Proposals for the flexibilization and modernization of regional Law 14/2006 on Cooperatives in Navarra

Abstract

Based on the desirability of regulating a flexible type of cooperative society, in which the autonomy of the members' will takes centre stage provided that it does not conflict with the values and mandate contained in the cooperative principles, this article aims to propose a legislative reform to make the Navarre Cooperatives Act more flexible and modern. In our view, the reform should focus on the configuration of new organisational and economic regimes. With regard to the organisational regime, the new model involves limiting the decision-making power of the general assembly and making the regulation of the administration system more flexible, as well as abolishing the intervention body. For its part, the proposal for the new economic regime model is based on a system of joint accounting of results, the relaxation of the legal treatment of the mandatory reserve fund and the clear determination of the limited liability of members for corporate debts. We understand that only on the basis of these considerations can cooperatives be established that are socially oriented, subject to their specific principles and purposes, and, moreover, attractive to members, efficient in business terms and in tune with the times.