Sofol definition
Sofol means limited purpose financial entities, or sociedades financieras de objeto limitado.
Sofol means Sociedad Financiera de Objeto Limitado, a limited objective financial corporation regulated under, inter alia, the Borrower’s financial institutions law (Ley de Instituciones de Crédito), the Borrower’s corporations law (Ley de Sociedades Mercantiles), and regulations issued by SHCP;
Sofol means a sociedad financiera de objeto limitado, limited purpose non-bank financial institution.
Examples of Sofol in a sentence
On February 27, 2006, two of Metrofinanciera’s shareholders, ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Metrofinanciera’s Chief Executive Officer, and ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, the Chairman of Metrofinanciera’s Board of Directors, acquired 100% of a Sofol, Hipotecaria México.
A Sofol is a limited purpose company authorized to operate as a non-bank finance company to finance certain specific sectors of the Mexican economy.
Metrofinanciera’s Financial Statements for the year ended December 31, 2006 and for the three quarters ended September 30, 2007 were prepared in accordance with Sofol GAAP (as defined herein).