on a larger scale of their operational functions; (Text given by Complementary Law No. 196, of 2022)
• VI – linking to entities that, under regulation, carry out supervision, control and audit of credit cooperatives;
• VI – linking to entities that, under regulation, carry out supervision, control and audit of credit cooperatives and of service confederations constituted by central credit cooperatives; (Text given by Complementary Law No. 196, of 2022)
• VII – conditions of corporate participation in other entities, including non‑cooperative nature, with a view to meeting complementary or ancillary purposes, in the interest of the members’ body and the community; (Text given by Complementary Law No. 196, of 2022)
• VIII – additional requirements for the exercise of the faculty referred to in art. 9º of this Complementary Law.
• IX – composition and renewal of members of the boards of directors and audit councils and requirements for exercising functions in those councils and in the executive board of credit cooperatives and of the service confederations constituted by central credit cooperatives; (Included by Complementary Law No. 196, of 2022)

X – conditions for the general assembly to allocate surplus to replenish resources of the guarantee funds referred to in item IV of this caput used in assistance and financial support operations to the singular credit cooperative; and (Added by Complementary Law No. 196, 2022)

XI – conditions for the Central Bank of Brazil to grant the authorization referred to in art. 16-A of this Complementary Law and other aspects necessary for the execution of the measure provided therein, including criteria for the appointment and removal of occupants of statutory positions of the affected affiliated cooperative; (Added by Complementary Law No. 196, 2022)

§ 1 The exercise of the activities referred to in item V of the caput of this article, regulated by the National Monetary Council – CMN, is subject to supervision by the Central Bank of Brazil, and the same sanctions provided in the legislation for financial institutions apply to the respective entities and their administrators.

§ 2 The Central Bank of Brazil, in the exercise of its supervisory competence over credit cooperatives, as well as the entity that carries out, under CMN regulation, local supervisory activities, may convene an extraordinary general assembly of the supervised institution, to which they may send representatives with speaking rights.

§ 2º The Central Bank of Brazil, in the exercise of its supervisory competence over credit cooperatives and the confederations of service constituted by central credit cooperatives, as well as the entity that carries out supervisory activities, under the terms of item V of the caput of this article, may convene an extraordinary general assembly of the supervised institution, to which they may send representatives with speaking rights. (Edited by Complementary Law No. 196, 2022)

Art. 13. Access to information belonging to credit cooperatives by central credit cooperatives, confederations of central credit cooperatives and other entities constituted by this financial segment does not constitute a violation of the confidentiality duty provided by current legislation, provided it occurs exclusively in the performance of supervisory, audit, control and operational functions of the credit cooperatives.

Sole paragraph. The entities mentioned in the caput of this article must keep confidentiality regarding the information they obtain in the exercise of their duties, as well as report to the competent authorities any indications of criminal or administrative offenses or operations involving resources derived from any criminal practice.

Art. 13. The following do not constitute a violation of the confidentiality duty provided by current legislation: (Added by Complementary Law No. 196, 2022)

I – access, by central credit cooperatives, by confederations constituted by central credit cooperatives and by the entities referred to in item V of the caput of art. 12 of this Complementary Law, to data and information held by credit cooperatives and by service confederations constituted by central credit cooperatives, provided it occurs exclusively in the performance of supervisory, audit, control and operational functions of the credit cooperatives and of the service confederations constituted by central credit cooperatives; (Added by Complementary Law No. 196, 2022)

II – the sharing, by the Central Bank of Brazil, of data and information about a credit cooperative or about a service confederation constituted by central credit cooperatives with the entity that carries out the audit activity referred to in item V of the caput of art. 12 of this Complementary Law, including information relating to operations carried out by the audited institutions with other institutions authorized to operate by the Central Bank of Brazil necessary for that activity; (Added by Complementary Law No. 196, 2022)

III – the sharing, with the Central Bank of Brazil, by the entities referred to in item V of the caput of art. 12 of this Complementary Law, of data and information they obtain in the performance of their activities; (Added by Complementary Law No. 196, 2022)

IV – the access, by the guarantee funds referred to in item IV of the caput of art. 12 of this Complementary Law, to data and information held by credit cooperatives, provided it occurs exclusively in the performance of monitoring, assistance and financial support duties to the singular credit cooperative; (Added by Complementary Law No. 196, 2022)

