Government Ordinance no. 26/2000 on associations and foundations was amended

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Government Ordinance no. 26/2000 on associations and foundations was amended

Law no. 276/2020 for the amendment and completion of the Government Ordinance no. 26/2000 on associations and foundations will enter into force on December 5, 2020

It is no longer necessary to conclude the constitutive act of the association or foundation, but only the statute will be concluded, by act under private signature;

If the name of the association is in a language other than Romanian, a legalized translation made by an authorized translator will be attached only to the request for issuing the proof of availability of the name, the translation of the name into Romanian is not mandatory;

The approval of the owners’ association is no longer necessary if the association’s headquarters are declared in a condominium, if the association will not carry out activity at the chosen headquarters, declaring this on its own responsibility through the authorized person;

There is no longer a minimum limit of the initial patrimony of the association of 200 lei;

It is no longer necessary to submit the proof regarding the initial patrimony of the association in court;

The branch of an association, as a territorial structure, can now be established with a minimum number of 2 members;

The initial patrimonial asset of the foundation must include goods in kind or in cash whose total value must now be at least 10 times (previously 100 times) the minimum gross basic salary per country guaranteed in payment, and in the case of foundations whose the sole purpose is to carry out fundraising operations to be made available to other associations or foundations, the initial patrimonial asset may have a total value of at least twice (previously 20 times) the minimum gross basic salary guaranteed in payment;

The number of members of the Board of Directors outside the association was increased to one third of its composition (previously a quarter);

It is expressly specified the possibility of holding the meetings of the General Assembly and the Board of Directors by means of distance communication, the decisions being able to be signed by the members, including with the extended electronic signature;

Associations or foundations established / led only by natural persons are exempted from the obligation to submit the declaration regarding the real beneficiary, when the only real beneficiaries are those provided in the statute;

The declaration regarding the real beneficiary can have the form to be registered under private signature or electronic form.

Reed more: https://mhlaw.ro/legal-updates/23-noiembrie-3-decembrie/

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