The SEPS regulates the voluntary and summary dissolution and liquidation of cooperatives

The Superintendency of Popular and Solidarity Economy (SEPS) issued the Control Standard regulating the voluntary and summary dissolution and liquidation of organizations subject to its control, published in Official Registry No. 383 on Monday, October 5, 2026. Resolution SEPS-IGT-IGS-IGJ-INSOEPS-INFMR-INGINT-2026-0147, signed on September 16, 2026, in Quito, replaces the two standards that had governed these procedures since 2020 and applies to cooperatives and associations of the real sector of the popular and solidarity economy.

The framework of the new standard

The instrument was signed by Juan Carlos Aguilera Cajas, Acting General Technical Intendant of the SEPS, in exercise of the authority to issue control standards provided for in Article 151 of the Organic Law of Popular and Solidarity Economy. The entity is led by Superintendent Christina Ivonne Murillo Navarrete, who took office on September 3, 2024.

The standard develops Article 14 of said law, which allows for the dissolution and liquidation of an organization by the will of its members expressed by a two-thirds vote, and Article 57, letter d), which applies this cause to cooperatives. Until now, these processes were governed by two separate resolutions from September 18, 2020: SEPS-IGT-IGS-INSOEPS-INFMR-INGINT-2020-0656, regarding voluntary liquidation, and SEPS-IGT-IGS-INSOEPS-INFMR-INGINT-2020-0657, regarding summary liquidation. Both are now repealed.

The text is organized into four chapters—general principles, voluntary liquidation, voluntary summary liquidation, and ex officio summary liquidation—and entered into force from the date of its issuance, without prejudice to its publication in the Official Registry.

Requirements for voluntary liquidation

The SEPS may order voluntary dissolution and liquidation upon request, following a resolution by the assembly or general meeting, when three conditions are met:

• A favorable decision by at least two-thirds of the members or attendees with voting rights, issued via secret ballot.
• Sufficient resources to meet all outstanding obligations, including the liquidator’s fees.
• Absence of outstanding obligations with the SEPS and no pending administrative sanctioning proceedings.

The file must be submitted with documentation no older than 30 days and includes the request in the official format, financial statements with a cutoff no more than 30 days prior, the assembly minutes with the details of the qualified liquidator, the list of attendees, certificates from the Internal Revenue Service and the Ecuadorian Social Security Institute, the real estate certificate from the Property Registry and, in the case of housing cooperatives, a report on the adjudication and legalization of properties.

The liquidator appointed by the assembly must be previously qualified by the SEPS, provide a bond, and submit quarterly management reports.

Summary Liquidation: Extinction in a Single Act

The summary route allows for the dissolution, liquidation, and extinction of the legal personality in a single act, without a liquidation process, when the organization has not carried out economic activity or has no assets or liabilities, or when its assets are less than one Unified Basic Salary. It also proceeds ex officio if the organization did not overcome the cause of inactivity within three months from the resolution that declared it.

In that case, the SEPS will publish a notice in the press so that potential creditors may appear within fifteen days and justify their status. For transport cooperatives, a certificate from the National Transit Agency is also required to certify that there are no vehicles registered in the name of the organization.

Remnants, Liability, and Repeal

The general provisions specify that in summary, voluntary, or ex officio liquidations, no liquidator shall be appointed. In voluntary liquidations, partners shall be liable up to the amount of the contributions made to the capital.

If there is a balance or remnant of the assets lower than one unified basic salary, it shall be allocated to the objectives provided for in the social statutes, and its fulfillment shall be the responsibility of the former legal representatives. Organizations that did not adapt their statutes according to the first transitory provision of the law may likewise opt for voluntary liquidation.

The regulation closes with the express repeal of resolutions SEPS-IGT-IGS-INSOEPS-INFMR-INGINT-2020-0656 and SEPS-IGT-IGS-INSOEPS-INFMR-INGINT-2020-0657, both dated September 18, 2020.

Impact for the Sector

The unification of both procedures into a single regulatory body provides cooperatives and associations of the real sector with a single route and defined deadlines for extinction, with validity requirements limited to 30 days and cross-certificates from the SRI, IESS, and property registries. For inactive organizations or those with minimal assets, summary liquidation reduces the process to a single act, while the press publication and the fifteen-day period for creditors seek to protect third parties before the extinction of the legal personality.

Source: Official Registry, No. 383, Monday, October 5, 2026, Transparency and Social Control Function, p. 36 (official reference: SEPS-IGT-IGS-IGJ-INSOEPS-INFMR-INGINT-2026-0147).