Daniel Ortega’s regime, through its steamroller of deputies in the National Assembly, will change the regime from “non-profit associations” to “commercial legal regime” to five non-governmental entities.
The NGOs that will act as companies are the Nicaraguan Spanish Association, Terraza Club Association, Nejapa Country Club Association, Chinandega Country Club and Cocibolca Equestrian Center Association (ASOCECO).
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The initiative of a special law for the change of regime of legal entities was presented by the Sandinista deputy and sanctioned president in the National Assembly, Gustavo Porras.
In the explanatory memorandum, the parliamentarian pointed out that «Law 1115, General Law for the Regulation and Control of Non-Profit Organizations, published in La Gaceta, Official Gazette No. 66 of April 6, 2022, entered into force on May 6 of the current; The Law defines Non-Profit Organizations (NPO) as “Non-profit legal person, whose purpose is humanitarian, religious, cultural, educational, social or fraternal or for the performance of other types of altruistic actions that are generally They finance with help and donations.
It also indicated that based on the reform of the Law for the Regulation and Control of Non-Profit Organisms, “those institutions that hold the legal status of Non-Profit Associations, but whose economic activity, they carry out acts of commerce, is not compatible with the nature of the NPOs established by the new law.
They will continue to function, but not as an NGO
Porras explained “the transfer of the legal regime consists in the fact that the commercial companies created will be successors without a solution of continuity to the canceled legal entities”, but the continuity of the economic activity of each of the companies is guaranteed, “if so provided by the partners”.
Regarding the constitution of registration of the new mercantile companies —according to the Ortega regime— to give continuity to their economic activity, “the aforementioned legal persons will proceed to constitute a mercantile company, which for such purposes is determined by its members in strict compliance with the constitutional principle of business freedom that assists them.
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“The foregoing will be carried out without prejudice to the fact that the canceled legal entities previously comply with all the fiscal obligations they may have,” the document indicates.
They add that the commercial companies created will be successors without interruption of the canceled legal entities and must register and register with the corresponding authorities within a period of 90 days, counted from the publication and entry into force of this Law.
According to Gustavo Porras, after the period of 90 days after the entry into force of the Law, the General Directorate of Registration and Control of Non-Profit Organizations of the Ministry of the Interior, “will proceed ex officio to cancel the registration of the legal persons referred to in article 1 of this law.
In addition, the legal representative of the associations will be informed so that they can proceed to deliver the law books, the entity’s seal and other documents; Likewise, you must notify the corresponding authorities in this regard.
The initiative concludes by indicating that public entities will proceed according to their powers to register the new commercial companies, as well as the transfer and registration of goods and assets. This law will enter into force as of publication in La Gaceta, official newspaper.
