RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of October 18, 1997 No. 3361

About the state obligatory civil liability insurance of owners (carriers) of vehicles before the third parties

For the purpose of providing the damages caused to interests of the third parties in case of operation of vehicles in the territory of Turkmenistan I decide:

1. Enter since January 1, 1998 the state obligatory civil liability insurance of owners (carriers) of vehicles before the third parties, except the organizations financed by means of the Government budget of Turkmenistan and the companies of common carrier, rates for which services are regulated by the state.

Determine that object of this type of insurance is the civil responsibility of owners (carriers) of vehicles for the damage caused to the third parties as a result of the road accidents.

2. Prohibit operation of vehicles in the territory of Turkmenistan without the conclusion of the agreement of the state obligatory civil liability insurance of owners (carriers) of vehicles before the third parties.

3. Assign to the State insurance company of Turkmenistan implementation of the state obligatory civil liability insurance of owners (carriers) of vehicles before the third parties, including owners (carriers) of vehicles of other states in case of entrance on the territory of Turkmenistan and departure out of its limits.

4. Approve the enclosed Regulations on the state obligatory civil liability insurance of owners (carriers) of vehicles before the third parties.

5. To the Ministry of Defence of Turkmenistan to establish control of payment of insurance payments by owners (carriers) of vehicles in case of registration, re-registration, technical inspection and in use these means.

6. To provide to the state company "Turkmentransinspektion" of the Ministry of road transport of Turkmenistan control of payment of insurance payments and execution of insurance certificates policies in case of entrance of vehicles of legal entities and physical persons of other states, stateless persons on the territory of Turkmenistan and departure out of its limits.

7. To the state customs of Turkmenistan to check availability of insurance certificates policies on the state obligatory civil liability insurance of owners (carriers): vehicles before the third parties in case of entrance on the territory of Turkmenistan from abroad and not to allow their departure out of its limits without the specified policies.

8. Establish the following amount of assignments from insurance payments on the state obligatory civil liability insurance of owners (carriers) of vehicles before the third parties:

on formation of insurance reserve for damages - 75 percent;

on formation of insurance reserve for financing of actions for the prevention of the road accidents - 5 percent;

on covering of expenses on conducting case - 20 percent.

9. Permit the State insurance company of Turkmenistan to redistribute risks and insurance payments on the state obligatory civil liability insurance of owners (carriers) of vehicles before the third parties by reinsurance.

10. Oblige the State insurance company of Turkmenistan to place at least 25 percent of insurance reserve for the damages to the third parties caused to them as a result of the road accident in government securities.

11. The state insurance company of Turkmenistan, the Ministry of Economics and finance of Turkmenistan, to the Ministry of road transport of Turkmenistan, the Ministry of Internal Affairs of Turkmenistan, the Ministry of Health and the Medical Industry of Turkmenistan in coordination with the Ministry of Justice of Turkmenistan to develop and approve instructions in a month:

about procedure for education and expenditure of means of insurance reserves;

about procedure for settlement on the state obligatory civil liability insurance of owners (carriers) of vehicles before the third parties.

Approved by the Resolution of the President of Turkmenistan of October 18, 1997 No. 3361

Regulations on the state obligatory civil liability insurance of owners (carriers) of vehicles before the third parties

1. This Provision regulates the legal relationship arising in case of the state obligatory civil liability insurance of owners (carriers) of vehicles before the third parties (compulsory insurance hereinafter is referred to as further).

The third parties all legal entities and physical persons injured with the road accidents, their heirs (legal successors) who according to this Provision are not considered as the agreement party of compulsory insurance, and also recognized as court the third parties according to the legislation of Turkmenistan on the obligations arising owing to damnification are recognized.

2. Compulsory insurance aims at providing the damages caused during the road accident.

3. The owner (carrier) of the vehicle shall insure the civil responsibility on all vehicles operated in the territory of Turkmenistan.

Owners (carriers) of vehicles are understood as the legal entities and physical persons operating vehicles based on the property right belonging to them, the rights of economic maintaining, the right of operational management or on other bases (the lease agreement, availability of the power of attorney on control of the vehicle, transfer of the vehicle to temporary use of the organization according to the order of competent authority, etc.).

Vehicles are understood as cars (terrestrial not rail vehicles with the engine of machine type), trail cars and motorcycles which are subject to state registration and accounting of the state road supervision of the Ministry of Defence of Turkmenistan by Service and other bodies performing registration of vehicles.

Operation of the vehicle is not allowed, the owner (carrier) of which did not insure the civil responsibility before the third parties.

4. The civil responsibility of the following owners (carriers) of vehicles is subject to compulsory insurance (the insurer hereinafter is referred to as further):

legal entities of Turkmenistan (except the organizations financed by means of the Government budget of Turkmenistan and the companies of common carrier, rates for which services are regulated by the state);

legal entities of the foreign states and their representations located in the territory of Turkmenistan;

citizens of Turkmenistan, other states and stateless persons.

The civil responsibility of owners of vehicles with the expired depreciation term is not subject to compulsory insurance.

Persons which arrived to Turkmenistan on the vehicles registered beyond its limits are considered insured for term of stay in the country according to this Provision under condition if they:

own the international insurance documents recognized by Turkmenistan;

signed agreements of compulsory insurance according to bilateral agreements between the State insurance company of Turkmenistan (the insurer hereinafter is referred to as further) and insurance companies of countries of incorporation of vehicles.

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