of July 7, 2016 No. ZR-113
About introduction of amendments and changes in the Law of the Republic of Armenia "About forced execution of court resolutions"
Accepted by National Assembly of the Republic of Armenia on June 17, 2016
Article 1. ZR-221 "About forced execution of court resolutions" of May 5, 1998 (further - the Law) after the words "in case of the requirement" to add Item 2 of part 1 of article 36 of the Law of the Republic of Armenia with the words "or in case of distribution of collection regarding pledge by the pawnbroker in case of overdue obligations".
Article 2. To add article 44.1 of the Law with Item 3.1 of the following content:
"3.1. In case of submission of the relevant document on realization by the pawnbroker of subject of pledge according to the procedure, stipulated in Clause 243.1 Civil codes of the Republic of Armenia.".
Article 3. To state article 50 of the Law in the following edition:
"Article 50. Distribution of collection on pledged property
1. For satisfaction of requirements, unsecured pledge of property of the debtor, collection only in the absence of other property of the debtor can extend to pledged property of the debtor.
In 1 this Article provided by part cases, the forced contractor notifies the pawnbroker on the court order, the writ of execution or the indisputable administrative act, decisions on seizure of pledged property and the size of outstanding obligations of the pledger.
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