LAW OF THE AZERBAIJAN REPUBLIC

of May 27, 2021 No. 329-VIQD

About modification of the Civil code of the Azerbaijan Republic and 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, I DECIDE:

Article 1

In the Civil code of the Azerbaijan Republic (Collection of the legislation of the Azerbaijan Republic, 2000, No. 4 (I book), Article 250, No. 5, Article 323; 2002, No. 12, Article 709; 2003, No. 8, Article 420; 2004, No. 3, Article 123, No. 5, Article 318, No. 6, Article 415, No. 10, Article 761, No. 11, Article 901; 2005, No. 2, Article 61, No. 6, Article 466, No. 8, Articles 684, 692, 693, No. 11, Article 996, No. 12, Article 1085; 2006, No. 2, Article 68, No. 3, Article 225, No. 5, Article 387, No. 6, Article 478, No. 8, Article 657, No. 12, Article 1005; 2007, No. 2, Article 80, No. 6, Article 560, No. 8, Article 745, No. 10, Article 937, No. 11, Article 1053, No. 12, Articles 1215, 1219; 2008, No. 3, Article 145, No. 6, Article 456, No. 7, Article 602, No. 12, Article 1049; 2009, No. 2, Article 47, No. 5, Article 295, No. 6, Article 404, No. 7, Article 517; 2010, No. 2, Article 75, No. 3, Article 171, No. 4, Articles 265, 266, 276; 2011, No. 2, Article 71, No. 7, Article 586, No. 8, Article 750, No. 12, Articles 1073, 1102; 2012, No. 1, Article 5, No. 5, Article 403, No. 6, Article 498; 2013, No. 1, Article 15, No. 6, Article 620, No. 11, Article 1280, No. 12, Articles 1469, 1478; 2014, No. 2, Article 96, No. 7, Article 768; 2015, No. 3, Article 254, No. 5, Article 512, No. 7, Article 814, No. 10, Article 1093; 2016, No. 1, article 26, No. 2 (I book), Articles 186, 204, No. 3, Article 401, No. 4, Articles 640, 646, No. 6, Article 1005, No. 7, Article 1248, No. 12, Articles 1998, 2018; 2017, No. 2, Articles 151, 153, No. 4, Article 524, No. 5, Articles 703, 735, No. 6, Article 1035, No. 11, article 1953, No. 12 (I book), Articles 2210, 2234, 2239; 2018, No. 2, Article 142, No. 4, Article 650, No. 5, Articles 845, 851, No. 11, article 2212, No. 12 (I book), Articles 2467, 2518, 2526, 2533; 2019, No. 1, Articles 23, 50, No. 5, Articles 806, 812, 814, No. 6, Articles 994, 996, No. 7, Article 1202, No. 8, Article 1369, No. 11, Article 1681, No. 12, Article 1908; 2020, No. 5, Article 515, No. 7, Articles 822, 832, 839, 843, No. 12 (I book), Article 1423, 1435; 2021, No. 1, Article 8; The Law of the Azerbaijan Republic of February 23, 2021 No. 277-VIQD) in Article 937.2-1.4 of the word "the worker having the license of insurance agent" shall be replaced with words "the workers who underwent the certification provided by the Law of the Azerbaijan Republic "About insurance activity".

Article 2

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 (I book), Article 2221; 2018, No. 7 (I book), Article 1392; 2019, No. 1, Articles 19, 33, 50, No. 5, Articles 793, 815, No. 6, Article 999, No. 8, Article 1362; 2020, No. 7, of Article 822, of 830) to make the following changes:

2.1. in Article 82.2-2.4 of the word "the worker having the license of insurance agent" shall be replaced with words "the workers who underwent certification according to rules, the stipulated in Article 83.2.2 presents of the Law";

2.2. Article 83.2.3 - to state in the following edition:

"83.2.3. lack of cancellation of the license for activities for insurance mediation, except for case, stipulated in Article 107.1.1 this Law;";

2.3. in Article 84.1.2.4 of the word "availability of the corresponding license at the worker" shall be replaced with words "passing by workers, the stipulated in Article 83.3 presents of the Law, certification according to rules, the stipulated in Article 83.2.2 presents of the Law";

2.4. under Article 93:

2.4.1. Article 93.2 after words "the legal entities who are engaged only in activities of insurance agent" to add with words "(except for subjects of big and medium business)";

2.4.2. state Article 93.2-3 in the following edition:

"93.2-3. Except for insurance brokers, being the legal entity, and the legal entities who are engaged only in activities of insurance agent, insurance intermediaries within 20 days after completion of quarter shall submit to the Central bank of the Azerbaijan Republic quarterly statements in connection with the related activity on insurance mediation in the form established by the Central bank of the Azerbaijan Republic.";

2.5. to add Article 94.3 after the words "Insurance broker" with the words "and insurance agent";

2.6. in Article 106.1.5 of the word "having the corresponding license" shall be replaced with words "undergone certification according to rules, the stipulated in Article 83.2.2 presents of the Law".

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