LAW OF TURKMENISTAN

of August 22, 2020 No. 270-VI

About entering of amendments and changes into the Law of Turkmenistan "About insurance"

I. Bring in the Law of Turkmenistan "About insurance", adopted on December 22, 2012 (Sheets of Majlis of Turkmenistan, 2012, No. 4, Art. 107; 2015, No. 3, Art. 109; 2018, No. 2, Art. 43; 2019, No. 2, Art. 36), following amendments and changes:

Article 1 to add 1) with Item of the following content:

"28) subjects of insurance activity - the insurer, the overcautious person, insurance broker.";

2) in part two of Article 3 of the word "insurers, overcautious persons and insurance brokers (further - subjects of insurance activity)" shall be replaced with words "subjects of insurance activity";

3) in Article 11:

in parts three and the fourth "this" and "this" to replace words respectively with words "corresponding" and "corresponding";

in part three of the text of the Law in state language of the word "duzgunlerine" and "duzgunlerinde" to replace respectively with the words "kadalaryna" and "kadalarynda";

4) in article 15 part one after the word "its" to add with the word "actual";

The word "atiyaclandyryjy" to replace 5) in part four of Article 17 of the text of the Law in state language with the word "atiyaclandyryan";

Article 20 to add 6) with part of the following content:

"7. The conclusion of the insurance contract can be performed in electronic form according to the procedure, determined by the legislation of Turkmenistan.";

Part the second Article 21 after Item 7 to add 7) with Item of the following content:

"7-1) cost of insurable property;";

8) in Item of 1 part one and part two of Article 23, parts five and the sixth Article 27, Item in state language of the word "duzgunleri", "duzgunlerinin" and "duzgunlerini" to replace 6 parts three of Article 36 of the text of the Law respectively with the words "kadalary", "kadalarynyn" and "kadalaryny";

9) in Article 25:

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