CHAPTER II - LEGAL CAPACITY, NET WORTH AND RESOURCES
This document and/or information was originally written in Spanish, the official language of Uruguay, the country where LACNIC is legally incorporated and whose laws and regulations govern the organization. Likewise, unofficial information and/or documents are also written in Spanish, as this is the language in which most of LACNIC's advisors and officers work and communicate. We do our best to ensure that our translations are reliable and serve as a guide for our non-Spanish-speaking members. However, discrepancies may exist between the translations and the original document and/or information written in Spanish. In such cases, the original text written in Spanish will always prevail.
LACNIC has the legal capacity to acquire assets and incur obligations and may therefore operate with public and private banking and financial institutions.
LACNIC's net worth comprises the assets it currently possesses and those it may acquire henceforth in any capacity, as well as the resources obtained as follows:
- Ordinary and extraordinary fees paid by its members.
- Any income generated by its assets.
- Donations, inheritances, legacies, and grants.
- Any income it may obtain as a result of the activities within the framework of its goals.
- Any other income it may legally obtain in accordance with the non-profit nature of the institution.
The structure of LACNIC comprises:
- Members, who hold the power within the institution.
- The Assembly, which is the governing body of LACNIC.
- The Board of Directors, which manages and administers the institution.
- The Fiscal Commission, which oversees the operation of the institution and the actions of the Board of Directors.
- The Electoral Commission, which is responsible for organizing elections.
- The Committees, which execute the actions of the institution.
* Article modified by the Member Assembly held on 29 May 2008.