Reforming The Special Law For Facilitate The Cancellation Of The Debts Agrarian And Agricultural.

Original Language Title: Refórmase la LEY ESPECIAL PARA FACILITAR LA CANCELACIÓN DE LAS DEUDAS AGRARIA Y AGROPECUARIA.

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________________________

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DECREE NO 874

THE LEGISLATIVE ASSEMBLY OF THE REPUBLIC OF EL SALVADOR,

CONSIDERING:

I.-That by Legislative Decree No. 263 dated March 23, 1998, published in Official Journal No. 64, Volume No. 339 of April 2 of the same year, the Special Law was issued to Facilitate the Cancellation of Agricultural Deures and Agriculture.

II.-That the Law since its approval, has as its object, among others, to contribute to the reactivation of the agricultural sector through the adjustment of the credits to their present value and the establishment of the financial mechanisms that will allow the immediate cancellation of the debts incurred by the successful land owners.

III.-That dated June 20, 2014, by Legislative Decree No. 720, the effects of Decree No 263 were extended, for a period of six months that expires on the thirties and one of December of this year, in which at the time of the decree there was an understanding and commitment of this Authority of the State, that during the period of validity In addition, a review and analysis of the objectives achieved during the period of validity of the Law, which began in 1998, would be reviewed and analyzed.

IV.-That it is necessary for this Authority of the State to comply with the previous recital, so it becomes necessary to reform the first paragraph of Article 4 of the Special Law to Facilitate the Cancellation of the Agricultural Deures and Agricultural, which is the one that establishes the term of validity and the time that the Law grants to the beneficiaries of the same one to protect itself, for a period of one more year that will expire on the thirties and one of December of the year 2015.

FOR TANTO,

in use of its Constitutional powers and at the initiative of the Deputies and Diputados: Audelia Lopez de Kleutgens, Mario Marroquín, Serafin Orantes, Adelmo Rivas, Lorenzo Rivas Echeverria, Ronald Rivas Rubio, Oscar Ernesto Novoa, Samuel Lopez, Abel Cabezas, Melvin Bonilla, Norma Guevara de Ramírios, Alvaro Cornejo, José Santos Melara, Estela Hernández, Félix Agreda Chachagua, David Rodríguez; and with the support of the Deputies: Luis Roberto Angulo Samayoa, José Antonio Almendariz Rivas, Reynaldo Antonio Lopez Cardoza, Jose Rafael Machuca Zelaya, Jose Francisco Merino Lopez and Mario Antonio Ponce Lopez.

DECRETA the following:

REFORM OF THE SPECIAL LAW TO FACILITATE THE CANCELLATION OF AGRARIAN AND AGRICULTURAL DEBTS

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________________________

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Art. 1.-Reform the first paragraph of Art. 4, as follows:

" The Institutions of the Financial System shall subscribe to the creditor institutions referred to in this Law, an agreement, which allows the beneficiaries to grant the request, of the nominees in Art. 2 of the same, and that at the date of validity they have not cancelled the due, a loan to the 6% annual interest to a period of up to 12 years, within which will be understood a grace period of 2 years, in which there shall be no payment of capital and interest of any kind. These loans must be processed and formalized within the period ending on the thirtieth and December 2015, with the presentation of any demand for the commencement of the trial of an executive nature suspended during this period. commercial or civil, which means, however, that those who are initiated and are at any stage of the civil or commercial judicial process against such debtors. "

Art. 2. This Decree shall enter into force eight days after its publication in the Official Journal.

GIVEN IN THE BLUE HALL OF THE LEGISLATIVE PALACE: San Salvador, at the twenty-seventh day of November of the year two thousand fourteen.

OTHON SIGFRIDO REYES MORALES, PRESIDENT.

ENRIQUE ALBERTO LUIS VALDEZ SOTO, GUILLERMO ANTONIO GALLEGOS NAVARRETE, FIRST VICE PRESIDENT. SECOND VICE-PRESIDENT.

JOSÉ FRANCISCO MERINO LÓPEZ, LORENA GUADALUPE PEÑA MENDOZA, THIRD VICE PRESIDENT. FOURTH VICE-PRESIDENT.

CARLOS ARMANDO REYES RAMOS, FIFTH VICE PRESIDENT.

GUILLERMO FRANCISCO MATA BENNETT, MANUEL VICENTE MENJÍVAR ESQUIVEL, FIRST SECRETARY. SECOND SECRETARY.

SANDRA MARLENE SALGADO GARCÍA, JOSÉ RAFAEL MACHUCA ZELAYA, THIRD SECRETARY. FOURTH SECRETARY.

IRMA LOURDES PALACIOS VÁSQUEZ, ERNESTO ANTONIO ANGULO MILLA, FIFTH SECRETARY. SIXTH SECRETARY.

FRANCISCO JOSE ZABLAH SAFIE, JOSE SERAFIN ORANTES RODRIGUEZ, SEVENTH SECRETARY. EIGHTH SECRETARY.

PRESIDENTIAL HOUSE: San Salvador, at the fifteen days of the month of December of the year two thousand fourteen.

PUBLIC,

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________________________

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Oscar Samuel Ortiz Ascencio, Vice President of the Republic,

Presidential.

Orestes Fredesman Ortez Andrade, Minister of Agriculture and Livestock.

D. O. No. 235 Took # 405 Date: December 16, 2014

SV/pch 23-01-2015

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