of July 30, 1998 No. 123-XIV
About capitalization of time payments
The Parliament adopts this organic law.
For the purpose of this law the following basic concepts are used:
capitalization of time payments - funds accumulation and their department from other property of the debtor for the purpose of implementation afterwards payments for benefit of the beneficiary;
the debtor - the legal entity or the company with the rights of physical person which shall make time payments for benefit of the beneficiary;
the beneficiary - the citizen having according to the law, the right to compensation of the damage caused to his health or in connection with the death of the supporter;
fund - National cash desk of social insurance;
the third party - physical person or legal entity (except National cash desk of social insurance) with which the beneficiary signed the devolution agreement of debt.
Subject of legal regulation of this law are the social relations connected with time payments which the debtor shall perform by means of capitalization of the last for benefit of the beneficiary in connection with liquidation of the debtor if according to its obligations there are no legal successors.
(1) Capitalization of time payments is performed in connection with liquidation of the debtor in cases when he has no legal successors according to obligations.
(2) Capitalization of time payments is performed according to the procedure, provided for transfer of debt according to the obligation, and it is drawn up by the agreement signed by the debtor, on the one hand, and fund or the third party who acts for the benefit of the beneficiary, on the other hand.
(3) the Devolution agreement of debt according to the obligation of implementation of time payments is signed only with the consent of the beneficiary.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
Search in text CTRL-F
If you are guest on our site, you will work in Demo mode. In Demo mode you can see only first page of each document.
With full access you can
Database include more 65000 documents. You can find needed documents using search system.
For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system
If you cannot find the required document, or you do not know where to begin, go to Help section.
In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.
You also may open the section Frequently asked questions.
This section provides answers to questions set by users.