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By Which Modifies The National Program For Agricultural Reactivation - Pran

Original Language Title: Por medio de la cual se modifica el Programa Nacional de Reactivación Agropecuaria - PRAN

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LAW 1504 OF 2011

(December 30)

Official Journal No. 48.298 of 30 December 2011

CONGRESS OF THE REPUBLIC

By means of which the National Program of Agricultural reactivation-PRAN is modified.

Vigency Notes Summary

COLOMBIA CONGRESS

DECRETA:

ARTICLE 1o. PROGRAM OF NATIONAL AGRICULTURAL REACTIVATION, PRAN.

2 of Law 1694 of 2013. The new text is as follows: > The debtors of the National Agricultural Reactivation Program, PRAN Agricultural, which deals with Decree number 967 of 2000, PRAN Coffee, PRAN Relief Debt Coffee and PRAN Arrovero, that they treat the Decrees numbers 1257 of 2001, 931 of 2002, 2795 of 2004 and 2841 of 2006 and the debtors of the Fund of Agricultural Solidarity-Fonsa, created by Law 302 of 1996, will be able to extinguish the obligations to their position, paying cash until 31 December 2014, a value equal to that which Finagro paid at the time of the acquisition of the respective obligation, by discounting the payments to the capital which the debtor has made. This shall not imply a reduction in the time limit for the payment of the obligations with maturity after that date.

Vigency Notes
Previous Legislation

PARAGRAFO 1o. Those debtors who received the terms of the Decrees 4222 of 2005, 3363 of 2007, 4678 of 2007 or 4430 of 2008, the latter as to the modifications introduced to the articles 6o of the Decree 1257 of 2001 and 10 of Decree 2795 of 2004, may be covered by this law, in which case the refinanced obligation will be reliqued, in order to determine the value to be paid.

PARAGRAFO 2o. To benefit from the conditions set out in this law, debtors must present Peace and Salvo for the purposes of life insurance, fees, expenses and court costs, the latter, when has initiated against them the recovery of the obligations.

PARAGRAFO 3o.

2 of Law 1694 of 2013. The new text is as follows: > Finagro, or the administrator or creditor of all the obligations of the PRAN and Fonsa programs, must refrain from bringing forward its judicial recovery until December 31, 2014. also suspended the proceedings which have been initiated, as well as the limitation of those obligations and their guarantees, in accordance with the civil law. This is without prejudice to the processing of the processes.

Vigency Notes
Previous Legislation

However, the suspension of the prescription for the term mentioned in the previous paragraph, Finagro or the administrator or creditor of the obligations of the PRAN Programs, will have the attribution of initiating and bringing forward judicial processes of recovery to from 1 October 2012 against debtors who have not met all the requirements to access the benefit and the due time limits of their obligations, in the case of Finagro, the beginning of the recovery. Such new processes shall not be subject to the suspension of the preceding subparagraph. In any event, the defendant debtor shall retain the benefit for the payment provided for in paragraph 1 of this Article and in paragraph 2o.

PARAGRAFO 4o. Finagro, or the administrator or creditor of the obligations of the PRAN programs, shall refrain from bringing forward the judicial recovery against a debtor, when the total amount of the respective capital indebtedness for the various obligations in the programmes of which the administrator or creator is equal to or less than $3,500,000 of the year of issue of this law. For his recovery only a preliminary ruling will be made.

PARAGRAFO 5o. Partial credits made during the validity of Laws 1328 of 2009, 1380 of 2010, and 1430 of 2010 to PRAN obligations in this article, shall be applied with the benefit indicated here, decreasing the capital of the obligation in the same proportion as the ratio of the credit against the value of the minimum payment set by the law.

Those debtors who made the minimum capital payment and insurance premium from the obligation owed, under the terms of Laws 1328 of 2009, Act 1380 of 2010 and Law 1430 of 2010 and that finding the judicial recovery, subsequently credited the payment of the attorney's fees, will be told the value of the insurance premiums that have been caused between the minimum payment and the presentation of peace and except for fees, value which will consequently be assumed by the respective PRAN programme as long as these values are not reintegrated by the insurer.

Editor Notes
Matches
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ARTICLE 2o. This law begins to govern from the date of its publication.

The President of the honorable Senate of the Republic,

JUAN MANUEL CORZO ROMAN.

The Secretary General of the honorable Senate of the Republic,

EMILIO RAMON OTERO DAJUD.

The President of the honorable House of Representatives,

SIMON GAVIRIA MUNOZ.

The Secretary-General of the honorable House of Representative,

JESUS ALFONSO RODRIGUEZ CAMARGO.

COLOMBIA-NATIONAL GOVERNMENT

Publish and comply.

Dada in Bogotá, D. C., at December 30, 2011.

JUAN MANUEL SANTOS CALDERÓN

The Minister of Agriculture and Rural Development,

JUAN CAMILO RESTREPO SALAZAR.

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