of May 20, 2013 No. ZR-23
About entering of amendment into the Law of the Republic of Armenia "About insurance and insurance activity"
Accepted by National Assembly of the Republic of Armenia on April 30, 2013
Article 1. Article 11 of the Law of the Republic of Armenia "About insurance and insurance activity" of April 9, 2007, ZR-177-N to add with part 3 following of content:
"3. The Republic of Armenia can establish the insurance company which is engaged in insurance of export and (or) to be member of this society. This society is competent to perform export insurance: on class of insurance of the credit, on class of provision of a guarantee and on class of financial losses (including the subclasses entering these classes) on the basis of the corresponding license provided by the Law of the Republic of Armenia "About insurance and insurance activity". The size of the general capital of this society at the time of creation shall be at least the size of the general capital established for the newly created insurance companies in the territory of the Republic of Armenia. In case of decrease in the course of activities of this society of the size of the general capital of society of the size of the general capital which was less established for the insurance companies in the territory of the Republic of Armenia, replenishment of this capital is performed according to the procedure, established by the legislation of the Republic of Armenia.".
Article 2. This Law becomes effective next day after official publication.
President of the Republic of Armenia
S. Sargsyan
(c) Soyuzpravoinform LLC
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