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::: By-Laws :::

Chapter V - Financial and Accounting Factors

Article 12º - The accounting period of the INSTITUTO is annual and will terminate on December 31 of each year.

Article 13 - The INSTITUTO will present a general accounting statement and will present its results at the end of its fiscal period.

First Paragraph - The INSTITUTO will adopt a standardized spending plan and statement, with complete description of its income and expenses in accounting statements that assure its accuracy.

Second paragraph - The INSTITUTO will maintain in good order, for a period of 5 years, beginning with the date of issue, the documents that prove the origin of its income and the realization of its expenses, as well as the execution of any other acts or operations that come to change its asset position.

Third Paragraph - The accounting for the INSTITUTO must be verified by an outside audit.