Cooperative, cooperative association
A cooperative under the Law is a different type of association which is established by notarial deed. The cooperative is an association of which the members pool their resources to run a business under a joint name.
According to Law in the Articles of Association of a cooperative the objective has to be defined as “providing the members of a certain physical need”.
Unlike a Limited there are few mandatory rules of law to set up and operate the cooperative. Hence, legal person proofs a flexible alternative to other legal structures.
