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Model Law on the Simplified Corporation:
Status of Reforms in the Region
The Department of International Law
to announce publication of the
Model Law on the
Simplified Corporation: Status of Reforms in the
Region. Part I is a compilation of reports on
the status of reforms in 11 states within the
region. Part II explains twelve key elements of
the Model Law that comprise the essence of a
The Model Law, approved by the Inter-American
Juridical Committee in 2012, [CJI/RES. 188] is
based largely on the successful Colombian Law,
as explained in that country’s report included
in Part I. Thereafter, the Model Law was noted
by the General Assembly [AG/RES. 2906
(XLVII-O/17)] which instructed the Department of
International Law to “disseminate the Model Law
as widely as possible” invited Member States “to
adopt, in accordance with their domestic laws
and regulatory framework, those aspects of the
Model Law that are in their interest.” This
report has been prepared in furtherance of that
mandate with the assistance of contributions
from those Focal Points for the Model Law who
have been appointed by Member States.
While many states in the Americas continue to
use outdated corporate and commercial codes that
hamper business start-up and entrepreneurship,
this report illustrates how the Model Law is
being applied throughout the region to offer a
simple alternative and thereby encourage
formalization, foster competitiveness, and
stimulate economic development.
Link to Report.
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