LAW OF THE REPUBLIC OF MOLDOVA

of April 7, 2022 No. 93

About modification of some regulations

The Parliament adopts this organic law.

Art. I. - In the Law on savings and loan associations No. 139/2007 (The official monitor of the Republic of Moldova, 2007, No. 112-116,ст. 506), with subsequent changes to make the following changes:

1. Part (Article 4 to add 2) with Item f) the following content:

"f) observance of requirements of responsible crediting.".

2. In Article 8:

part (to add 2) with Item g) the following content:

"g) estimates of creditworthness of the member debtor - the physical person intending to use or using services of savings and loan association for the needs which are not connected with business or professional activity.";

add Article with parts (3-1)-(3-3) of the following content:

"(3-1) To the conclusion of the agreement of the loan the savings and loan association shall carry out assessment of creditworthness of the member debtor - the physical person according to the regulations of financial precaution approved by supervision body.

(3-2) In case of assessment of creditworthness of the member debtor - physical person the savings and loan association estimates its capability to undertake certain agreement obligation of the loan which he will be able to execute together with already undertaken obligations according to loans.

(3-3) Purpose of assessment of creditworthness of the member debtor - physical person is:

a) prevention of any delays when implementing payments, non-return of loans or delays of implementation of the mortgage right;

b) non-admission in the course of financing of exceeding of the most admissible level of debt of members of association in case of observance of the requirements established by supervision body;

c) ensuring return of the loan from the income of debtor, but not by forced execution due to pledged property, or at the expense of change in value of pledged property, or at the expense of other assets of the debtor.".

3. Add Article 10 with Items h) and i) the following content:

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