LAW OF THE KYRGYZ REPUBLIC

of July 9, 2014 No. 117

About entering of amendments and changes into the Law of the Kyrgyz Republic "About the organization of insurance in the Kyrgyz Republic"

Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 12, 2014

Article 1. Bring in the Law of the Kyrgyz Republic "About the organization of insurance in the Kyrgyz Republic" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 1998, No. 12, the Art. 505) the following amendments and changes:

1. Add Article 3 with paragraphs twenty second and twenty third the following content:

"rules of insurance - the document of insurance company determining conditions of implementation of insurance on certain type of insurance;

the list of the insurance services constituting licensed activity - the insurance product developed by insurance company and provided to the insurer by means of the conclusion of the insurance contract.".

2. In Item 3 of Article 5 of the word", except for state body of management on insurance supervision of the Kyrgyz Republic" to exclude.

3. In item 4 of Article 6 of the word "it is developed by state body of management on insurance supervision of the Kyrgyz Republic and" to exclude.

4. In Article 7:

in Item 1 of the word "state body of management on insurance supervision" to replace with the word "Government";

state Item 5 in the following edition:

"5. The government of the Kyrgyz Republic publishes regulatory legal acts concerning forming and increase in the authorized capital of insurance companies and maintenance of the minimum capital, availability of quick assets depending on size insured by them is risky according to current agreements of insurance.".

5. In Article 8:

shall be replaced with words the words "state body of management on insurance supervision of the Kyrgyz Republic" "authorized state body in the field of regulation and supervision of insurance activity";

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