Associations adopting a company form (LGS art. 3)
Section 3 of the General Companies Law subjects associations to its rules whenever, irrespective of their purpose, they adopt one of the company forms provided by law.
What article 3
Section 3 subjects associations organized under a statutory company form to Law 19,550 even when they pursue a purpose other than profit.
Associations, irrespective of their purpose, that adopt the form of a company under any of the forms provided for shall be subject to the provisions of this Law.
Source: Law 19,550, art. 3 - InfoLEG (updated official text)
Commentary
An association may effectively 'dress' itself as a company by adopting a statutory form (for example, a corporation); if it does so, it is governed by company law, including its corporate bodies and liability rules, regardless of its underlying purpose. This is the counterpart of article 30, which allows certain non-profit entities to hold interests in corporations.
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