It is the document through which a nonprofit civil association is created, that is, a legal private entity which, without aiming profit, dedicates its time to develop activities of philanthropic, social, cultural, and educational nature.
The statute governs the operation of the institution. What is not foreseen in the law and which is defined as the prospects of the associates must be included in the statute.
In the constitutive act, the social objectives of the association, ie the purposes for which it is being created, the procedures for admission of new members, and the organization of its deliberative bodies, such as the General Assembly, and the executive and administrative bodies such as its Administrative Board and its Auditing Board shall be specified, among other information. The financial resources that will sustain the activities of the association will also be described.
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