of November 12, 2015 No. ZR-117
About modification of the Law of the Republic of Armenia "About guaranteeing compensation on bank deposits of physical persons"
Accepted by National Assembly of the Republic of Armenia on October 26, 2015
Article 1. Part 1 of article 3 of the Law of the Republic of Armenia "About guaranteeing compensation on bank deposits of physical persons" of December 21, 2004 to state ZR-142-N in the following edition:
"1. The sizes of the contribution guaranteed in the procedure established by this Law, the following:
a) if the investor has in insolvent bank bank deposit only in dramas, then the size of the guaranteed contribution constitutes ten million Armenian drams;
b) if the investor has in insolvent bank bank deposit only in foreign currency, then the size of the guaranteed contribution constitutes five million Armenian drams;
c) if the investor has in insolvent bank bank deposits in dramas and foreign currency and the amount of bank deposit in dramas more than five million Armenian drams, then only the contribution in dramas – at the rate to ten million Armenian drams is guaranteed;
d) if the investor has in insolvent bank bank deposits in dramas and foreign currency and the amount of its bank deposit in dramas less than five million Armenian drams, then the bank deposit in dramas is guaranteed completely and bank deposit in foreign currency - in the amount of difference of five million dram and the bank deposit compensated in dramas.".
Article 2. This Law becomes effective for the tenth day after day of its official publication.
President of the Republic of Armenia
S. Sargsyan
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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