ASOAMAZON MUTUAL FUND REGULATIONS
Article No. 1 This Allowance for member activities and support was established in the General Ordinary Meeting of AsoAmazon held on 17 December 2012.
Article No. 2 The objectives of this Allowance are the following:
- To provide economic aid to members and their beneficiaries in case of the member’s death or that of his/her direct family members.
- To aid members with cash or a payment in-kind when their personal property or that of their family members is affected by natural disasters.
- To promote activities or programs aimed at the members’ physical, educational, cultural and mental improvement.
Article No. 3 If a member resigns from the Solidarity Association, he/she will immediately stop receiving the benefits granted under this Allowance for member activities and support.
Article No. 4 The Allowance for member activities and support will be financed with fortnightly member contributions of ¢ 500,00 (five hundred colones) and with the profits obtained from the investments of the fund itself.
Las cuotas serán descontadas del salario de los asociados y depositadas en la cuenta de AsoAmazon, la cual tendrá la custodia y administración del fondo.
The monthly installments will be discounted from the members’ salary and deposited in the AsoAmazon account, which shall safekeep and administer the fund.
The monthly installment amount may be modified by the General Meeting (ordinary or extraordinary) with a majority vote, as per the established quorum.
The monthly amount contributed to the Allowance will not accrue nor bear interest in favor of the member, and it will not be returned to members that have resigned from AsoAmazon.
Article No. 5 In cases of a member’s death or that of his/her family members, the administrative department of AsoAmazon will review and approve or deny member applications to benefit from the Allowance for member activities and support, provided that the applications fulfill the applicable requirements and procedures, and such department will have three business days to solve the cases submitted.
In cases of natural disasters, the Board of Directors will review and approve or deny member applications to benefit from the Allowance for member activities and support, provided that the applications fulfill the applicable requirements and procedures, and the Board will have three business days to solve the cases submitted.
Upon approval of the cases, the management will have a 3-business day period to deposit the funds awarded as benefit in the member’s account or to write the check under the family member’s name.
Article No. 6 The Allowance for member activities and support will award an amount equal to ¢ 500,000.00 (five hundred thousand colones) in the following events:
- Death of the Member
- Death of the member’s spouse In cases of consensual union, the partner will be considered the spouse; however, he/she must appear as such in AsoAmazon’s Self-Management site.
- Death of the member’s child/children
- Death of the member’s father or mother
- Death of the member’s sibling(s)
- Death of the member’s adoption parent(s)
In addition, the member will receive support in the amount of ¢ 125,000 in the following events:
- Death of grandparents
- Birth of children
In cases of natural disasters where the member’s material property is affected, the committee, upon examining the case, will decide on the amount to award.
If there is a lack of sufficient resources, the allowance amount that will be awarded will be agreed upon by the Board of Directors.
The amounts established under this article will be reviewed by the committee every three months, using as parameter for such review the allowance inflows and outflows.
Article No. 7 In case of the member’s death, the amount will be disbursed to the beneficiary of the Allowance for member activities and support designated as such by the member in AsoAmazon’s Self-Management site.
Only one person may be designated as beneficiary of the Allowance for member activities and support, and his/her given name, surnames and ID number must be reported.
Members who fail to fulfill the foregoing will not enjoy the benefits established under this regulation.
Article No. 8 If the beneficiary is underage, AsoAmazon will summon the Child Welfare Agency (PANI in Spanish) and this Agency, through its legal representative, will be required to state whether it approves the payment of the corresponding amount to the beneficiary minor’s guardian. If the Agency is not in agreement with the payment, the amount will be deposited to the Agency.
Article No. 9 The member may change the beneficiary as many times as he/she deems necessary, by using the AsoAmazon self-management module.
Article No. 10 The requirements to receive the payment are the following:
For death-related aid:
– Copy of the death certificate
– Public Registry certificate evidencing the kinship
Aid in case of natural disasters affecting houses:
– Evidence that the member lives there and that the house is not leased
– Certificate from the National Emergency Commission issued within a maximum of 8 days following the event. Said certificate must include a full assessment of the damages, made by an expert.
The Board of Directors, to the extent possible, will designate one of its members to visit the site to verify the situation.
Article No. 11 If a member is found–at any moment–to have furnished one or more pieces of false data, he/she and his/her family members will lose the rights awarded under this Regulation. If a payment had already been made, the Board of Directors may sue him/her before the corresponding court and claim costs, damages and losses.
Article No. 12 Up to 30% of the Provision for member activities and support may be used to promote activities or programs aimed at the members’ physical, educational, cultural and mental improvement.
The activities scheduled must be available to all members, and restrictions will only be accepted where the general program specifications may affect the members’ physical or mental health.
Should the programs financed with this fund yield any profit, it will become part of the fund.
SOCIAL INCANTS CREDIT
Article No. 13 The requirements for members to use a special support credit will be governed by the following credit sub-regulations:
These regulations set forth the rules under which ASOAMAZON will manage the Member Support Credit Fund. This fund aims to provide additional financing to members facing difficult economic and social situations.
