What should my organization consider for the change of legal regimen of an NPO?

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On November 15, 2022, it has been published in The Gazette Official Daily No. 214, Law No. 1137, Special Law for the Change of Legal Regime of Non-Profit Organizations, which has the following objectives: 1. To establish special conditions and procedures for the change of the mercantile legal regime of 29 Non-Profit Organizations (hereinafter “NPOs”) to recipient mercantile entities; 2. To authorize the transfer of the patrimony, assets and obligations of the NPOs to the mercantile entities created under the laws of the Republic of Nicaragua, entities that will be successors without solution of continuity of the NPOs, and; 3. To cancel the legal personalities or the registration of the referred NPOs within a fatal term of 90 days, counted as of the entry into force of the law…

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