RegAlert2009-04-17 | Lei Complementar 130/2009Added
Complementary Law No. 130, of April 17, 2009 – National Cooperative Credit System
The law subjects credit cooperatives and their service confederations to this Complementary Law, to the National Financial System legislation, and to the applicable cooperative statutes, while prohibiting mixed cooperatives with a credit section. It restricts the capture of resources and the granting of credit and guarantees to members, municipalities, other financial institutions and occasional corporate resources, and authorizes the provision of other financial services to non‑members under specific exceptions. Governance rules are established, including mandatory or optional boards of directors and audit councils, term limits of up to four years for directors and three years for auditors, and prohibitions on holding simultaneous positions in related entities; it also sets rules for capital‑quota restitution, surplus distribution, loss allocation, and the management of official or guarantee funds. The National Monetary Council (CMN) is empowered to issue further regulations on authorization, prudential requirements, and the conditions for shared‑resource credit operations and guarantee‑fund assignments.
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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:
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.
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Show all related documents (63)
- Supersedes
- Law No. 4595 dated 1964-12-31not in RegAlertLaw No. 5764 dated 1971-12-16not in RegAlert
- Basis for
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Source: Congresso Nacional do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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