The beneficiaries of this type of credit are active ASOAMAZON members that are up to date with their obligations. Accordingly, all members will have the right to apply for these benefits after having been a member for six months (membership or re-membership).
The fund will be initially of 20,000,000.00 (twenty million colones), as provided for in the minutes of the Board of Directors dated 15 January 2018, and they will come from the Reserve for Member Activities and Support.
This fund will be increased fortnightly with 10% of the funds collected for said reserve and the interest generated from the credits granted under this line.
Moreover, the fund may obtain resources from events, extraordinary contributions, donations, both from Amazon and third parties.
This type of credit will bear an interest of 12% per annum.
The amounts that can be applied for will be established according to the term: If the term is longer than six months but shorter than a year, the maximum available credit is 250,000 colones, and if the term is longer than a year, then the maximum available credit will be 500,000 colones.
If it is found that the credit was not used for the established expenses, interest will increase to 17%.
The amounts will be subject to the economic availability of the Fund and may be reduced, increased or suspended at the discretion of the Board of Directors.
Approved Member Support Credit applications must be paid off within one year (or, in other words, in 24 fortnightly installments).
BOARD OF DIRECTORS AND MANAGEMENT
The Board of Directors will be responsible for:
– Approving or denying the applications for the credits established under these regulations.
– Overseeing, together with Management, the sustainability of the Member Support Credit Fund, thereby ensuring members are supported without depleting the Fund’s economic resources.
– Member Support Credit Fund applications will be reviewed in chronological order as they are submitted by members and will be subject to assessment by the Board of Directors and to the budget that is set annually.
– In emergency situations, Management, in coordination with the Board of Directors, will assess the case by electronic mail, and a resolution will be ratified in the immediately subsequent meeting. The approval by electronic mail must be given by a simple majority of the total Committee members.
APPROVAL OF APPLICATIONS
The Member Support Credit Fund has no obligation to provide credit to every applicant; credits are subject to assessment by the Board of Directors, who are responsible for examining each particular case, the number of cases of credits applied for during the month or period, and the available accrued funds in the solidarity fund.
All Fund credit applications must be submitted by electronic mail including all the documentation required under these Regulations or any other that, at the discretion of Management or the Board of Directors, is necessary to justify the credit.
To access the credit you must sign the credit application at the ASOAMAZON office.
Approval of the credit application will be informed to the applicant by Amazon email.
REMITTANCE OF THE FUNDS
The approved funds are transferred to the member’s bank account.
The Association reserves the power to define whether the approved funds can be transferred directly to a third party when the credit is intended as a contribution to or payoff of an obligation acquired with an entity or third party.
When so determined, the Board of Directors may request that the approved amount be disbursed in parts, in which case, the beneficiary member must submit the vouchers for the expenses before the following disbursement. Moreover, the Board of Directors also has the power to define the specific lines or expenses that will be covered with the disbursement or disbursements approved for the applicant member.
The Member Support Credit Fund encompasses all cases of credits applied for that cannot be classified under any of the other credit facilities of ASOAMAZON. Included, without limitation, are the following credit application cases:
– Theft or vandalism, fire, losses affecting the member’s house.
– Limitations in satisfying the family group’s food needs.
– Any other special situation seriously affecting the member’s economic and/or social condition.
– A disease situation involving the member or any of his/her first-degree relatives.
All members that require a Fund credit under these regulations are required to submit the required documentation in accordance with their need:
– Fill out the Fund credit application form completely.
– Include documents supporting the request, such as photographs, invoices, pro forma invoices or quotes for replacing the affected property or receiving the required assistance.
– Submit the claim or letter (original document and a photocopy) from the entity that assisted the emergency.
– Submit a copy of rent invoices or evidence of ownership of the house / apartment.
In extreme conditions of massive contingencies, the Board of Directors may determine the procedures to allocate the available resources among all the persons affected.
CREDIT FREQUENCY AND SUPPORTING EXPENSES
The member may apply for a maximum of one credit every twelve calendar months.
The member is required to submit evidence of the expenses paid for with the credit he/she was granted no later than 30 days after the money application and transfer.
The member authorizes ASOAMAZON to prevent him/her from becoming a beneficiary of credits from the Fund and to deduct from his/her payroll the disbursements made by AsoAmazon, in the cases where the member fails to submit the proof of expenses within the above time frame, the credit is used for expenses other than the established ones, and the application is found to be illegitimate.
In addition, the interest applicable to this loan would increase from 12% to 17% per annum.
APPROVAL OF THE REGULATIONS.
The Member Support Credit Regulations/Bylaws were approved by the Board of Directors in the ordinary meeting held on 22 October 2018, and repeals former provisions and regulations.
Article No. 14 The member may request reports on how the Allowance is being managed and information on the plan operation at any moment.
Article No. 15 Any modification to an article in these Regulations can only be made by the Board of Directors and agreed upon by a simple majority vote. In the case of a tie, the President’s vote will count as two.
Article No. 16 These regulations are effective as of 22 October 2014.
– Modified by the Board of Directors in meeting held on 15 January 2017.
These regulations were modified by the Board of Directors in ordinary meeting held on 22 November 2019.