Official Letter Authorizing Fondo Solidario del Frente Democrático Campesino, S.C. de A.P. de R.L. de C.V. to Continue Savings and Loan Operations

DOF: 13/07/2017

OFFICIAL LETTER granting authorization to Fondo Solidario del Frente Democrático Campesino, S.C. de A.P. de R.L. de C.V. to continue conducting savings and loan operations.

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Vice Presidency of Regulation.- Vice Presidency of Supervision of Development Banking and Popular Finance.- General Directorate of Special Authorizations.- General Directorate of Supervision of Savings and Loan Cooperatives B.-

Official Letter No. P-128/2017.- Exp. CNBV.311.311.16 (7778) "2017-06-08" <10>.

Subject:

Authorization to Fondo Solidario del Frente Democrático Campesino, S.C. de A.P. de R.L. de C.V. to continue conducting savings and loan operations.

AUXILIARY SUPERVISION COMMITTEE OF THE AUXILIARY SUPERVISION FUND FOR SAVINGS AND LOAN COOPERATIVE SOCIETIES AND FOR THE PROTECTION OF THEIR SAVINGS

Blvd. Adolfo López Mateos No. 2607, interior 3 Col. Barrio de Guadalupe, C.P. 37280, León, Gto.

FONDO SOLIDARIO DEL FRENTE DEMOCRÁTICO CAMPESINO, S.C. DE A.P. DE R.L. DE C.V.

Agustín Melgar núm. 804, Colonia Centro, Ciudad Cuauhtémoc, C.P. 31500, Chihuahua

TO:

L.A.E. Jorge Valle Pérez President of the Auxiliary Supervision Committee

C. Pedro José Torres Ochoa Representative of the society

By written submission presented on September 3, 2014, the Auxiliary Supervision Committee of the Auxiliary Supervision Fund for Savings and Loan Cooperative Societies and for the Protection of their Savings, through its President, Mr. Jorge Valle Pérez, submitted to this National Banking and Securities Commission the request for authorization for Fondo Solidario del Frente Democrático Campesino, S.C. de A.P. de R.L. de C.V. to continue conducting savings and loan operations, in accordance with Article 10 of the Law for Regulating the Activities of Savings and Loan Cooperative Societies.

With written submissions presented on May 13 and June 3, 2016, as well as January 10 and March 2, 2017, the Auxiliary Supervision Committee of the Auxiliary Supervision Fund for Savings and Loan Cooperative Societies and for the Protection of their Savings, in extension of its request, provided documentation and complementary information related to the matter at hand.

Regarding this matter, the Board of Directors of this Commission, in a session held on May 29, 2017, based on Article 10 of the Law for Regulating the Activities of Savings and Loan Cooperative Societies, and

CONSIDERING

FIRST.- That the Auxiliary Supervision Committee of the Auxiliary Supervision Fund for Savings and Loan Cooperative Societies and for the Protection of their Savings issued its favorable opinion on August 25, 2014, regarding the authorization request in question;

SECOND.- That the documentation and information presented in connection with the authorization request for Fondo Solidario del Frente Democrático Campesino, S.C. de A.P. de R.L. de C.V. to continue conducting savings and loan operations, complies with the requirements set forth in Articles 10 and 11 of the Law for Regulating the Activities of Savings and Loan Cooperative Societies and Articles 2, 3, and 192 of the General Provisions applicable to the activities of savings and loan cooperative societies; and

THIRD.- That from the analysis of the received documentation and information, it was concluded that, from a legal, financial, and operational standpoint, it is appropriate to grant the requested authorization, it adopted the following:

AGREEMENT

"NINTH.- The members of the Board of Directors, based on Article 12, fraction V of the Law of the National Banking and Securities Commission, taking into consideration the favorable opinion issued by the Authorization Committee of the National Banking and Securities Commission in its session held on May 22, 2017, unanimously authorized Fondo Solidario del Frente Democrático Campesino, S.C. de A.P. de R.L. de C.V. to continue conducting savings and loan operations at a Level I operational level, under its same denomination, in accordance with the Law for Regulating the Activities of Savings and Loan Cooperative Societies. "

The society to which this authorization is granted to continue conducting savings and loan operations will be subject to the following:

BASES

FIRST.-

The name of the society is Fondo Solidario del Frente Democrático Campesino, which shall be used followed by the words Sociedad Cooperativa de Ahorro y Préstamo de Responsabilidad Limitada de Capital Variable or its abbreviations S.C. de A.P. de R.L. de C.V.

