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Practical Manual of Companies 2022.


Regulation: Article 3 Law 49/2002

Non-profit entities will be considered entities regulated in article 2 of Law 49/2002, which meet the following requirements:

  1. Pursue purposes of general interest such as the defense of human rights, the promotion of the social economy, scientific research, among others.

  2. Allocate to the realization of said purposes at least 70 percent of the income and income referred to in article 3.2 of Law 49/2002, and the rest of the income and income to increase the equity endowment or reserves, within the period between the beginning of the year in which the respective income and income were obtained and the four years following the close of said year.

  3. That the activity carried out does not consist of the development of economic exploitations outside its statutory object or purpose.

  4. That the founders, associates, trustees, statutory representatives, members of the governing bodies and the spouses or relatives up to and including the fourth degree of any of them are not the main recipients of the activities that are carried out by the entities, nor do they benefit from special conditions to use their services.

  5. That the positions of employer, statutory representative and member of the governing body be free , with the exceptions provided for in Law 49/2002.

  6. That, in the event of dissolution , its assets are allocated in their entirety to one of the entities considered as beneficiary entities of patronage for the purposes provided for in articles 16 to 25 of Law 49/ 2002, or to public entities of a non-foundational nature that pursue purposes of general interest, and this circumstance is expressly contemplated in the founding business or in the statutes of the dissolved entity.

  7. That are registered in the corresponding registry.

  8. That they comply with the accounting obligations provided for in the regulations by which they are governed or, failing that, in the Commercial Code and complementary provisions.

  9. That they comply with the accountability obligations established by their specific legislation. In the absence of specific legal provision, they must render accounts within six months of the end of their fiscal year before the public body in charge of the corresponding registry.

  10. That they annually prepare an economic report in the terms indicated in Law 49/2002.