THE REFORM OF THE PORTUGUESE COOPERATIVE CODE

Authors

  • Deolinda A. Meira
  • Maria Elisabete Gomes Ramos

Keywords:

Cooperatives, Governance, cooperative financial structure, plural vote, investor member

Abstract

The new Portuguese Cooperative Code has been approved by the Law no 119/2005, 31th august 2015, revoking the Cooperative Code approved in 1996. This reform of the Cooperative Code is a consequence of the Legal framework on the which article 13 imposes the reform of the legislation applicable to the cooperatives. The 2015 Cooperative Code reduces the required minimum number of co-operators for the cooperative incorporation; provides three legal alternatives of management and supervisory models. Regarding the financial structure of the Portuguese cooperatives, the 2015 Cooperative Code reduces the minimum share capital, provides for a further clarification of the co-operators’ liability and adopts new legal solutions for the cooperative reserves. This paper highlights the main changes brought by the 2015 Portuguese Cooperative Code.

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Published

2019-06-20

How to Cite

A. Meira, D., & Gomes Ramos, M. E. (2019). THE REFORM OF THE PORTUGUESE COOPERATIVE CODE. Cooperativismo E economía Social, 1(38). Retrieved from https://revistas.uvigo.es/index.php/CES/article/view/1275

Issue

Section

Doutrina