They are a group of individuals who are responsible for the direction of an institution or company. Its functions tend to be determined by the statutes of the institution or company. Depending on the company his appointment can be ascending or descending, i.e., they may be appointed by the owners of the company " toe-" or they can be democratically appointed by an Assembly of the workers of the company. This last occurs in the associated work cooperatives. The charges are renewed democratically according to statutes, normally every four years. The Board of directors or Governing Board, in accordance with statutes, usually it compose the President, the Vice-President, the Secretary, the Treasurer and three members. All elected in general Assembly.
