Special Capitalization Instrumentsin the Uruguayan Cooperative Law

Key Points

• The study examines the impact of the 2008 General Cooperatives Law on funding through capitalization instruments, particularly Subordinated and Interested Participations.
• It addresses emission requirements and the potential categorization of these instruments as securities within the stock market, bringing clarity to their legal nature.
• The implications of Income Tax on the viability of these capitalization instruments are also analyzed, suggesting a significant effect on cooperatives' financing options.
• Legal assessments provide key insights into the assets generated from these capitalization instruments, guiding future cooperative financial strategies.