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Every Non-Profit Organization has the obligation to annually renew its Commercial Registration and that of its commercial establishments. The renewal must be carried out the first three months of the year, i.e., no later than March 31, 2022.
Each Non-Profit Organization must summon to an ordinary meeting of its Highest Executive Body, within the first three months of the year or the term established in their statutes to consider the annual financial statements and management reports, appoint legal representatives and statutory auditors, among other matters.
Non-Profit organizations must submit financial information, management reports, budget reports, among others according to the dates established by the authority or entity that exercises inspection, surveillance or control over its activities It is important to mention that such date generally takes place during the first semester of the year.
All companies shall keep the accountancy and corporate books for a period of minimum 10 years, from the date of the last registration, document or any other type of entry.