of October 21, 2004 No. ZR-111
About collection
Accepted by National Assembly of the Republic of Armenia on September 28, 2004
This Law regulates concepts of collection activities and the collection organization, procedure of collection activities in the territory of the Republic of Armenia, and also establishes violations of the law by the collection organizations in the course of these activities and the responsibility measures applied on them.
This Law extends to the relations with participation of the banks and credit institutions operating in the territory of the Republic of Armenia.
The collection activities performed in the territory of the Republic of Armenia are regulated by this Law, international treaties of the Republic of Armenia, other laws of the Republic of Armenia, and in the cases provided by the law - also other legal acts.
If international treaties of the Republic of Armenia establish other regulations than provided by this Law, then regulations of international treaties are applied.
The basic concepts used in this Law are:
the collection organization - the commercial legal entity having the license for activities for rendering collection services, according to the procedure, established by this Law and the Law of the Republic of Armenia "About licensing";
cash - the ingots of precious metals which are in circulation, and also withdrawn and withdrawn from circulation, but subject to exchange in the Republic of Armenia, and also cash foreign currency, standardized;
other values - securities, payment and accounting documents, and also property which the customer wishes to transport;
bank - the banks operating in the territory of the Republic of Armenia, head bank department, territorial subdivisions of bank;
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