Law 197

Original Language Title: Ley 197

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law no 197



For How Much: The Honorable National Congress has sanctioned the following Law:



ArtA-ass 1A °â€ "The Central Bank of Bolivia is empowered to grant the Social Security Fund of Railway and Ancillary Branches a loan or advance current account up to the sum of Bs. 22,000,000,â€" (Twenty-two (i) million bolivianos), with the annual interest rate of 4% and ten years ' time, with exclusive destination for housing construction for railway workers and attached branches.

ArtA-ass 2A °â€ " At the right end, the cited Box may mortgage the real estate of its property.

ArtA-ass 3A °â€ " For the payment of the credit, the creditor entity shall enjoy the mortgaged assets of the privileges that are agreed upon by the Articles 185 and following of the General Law of Banks; and, in the case of the settlement of the Caja, such property, the guarantee-to mortgage, will be excluded from the privileges and preferences agreed by law and other regulations in favor of affiliated workers.

ArtA-culo 4A °â€ " For the purposes of this Law and other banking operations, it is established that the Social Security Fund of Ferrovial and Ramas Annexed, it is an institution of private law that performs functions of public utility.

Communicate to the Executive Branch for constitutional purposes.

Meeting Room of the H. National Congress.

Peace, December 20, 1949.

(Fdo.) Waldo Belmonte Pool.†"(Fdo.) Luis Ponce Lozada.â€" (Fdo.) C. LAónfish Arce, Senator Secretario.†"(Fdo.) E. Monasterio, Senator Secretario.â€" (Fdo.) Guillermo Álvarez S., Deputy Secretary. †" (Fdo.) Pedro Montaà ± o, Diputado Secretary.

BY TANTO: I enact it so that it has and will comply as Law of the Republic.

Government Palace, in the city of La Paz, at the five days of January of a thousand nine hundred and fifty years.

(Fdo.) MAMERTO URRIOLAGOITIA H.â€" (Fdo.) R. Parada Sua ¡ rez.