LAW OF THE AZERBAIJAN REPUBLIC

of March 29, 2019 No. 1536-VQD

About modification of the Law of the Azerbaijan Republic "About insurance activity"

Being guided by Item 27 of part I of article 94 of the Constitution of the Azerbaijan Republic, Millie decides Majlis of the Azerbaijan Republic:

In the Law of the Azerbaijan Republic "About insurance activity" (Collection of the legislation of the Azerbaijan Republic, 2008, No. 3, Article 144, No. 7, Article 602; 2009, No. 7, Article 517; 2011, No. 1, Article 11; 2013, No. 12, Article 1470; 2014, No. 7, Articles 771, 779; 2015, No. 11, Article 1263; 2016, No. 3, Article 410, No. 6, Article 976; 2017, No. 7, Articles 1286, 1294, No. 12, book I, Article 2221; 2018, No. 7, book I, Article 1392; The Law of the Azerbaijan Republic of December 18, 2018 No. 1400-VQD, 28 of December No. 1416-VQD and 1444-VQD) to bring the following изменения:.

1. in Article 119.1.4-1 after the word of "property" to add with words "mortgage or" and after the word of "creditors" to add with the words "not satisfied according to article 119.3 of this Law".

2. under Article 119.3:

2.1. after the word of "property" to add with words "mortgages or";

2.2. add with the second offer of the following content:

"If providing does not meet completely the requirement of creditors, the outstanding amount is paid with priority, the stipulated in Clause 119.1.4-1 this Law.".

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