of May 22, 2007 No. ZR-181
About modification and amendments in the Law of the Republic of Armenia "About bankruptcy of banks and credit institutions"
Accepted by National Assembly of the Republic of Armenia on April 9, 2007
Article 1. In heading of the Law of the Republic of Armenia "About bankruptcy of banks and credit institutions" (ZR-262, of November 6, 2001) shall be replaced with words the words "and credit institutions" ", credit institutions and insurance companies".
Article 2. In Item 1 of article 1 of the Law of the word "and credit institutions (further-banks)" shall be replaced with words ", credit institutions and insurance companies (further – banks if from specific case of the use of the word "banks" do not be understood that it is only about banks)".
Article 3. To add the subitem "v" of Item 2 of article 31 of the Law with words ", and in case of liquidation of insurance companies, the requirements following from the life insurance contract if the insurance company performs life insurance, and the requirements following from the insurance contract of not life if the insurance company performs insurance of not life.
Article 4. This Law becomes effective in four months after official publication.
President of the Republic of Armenia
R. Kocharyan
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