LAW OF TURKMENISTAN

of December 22, 2012 No. 358-IV

About modification and amendments in the Civil code of Turkmenistan

I. Bring in the Civil code of Turkmenistan approved by the Law of Turkmenistan of July 17, 1998 (Sheets of Majlis of Turkmenistan, 1998, No. 2, Art. 39; 2003, No. 4, Art. 36; 2007, No. 1, Art. 40; 2010, No. 3, Art. 63; 2012, No. 1, Art. 7; No. 2, Art. 50), following changes and amendments:

1. In the text in state language of Turkmenistan to replace the words "strahowaniye", "strahowaniye edilmegi", "strahowaniye etmage", "strahowaniye ediji", "strahowaniye edilen", "strahowaniye etdirija", "strahowaniyesi", "strahowaniye etdirmage", "strahowaniyesinden", "strahowaniye etmek", "strahowaniyesinin", "strahowaniyani", "strahowaniye edilmage", "strahowaniyanin", "strahowatel", "strahowsik", "strahowatele", "strahowsikden", "strahowsigin", "strahowaniye edija", "strahowaniyedaki", "strahowaniyelesdirmegin", "strahowaniye edilse", "strahowsiklerin", "strahowaniye eden", "strahowsige", "strahowsikler", "strahowaniyede", "strahowaniye edilenin", "strahowatelin", "strahowaniyelesdirmek", "strahowaniyesinde", "strahowaniye etdiriji", "strahowatelden", "strahowateli", "strahowsigi" and "strahowatelde" respectively with the words "atiyaclandyrys", "atiyaclandyrylmagy", "atiyaclandyrmaga", "atiyaclandyryan", "atiyaclandyrylan", "atiyaclandyryana", "atiyaclandyrysy", "atiyaclandyrylmaga", "atiyaclandyrysyndan", "atiyaclandyrmak", "atiyaclandyrysynyn", "atiyaclandyrysyny", "atiyaclandyrylmaga", "atiyaclandyrysyn", "atiyaclandyryan", "atiyaclandyryjy", "atiyaclandyryana", "ati-yaclandyryjydan", "atiyaclandyryjynyn", "atiyaclandyryana", "atiyaclandyrysdaky", "atiyaclandyrmagyn", "atiyaclandyrylsa", "atiyaclandyryjylaryn", "atiyaclandyran", "atiyaclandyryja", "atiyaclandyryjylar", "atiyaclandyrysda", "atiyaclandyrylanyn", "atiyaclandyryanyn", "atiyaclandyrmak", "atiyaclandyrysynda", "atiyaclandyrylyan", "atiyaclandyryandan", "atiyaclandyryany", "atiyaclandyryjyny" and "atiyaclandyryanda".

2. Add article 838 with part three of the following content:

"3. The insurance contract is considered the prisoner from the moment of payment of insurance premium (award) if other is not stipulated by the legislation Turkmenistan and rules of insurance of the corresponding type of insurance.".

3. In the name and contents of Article 840 of the word "compulsory insurance" shall be replaced with words "compulsory national insurance".

4. In Article 841:

in the name and part one in the text of the word "insurance certificate (policy)" and "insurance certificate (policy)" to replace respectively with the words "insurance agreement (insurance certificate policy)" and "insurance agreement (insurance certificate policy)";

add part the second with the Items "to" and "l" of the following content:

"j) franchize;

k) signatures of the parties.".

5. State Article 842 in the following edition:

"Article 842. Agreement of reinsurance

The risks assumed by the insurer on the basis of the insurance contract can be fully or partially reassured on other insurer (insurers). At the same time the insurer according to the insurance contract (basic agreement) who signed the agreement of reinsurance is considered in this last agreement insurer.

The relations between the insurer and the overcautious person are regulated by the agreement of reinsurance or according to the procedure, established by the legislation of Turkmenistan. At the same time obligations of the insurer to the insurer completely remain.".

6. To state part one of Article 844 in the following edition:

"1. Powers of insurance agent are determined by implementation of intermediary activities by the relevant documents of the insurer.".

7. To state part one of Article 854 in the following edition:

"The insurer after payment of insurance premium receives the insurance agreement.".

8. In Article 863 the word "agreement" shall be replaced with words "the insurance contract or the legislation of Turkmenistan".

9. In Article 870 of the word "special agreement" shall be replaced with words "terms of the contract of insurance or the legislation of Turkmenistan.".

10. In the name and contents of Article 882 of the word "compulsory insurance" shall be replaced with words "compulsory national insurance".

II. This Law becomes effective from the date of its official publication.

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