LAW OF THE REPUBLIC OF MOLDOVA

of December 20, 2019 No. 190

About introduction of amendments to article 29 of the Insurance law No. 407/2006

The Parliament adopts this organic law.

Art. I. – In Article 29 of 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:

in part (610) "shall" replace the word with the word "can";

add Article with part (12) the following content:

"(12) in case of application of regulations on management of the suspended shares and/or introduction of special management of the insurer (overcautious person) before the expiration of sale of again issued shares according to part (66), including during the renewal term provided by part (67), in departure from part (610) the price offered for sale of shares of the insurer (overcautious person) is determined with observance of conditions of part (68). After determination of the price according to this part the supervision body can make the decision on prolongation of term of sale of again issued shares for periods of time not over three months no more than three times with possibility of change of their price according to part (610).".

Art. II. – This law becomes effective from the date of publication in the Official monitor of the Republic of Moldova.

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