Lei nº 10.194, de 14 de fevereiro de 2001 — Dispõe sobre a instituição de sociedades de crédito ao microempreendedor, altera dispositivos das Leis nos 6.404, 8.029 e 8.934, e dá outras providências (Law No. 10,194 of 14 February 2001 on the establishment of microentrepreneur credit companies, amending Laws 6,404, 8,029 and 8,934)

English translation of the Portuguese text from planalto.gov.br (the Portuguese text is the official one). Retrieved 2026-10-26.

Presidency of the Republic

Civil House

Deputy Office for Legal Affairs

LAW No. 10.194, OF 14 FEBRUARY 2001.

Compiled text

Conversion of Provisional Measure No. 2.082-40, of 2001

Provides for the establishment of microentrepreneur credit societies, amends provisions of Laws No. 6.404, of 15 December 1976, 8.029, of 12 April 1990, and 8.934, of 18 November 1994, and makes other provisions.

I hereby make known that the PRESIDENT OF THE REPUBLIC adopted Provisional Measure No. 2.082-40, of 2001, which the National Congress approved, and I, Antonio Carlos Magalhães, President, for the purposes of the provisions of the sole paragraph of art. 62 of the Federal Constitution, enact the following Law:

Art. 1 The establishment of microentrepreneur credit societies is authorized, which:

I - shall have as their exclusive corporate purpose the granting of financing to natural persons and microenterprises, with a view to enabling small-scale professional, commercial or industrial undertakings, being equivalent to financial institutions for the purposes of the legislation in force;

I - shall have as their corporate purpose the granting of financing to natural persons and microenterprises, with a view to enabling small-scale professional, commercial or industrial undertakings, being equivalent to financial institutions for the purposes of the legislation in force, and may carry out other activities defined by the National Monetary Council; (Redaction given by Law No. 11.110, of 2005)

Art. 1 The incorporation of Microentrepreneur and Small Business Credit Societies is authorized, which: (Redaction given by Law No. 11.524, of 2007)

I - shall have as their corporate purpose the granting of financing to natural persons, microenterprises and small businesses, with a view to enabling professional, commercial or industrial undertakings, being equivalent to financial institutions for the purposes of the legislation in force, and may carry out other activities defined by the National Monetary Council; (Redaction given by Law No. 11.524, of 2007)

II - shall have their incorporation, organization and operation governed by the National Monetary Council;

III - shall be subject to the supervision of the Central Bank of Brazil;

IV - may use the institute of fiduciary alienation in their credit operations;

V - shall be prohibited from raising funds from the public in any form, as well as from issuing securities destined for public placement and offering.

Art. 2 Art. 146 and the caput of art. 294 of Law No. 6.404, of 15 December 1976, with the amendment introduced by Law No. 9.457, of 5 May 1997, shall come into force with the following wording:

"Art. 146. Natural persons may be elected as members of the management bodies, and the members of the board of directors must be shareholders and the directors residents in the Country, whether shareholders or not.

§ 1 The minutes of the general meeting or of the meeting of the board of directors that elects administrators shall contain the qualification of each of the elected and the term of management, be filed with the commercial registry and published.

§ 2 The investiture of a board member resident or domiciled abroad is conditioned upon the appointment of an attorney resident in the Country, with powers to receive service of process in actions brought against him based on corporate legislation, with a term of validity coinciding with that of the mandate." (NR)

"Art. 294. The closed company that has fewer than twenty shareholders, with net equity less than R$ 1.000.000,00 (one million reais), may:" (NR)

Art. 3 Art. 11 of Law No. 8.029, of 12 April 1990, introduced by art. 2 of Law No. 8.154, of 28 December 1990, shall come into force with the addition of the following § 2, with the current sole paragraph being changed to § 1 and new wording being given to its caput:

Art. 11. ..........................................................

§ 1

The resources referred to in this article, which shall have as their primary objective to support the development of micro and small enterprises through projects and programs aimed at their technical improvement, rationalization, modernization, managerial training, as well as facilitating access to credit, capitalization and the strengthening of the secondary market for capitalization securities of these enterprises, shall have the following destination:

...........................................................................

§ 2 The projects or programs destined to facilitate access to credit referred to in the previous paragraph may be carried out:

a) through the allocation of financial investments, in public or private financial agents, to back the provision of guarantee or surety in credit operations destined for microenterprises and small businesses;

b) through the application of financial resources in financial agents, public or private, Civil Society Organizations of Public Interest referred to in Law No. 9.790, of 23 March 1999, duly registered with the Ministry of Justice, which are dedicated to alternative credit systems, or credit societies whose exclusive corporate purpose is the granting of financing to microentrepreneurs;

c) through the acquisition or payment-in of quotas of mutual investment funds in the capital of emerging companies that destine to the capitalization of micro and small enterprises, especially those of technological base and exporters, at least the equivalent of the participation of the Brazilian Service of Support for Micro and Small Enterprises - SEBRAE in these funds;

d) through participation in the capital of an entity regulated by the Securities Commission - CVM that stimulates the strengthening of the secondary market for capitalization securities of micro and small enterprises.

§ 3 The participation of SEBRAE in the payment-in of quotas of mutual investment funds, referred to in subparagraph "c" of the previous paragraph, may not exceed fifty percent of the total quotas of these same funds." (NR)

Art. 4 o Art. 10, the caput of art. 11, item II of art. 12 and item II of art. 37 of Law no. 8.934, of 18 November 1994, shall come into force with the following wording:

"Art. 10. The Plenary, composed of Vowels and their respective alternates, shall be constituted by a minimum of eleven and a maximum of twenty-three Vowels." (NR)

"Art. 11. The Vowels and their respective alternates shall be appointed, in the Federal District, by the Minister of State for Development, Industry and Foreign Trade, and in the States, unless otherwise provided, by the governments of those circumscriptions, among Brazilians who satisfy the following conditions:

..............................................................................." (NR)

Art. 12.............................................................................

........................................................................................

II - one Vowel and respective alternate, representing the Union, by appointment of the Minister of State for Development, Industry and Foreign Trade;

.............................................................................." (NR)

Art. 37............................................................................

.......................................................................................

II - declaration by the holder or administrator, signed under penalty of law, that he is not prevented from engaging in commerce or the administration of a commercial company, by virtue of a criminal conviction;

................................................................................" (NR)

Art. 5 o The acts performed on the basis of Provisional Measure no. 2.082-39, of 27 December 2000, are validated.

Art. 6 o This Law shall enter into force on the date of its publication.

National Congress, in

14 February 2001; 180 o of Independence and 113 o of the Republic

Senator Antonio Carlos Magalhães

President

This text does not replace the one published in the DOU of 16.2.2001

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