LAW OF THE REPUBLIC OF ARMENIA

of March 23, 2017 No. ZR-68

About modification and amendments in the Civil code of the Republic of Armenia

Accepted by National Assembly of the Republic of Armenia on March 1, 2017

Article 1. To add the second paragraph of part 2 of Article 954 of the Civil code of the Republic of Armenia of May 5, 1998 (further - the Code) with the new offer of the following content: "Terms of property trust management are established by the trust management agreement if for separate types of property the minimum or maximum durations of the agreement are not established by the law.".

Article 2. Part 2 Articles 955, part 2 articles 958, of article 960, of 961, part 4 Articles 962, articles 963-965 and 967 of the Code to recognize invalid.

Article 3. To state part 1 of article 955 of the Code in the following edition:

"1. Any property, including property right can be object of trust management.".

Article 4. Regarding 1 article 966 of the Code:

Item 5 to state 1) in the following edition:

"5) refusal of the founder of management of the agreement on condition of payment to the trustee of the amount caused with respect thereto by the agreement;";

To "the founder citizen of management" shall be replaced with words 2) in Item 6 of the word to "the founder of management";

To add 3) with Item 7 of the following content:

"7) expirations of the trust management agreement.".

Article 5. This Law becomes effective for the tenth day after its official publication.

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