V – the sharing, by the Central Bank of Brazil, with the guarantee funds referred to in item IV of the caput of art. 12 of this Complementary Law, of data and information about a credit cooperative, provided it occurs exclusively for the performance of monitoring, assistance and financial support duties to the singular credit cooperative; and (Added by Complementary Law No. 196, 2022)

VI – the sharing with the Central Bank of Brazil, by the guarantee funds referred to in item IV of the caput of art. 12 of this Complementary Law, of data and information obtained in the performance of their monitoring, assistance and financial support activities. (Added by Complementary Law No. 196, 2022)

Sole paragraph. (Repealed). (Edited by Complementary Law No. 196, 2022)

§ 1º The entity that carries out the activities referred to in item V of the caput of art. 12 of this Complementary Law: (Added by Complementary Law No. 196, 2022)

I – must keep confidentiality regarding the information it obtains in the exercise of its duties, as well as report to the competent authorities any indications of criminal or administrative offenses or operations that involve resources derived from any criminal practice; and (Added by Complementary Law No. 196, 2022)

II – may not deny or hinder access to records, books, documents and working papers, nor refuse to exhibit or provide them to the Central Bank of Brazil. (Added by Complementary Law No. 196, 2022)

§ 2º The data and information sharing referred to in items II, III, V and VI of the caput of this article may be carried out regardless of authorization from the credit cooperative, the service confederation constituted by central credit cooperatives or other persons to whom the information may refer. (Added by Complementary Law No. 196, 2022)

§ 3º The guarantee funds referred to in item IV of the caput of art. 12 of this Complementary Law must keep confidentiality regarding the operations they carry out and the information and data they obtain in the exercise of their duties. (Added by Complementary Law No. 196, 2022)

Art. 14. Singular credit cooperatives may constitute central credit cooperatives with the objective of organizing, by common agreement and on a larger scale, the economic and assistance services of interest to the affiliates, integrating and guiding their activities, as well as facilitating the reciprocal use of services.

Sole paragraph. The activities referred to in the caput of this article, respecting the competence of the National Monetary Council and preserving the involved responsibilities, may be delegated to the confederations constituted by central credit cooperatives.

Art. 14-A. A singular credit cooperative may only disaffiliate from a central credit cooperative, by its own initiative or by the central credit cooperative, when it is within the operational limits established by the legislation in force. (Added by Complementary Law No. 196, 2022)

Sole paragraph. Disaffiliation, by the singular credit cooperative, on its own initiative, from the central credit cooperative to which it is affiliated, depends on the agreement: (Added by Complementary Law No. 196, 2022)

I – of the majority of its members, to become independent; or (Added by Complementary Law No. 196, 2022)

II – of the majority of voting members representing at least 1/3 (one third) of the members, to affiliate with another central credit cooperative. (Added by Complementary Law No. 196, 2022)

Art. 15. Confederations constituted by central credit cooperatives have the purpose of guiding, coordinating and executing activities of these, in cases where the magnitude of the enterprises and the nature of the activities exceed the capacity or convenience of operation of the associated entities.

Art. 15-A. A central credit cooperative may only disaffiliate from a confederation constituted by central credit cooperatives, by its own initiative or by the confederation, when it is within the operational limits established by the legislation in force. (Added by Complementary Law No. 196, 2022)

Sole paragraph. Disaffiliation, by the central credit cooperative, on its own initiative, from a confederation constituted by central credit cooperatives, depends on the agreement of at least 2/3 (two thirds) of its members, in a general assembly convened exclusively for this purpose, ensuring the participation of the confederation's legal representatives, with speaking rights. (Added by Complementary Law No. 196, 2022)

Art. 16. Credit cooperatives may be assisted, on a temporary basis, through co‑management administration by the respective central cooperative or confederation of centrals to remedy irregularities or in case of risk to the solidity of the society itself, observing the following conditions:

I – existence of a specific clause in the statutes of the assisted cooperative, containing a provision for the possibility of implementing this regime and the signing of the agreement referred to in item II of the caput of this article;

II – signing of an agreement between the cooperative to be assisted and the potential co‑manager, to be ratified by the general assembly, establishing at least the characterization of situations considered risky that justify the implementation of the co‑management regime, the procedure for such implementation by initiative of the co‑manager entity and the regulations to be observed during co‑management;

III – holding, within up to 1 (one) year from the implementation of co‑management, an extraordinary general assembly to deliberate on the maintenance of this regime and the adoption of other measures deemed necessary.

