Characteristic element is the financial autonomy with which the assets of the entity is distinct from that of its members and its organsAnd, in fact, creditors of members may not have recourse against the assets of associations and vice versa.
Other elements are a plurality of persons (except foundations), and a common purpose.
The legal personality it acquires with the recognition by the State, and, in general, at the time of registration in the register of legal persons. The recognition is preceded by the acts through which one or more people manifest the desire to give life to a legal entity. It speaks of the act of incorporation for associations, speaks of the store of foundation, if a person decides to separate some of the assets of its assets to allocate them to one defined purpose. The life and activity of a legal person is regulated by an act called"the statute as this cannot form and express its will, it you serve individuals which they call bodies. The legal person acts through its directors that deal with managing them, but also have the power to represent it before third parties. The decision-making body in the associations is the general assembly. And in fact, the act put in place they call a collegial act.