SECOND.-

Its duration shall be indefinite.

THIRD.-

Its corporate purpose shall include carrying out all operations set forth in Article 19, fraction I of the Law for Regulating the Activities of Savings and Loan Cooperative Societies.

FOURTH.-

Its registered office shall be located in Ciudad Cuauhtémoc, Chihuahua.

FIFTH.-

The cooperative society shall have a Level I operational level.

SIXTH.-

The authorization referred to in this official letter is, by its very nature, non-transferable.

SEVENTH.-

The cooperative society shall be subject to the supervision of the National Banking and Securities Commission, as well as to the auxiliary supervision of the Auxiliary Supervision Committee of the Auxiliary Supervision Fund for Savings and Loan Cooperative Societies and for the Protection of their Savings.

EIGHTH.-

The savings and loan operations that the cooperative society enters into by virtue of this authorization, as well as other operations it carries out, as well as its organization and functioning in general, shall be subject, insofar as not expressly stated in this official letter, to the Political Constitution of the United Mexican States, to the General Law of Cooperative Societies, to the Law for Regulating the Activities of Savings and Loan Cooperative Societies, to the rules and general provisions applicable to savings and loan cooperative societies issued by the National Banking and Securities Commission, to the provisions regarding its operations issued by the Bank of Mexico, and to other current and future norms and provisions issued by any competent authority, including those related to the prevention of operations with resources of illicit origin and financing of terrorism, which are applicable by their nature.

Furthermore, and complementary to the agreement adopted by the Board of Directors authorizing Fondo Solidario del Frente Democrático Campesino, S.C. de A.P. de R.L. de C.V. to continue conducting savings and loan operations, this Commission, based on the provisions of Article 19 of the Law of the National Banking and Securities Commission and Article 70 of the Law for Regulating the Activities of Savings and Loan Cooperative Societies, requires that cooperative society:

First:

To register this authorization in the Public Commerce Registry corresponding to its registered office, no later than within 60 natural days following its notification, and to send the respective testimony to this Commission within 15 natural days subsequent to the registration, in accordance with the provisions of Article 10, penultimate paragraph of the Law for Regulating the Activities of Savings and Loan Cooperative Societies.

Second:

To carry out, no later than within 60 natural days counted from the date of notification of this official letter, the corporate acts necessary to adjust its constitutive bases to the Law for Regulating the Activities of Savings and Loan Cooperative Societies and to the General Law of Cooperative Societies, and to request the approval provided for in Article 30 Bis of the Law for Regulating the Activities of Savings and Loan Cooperative Societies, subject to the procedure and terms referred to in the aforementioned legal provision.

Also attached to this, duly stamped, is the draft of the constitutive bases of Fondo Solidario del Frente Democrático Campesino, S.C. de A.P. de R.L. de C.V. that accompanied its authorization request, in order to request the approval provided for in Article 30 Bis of the Law for Regulating the Activities of Savings and Loan Cooperative Societies, within the terms and deadlines required above.

The Commission will publish this official letter in the Official Gazette of the Federation, in accordance with the provisions of Article 10, penultimate paragraph of the Law for Regulating the Activities of Savings and Loan Cooperative Societies.

The foregoing is communicated based on Articles 121, 123, and 132 of the Law for Regulating the Activities of Savings and Loan Cooperative Societies; Articles 16, fractions I and VI of the Law of the National Banking and Securities Commission; and Articles 9, 12, and 13 of the Internal Regulations of the National Banking and Securities Commission, published in the Official Gazette of the Federation on November 12, 2014.

Respectfully,

Mexico City, June 8, 2017. -

The President, Jaime González Aguadé.- Signature.

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