LAW OF THE REPUBLIC OF MOLDOVA

of November 29, 2018 No. 273

About modification of some legal acts

This law shifts Chapter II and article 144 of part I of the Directive 2009/138/EU of the European Parliament and Council of November 25, 2009 about the organization and implementation of the activities in the field of insurance and reinsurance (Norma of solvency of II) published in the Official magazine of the European Union by L 335 of December 17, 2009 with the last changes made by the Directive (EU) of 2016/2341 European Parliament and Council of December 14, 2016.

The Parliament adopts this organic law.

Art. I. - In the Insurance law No. 407/2006 (Official monitor of the Republic of Moldova, 2007, Art. No. 47-49, 213), with subsequent changes, to make the following changes:

1. In Article 1:

to add the concept "insurance and/or reinsurance broker" after the words "with settlement of damage" with the words "based on the commission charges paid by the insurer";

after the concept "joint insurance" to add Article with the following concept:

"licensing conditions - set of the requirements and conditions established by provisions of this law, Law on obligatory civil liability insurance for the damage caused by vehicles, No. 441/2006, and also other legal acts which observance by the applicant and the owner of the license is obligatory when implementing activities for insurance (reinsurance) or intermediary activities in insurance and/or reinsurance;";

add the concept "official" with the offer: "The official shall conform to the requirements established by regulations of supervision body hold position and fulfill duties within only one professional participant of the insurance market;".

2. Add Article 2 with part (3) the following content:

"(3) In the processes of licensing, the notification and approval provided by this law, provisions of the Law on regulation of business activity by permission No. 160/2011 are not applied.".

3. Article 61 after the words "bodies of the public power and organization" to add with the words "and also faces of private law".

4. Add Article 7 with parts (21), (8) and (9) the following content:

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info