Mainly, it is convenient to say that cooperatives are associations, with legal personality, that are associated with natural or legal persons in order to satisfy a need or improve the social and economic situation of the members, with good management, democracy and variable capital. This purpose leads them to develop collective business activities, in which the partners make equal economic contributions and there is communal service; This improves human relationships and helps place collective interests above personal gain.
The Law considers lawful social or economic activities the object of the cooperative society, except those reserved by the Law.
It is important to mention that the responsibility of the associates for the social debts is limited to their contributions subscribed to the social capital, whether they have been paid or are pending payment. However, the associate who generates a cancellation in the cooperative must respond personally for social debts, prior exclusion from social credit, for three years on the basis of the loss of his or her membership status, due to the commitments acquired by the cooperative prior to its withdrawal. , up to the amount reimbursed of their contributions to the share capital. The bylaws can implement the method for quantification and the establishment of this responsibility.
The rights of cooperative members are:
Thus, the members of the cooperative have the obligation to:
Without prejudice to other responsibilities attributed to them, the members respond to the cooperative with their personal assets, present or future, for the breach or incorrect fulfillment of their social obligations.