OBS_VALUE: Once the complete documentation is received, the Superintendence will send it to the Central Bank, when applicable. The Central Bank must render its opinion in 30 days from the receipt of the documentation. Within a 90 day term from the receipt of such opinion, the Superintendence with render a resolution that authorizes or denies the organization of a company in the insurance or financial system. In case of denial, whenever possible and if requested by the applicant, must inform of the reasons for such denial.