Art. 16-A. The Central Bank of Brazil, observing the conditions established by the CMN, may authorize the central credit cooperative or the confederation constituted by central credit cooperatives to temporarily assume the administration of a credit cooperative under its supervision, in situations that compromise or may compromise the continuity of the affiliate or that cause or may cause losses to its members. (Added by Complementary Law No. 196, 2022)

§ 1º Granted the authorization referred to in the caput of this article and while the measure lasts: (Added by Complementary Law No. 196, 2022)

I – the credit cooperative shall be prevented from disaffiliating from the central credit cooperative or the confederation constituted by central credit cooperatives and from terminating the supervision activity provided for in item V of the caput of art. 12 of this Complementary Law; and (Added by Complementary Law No. 196, 2022)

II – the central credit cooperative or the confederation constituted by central credit cooperatives that assumes the administration may determine the removal of any directors and members of the board of directors and audit board of the affected affiliated credit cooperative. (Added by Complementary Law No. 196, 2022)

§ 2º The adoption of the measures referred to in § 1 of this article does not depend on approval in a general assembly or on provision in the statutes of the affected affiliated credit cooperative. (Added by Complementary Law No. 196, 2022)

Art. 17. The ordinary general assembly of credit cooperatives shall be held annually, in the first four months of the fiscal year.

Art. 17. The ordinary general assembly of credit cooperatives and of service confederations constituted by central credit cooperatives shall be held annually, in the first four months of the fiscal year. (Edited by Complementary Law No. 196, 2022)

Art. 17-A. The general assemblies of credit cooperatives and of service confederations constituted by central credit cooperatives may be held in person, remotely, or both in person and remotely simultaneously. (Added by Complementary Law No. 196, 2022)

§ 1º The credit cooperative or the service confederation constituted by central credit cooperatives shall enable participation and interaction between members and the assembly and ensure the inviolability of the voting process. (Added by Complementary Law No. 196, 2022)

§ 2º Representation of members by delegates in the general assemblies of singular credit cooperatives is allowed, observed the regulation of the CMN. (Added by Complementary Law No. 196, 2022)

Art. 17-B. Notices for the general assemblies shall be made with a minimum advance of 10 (ten) days and highlighted on the cooperative's website or in an unrestricted public access repository on the internet. (Added by Complementary Law No. 196, 2022)

Sole paragraph. The notice of convening the general assembly must contain, at minimum: (Added by Complementary Law No. 196, 2022)

I – the matters to be deliberated;

II – the manner in which the general assembly will be held;

III – the method of access to the communication means provided for member participation, in case of a remote or hybrid assembly; and

IV – the procedures for accessing the voting system, as well as the period for receiving votes.

Art. 17-C. Credit cooperatives and service confederations constituted by central credit cooperatives are required to establish a Technical, Educational and Social Assistance Fund, which shall be constituted of at least 5% (five percent) of the net surplus determined in the fiscal year and destined for assistance to members and their families. (Added by Complementary Law No. 196, 2022)

Sole paragraph. With express provision in the statutes, the fund referred to in the caput of this article may also be destined to assistance to the employees of the credit cooperative or of the service confederation constituted by central credit cooperatives and to the community located in its area of action. (Added by Complementary Law No. 196, 2022)

Art. 17-D. Capital balances, capital remuneration or surplus payable not claimed by dismissed, eliminated or excluded members shall be transferred to the reserve fund of the credit cooperative after five (five) years from dismissal, elimination or exclusion. (Added by Complementary Law No. 196, 2022)

Art. 17-E. The hiring, by credit cooperatives, of services of cooperative banks does not create an employment relationship between their employees and the referred banks nor changes their professional condition. (Added by Complementary Law No. 196, 2022)

Art. 18. Articles 40 and 41 of Law No. 4,595, of December 31, 1964, and § 3 of art. 10, § 10 of art. 18, the sole paragraph of art. 86 and art. 84 of Law No. 5,764, of December 16, 1971, are revoked.

Art. 19. This Complementary Law enters into force on the date of its publication.

Brasília, April 17, 2009; 188th of Independence and 121st of the Republic.

LUIZ INÁCIO LULA DA SILVA

Guido Mantega Reinhold Stephanes

Carlos Lupi

This text does not replace the one published in the Official Gazette on 17.4.2009 - Extra edition