of August 5, 2022 No. 86
About introduction of amendments to the Law of the Kyrgyz Republic "About guarantee funds in the Kyrgyz Republic"
Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 30, 2022
Bring in the Law of the Kyrgyz Republic "About guarantee funds in the Kyrgyz Republic" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2019, No. 4, the Art. 187) the following changes:
Article 1 to state 1) in the following edition:
"Article 1. The basic concepts and terms used in this Law
1. In this Law the following concepts and terms are used:
1) guarantee fund - the legal entity created in the form of joint-stock company, who underwent the procedure of accounting registration in National Bank of the Kyrgyz Republic (further - National Bank) and performing warranty activities;
2) the client - the subject of entrepreneurship and the participant of the state housing programmes which part of obligations is provided with guarantee under the contract of financing with financial credit institution;
3) the subject of entrepreneurship - the physical person who is engaged in business activity without formation of legal entity and the legal entity determined according to the tax legislation of the Kyrgyz Republic;
4) the participant of the state housing programmes - the citizen of the Kyrgyz Republic who submitted the application and last selection for receipt of housing financing within implementation of the state housing programmes approved by the Cabinet of Ministers of the Kyrgyz Republic;
5) obligations of the client - the obligations which arose within the financing received from financial credit institution and conforming to requirements of this Law;
6) guarantee - the obligation of guarantee fund to financial credit institution to bear responsibility for execution of part of obligations on principal debt of the client under agreements of financing within the amount of the provided guarantee;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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