Chambers of Commerce Law

A chamber board of directors shall have the power to: 1. approve the chamber's general policies, plans, programs, and projects necessary for carrying out its duties; 2. review the chamber’s draft internal regulations, including administrative and financial regulations, and regulations relating to chamber employees, governance, as well as training and scholarship programs, for approval by the general assembly; 3. issue decisions and instructions necessary for the chamber to carry out its duties; 4. sell, purchase, lease and rent, litigate, borrow, accept gifts, approve transfer of ownership, and secure liens on behalf of the chamber, as well as any other action within the chamber’s duties; 5. monitor the chamber’s performance and review its quarterly reports; 6. approve the chamber's annual report, final accounts, draft budget, and submit the same to the general assembly for approval; 7. provide the Ministry with a copy of the annual report, draft budget, and final accounts; 8. appoint the chamber's secretary general and terminate his service; 9. form committees relating to various sectors; and 10. form internal committees with appropriate powers.