X

Legal Bulletin

logo

TIME LIMIT FOR THE INVESTMENT IN PERMANENT ASSIGNMENTS OF NON-FOR-PROFIT ENTITIES

A limit of 5 years applies. New assets can be acquired with these assignments, as long as they are destined to the development of the meritorious activity

 

When an investment program is being implemented whose execution requires additional terms or new permanent allocations, an authorization by the General Assembly or governing body of the entity will be required. However, permanent assignments may not have a term of more than five (5) years.

With permanent assignments, new assets can be acquired, as long as they are destined to the development of meritorious activity. However, the profits acquired with the permanent assignments must be destined to the development of the social object of the entities.

This treatment is regulated in Article 153 of Law 1819 of 2016.