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.

Read the untranslated law here: http://www.asamblea.gob.sv/eparlamento/indice-legislativo/buscador-de-documentos-legislativos/reformase-el-art.-4-de-la-ley-especial-para-facilitar-la-cancelacion-de-las-deudas-agraria-y-agropecuaria-2/archivo_documento_legislativo

1 Decree N ° 874 the Legislative Assembly of the Republic of EL SALVADOR, considering: I.-that by Legislative Decree N ° 263, dated March 23, 1998, published in the official journal N ° 64, take N ° 339 from 2 April of the same year, was issued the special law to facilitate the cancellation of the debts of agrarian and farming.
II.-that the aforementioned law since its adoption, aims, among others, contribute to the revival of the agricultural sector through the readjustment of loans to its current value and the establishment of financial mechanisms that allow you to immediately cancel the debts owed by recipients of land.
III. that expanded the effects of the decree dated 20 June 2014, through Legislative Decree N ° 720, N ° 263, for a period of six months expires thirty and one of December this year, in which at the time of ordering are existed an understanding and commitment of this organ of the State, which during the term established in the extension of the same you would be a review and analysis of the objectives achieved during the period of validity of the law that was from 1998.
IV.-that we need this organ of the State to give fulfillment to the previous recital so it becomes necessary to reform first subparagraph of article 4 of the special law to facilitate the cancellation of the debts of agrarian and agricultural, which is establishing the term of validity and the time that the law grants to the beneficiaries of the same to assist this , for a period of one year more that it shall expire thirty-one of December of the year 2015.
Therefore, use of his constitutional powers and at the initiative of the deputies and members: Audelia López de Kleutgens, Mario Marroquín, Seraph Orantes, Adelmo Rivas, Lorenzo Rivas Echeverría, Ronald Rivas Rubio, Oscar Ernesto Novoa, Samuel López, Abel heads, Melvin Bonilla, Norma Guevara de Ramirios, Álvaro Cornejo, José Santos Melara, Estela Hernández, Felix Agreda Chachagua, David Rodriguez; and with the support of members: Luis Roberto Angulo Samayoa, José Antonio Almendáriz Rivas, Reynaldo Antonio López Cardoza, José Rafael Machuca Zelaya, José Francisco Merino López and Mario Antonio Ponce López.
DECREES the following: reform to the law special to facilitate the cancellation of LAS debts agrarian and agricultural 2 Art. 1.-reformed first subparagraph article 4, as follows: "the institutions of the financial system, companies must sign with the creditor institutions referred to in this Act, an agreement, allowing grant to beneficiaries that request it, the nominated article 2 of the same , and that the date of entry into force have not cancelled amount owed, a loan at 6% of annual interest for a term of up to 12 years, which will be a grace period of two years, in which there will be no payment of capital and interest of any kind. These loans must be processed and formalized within the period ending the thirtieth day and one December 2015, being this period suspended the filing of any claim for the start of trial of nature Executive commercial or civil, involving embargo; as well as, those who are initiated and are at any stage of the civil or commercial, Executive legal proceedings against those debtors."
Article 2.-this Decree shall enter into force eight days after its publication in the official journal.
GIVEN in the blue room of the Legislative Palace: San Salvador, twenty-seven days of the month of November in the year two thousand fourteen.
OTHON SIGFRIDO REYES MORALES, PRESIDENT.
ENRIQUE ALBERTO LUIS VALDEZ SOTO, GUILLERMO ANTONIO GALLEGOS NAVARRETE, SENIOR VICE PRESIDENT. SECOND VICE PRESIDENT.
JOSE FRANCISCO MERINO LÓPEZ, LORRAINE GUADALUPE PENA MENDOZA, THIRD VICE PRESIDENT. FOURTH VICE PRESIDENT.
CARLOS ARMANDO REYES RAMOS, FIFTH VICE PRESIDENT.
WILLIAM FRANCISCO MATA BENNETT, MANUEL VICENTE MENJIVAR ESQUIVEL, FIRST SECRETARY. SECOND SECRETARY.
SANDRA MARLENE SALGADO GARCÍA, JOSÉ RAFAEL MACHUCA ZELAYA, THIRD SECRETARY. FOURTH SECRETARY.
IRMA PALACIOS LOURDES VASQUEZ, ERNESTO ANTONIO ANGLE MILE, FIFTH SECRETARY. SIXTH SECRETARY.
FRANCISCO JOSE ZABLAH SAFIE, JOSE SERAFIN RODRIGUEZ ORANTES, SEVENTH SECRETARY. EIGHTH SECRETARY.
Presidential House: San Salvador, on the fifteenth day of the month of December of the year two thousand fourteen.
PUBLISHED, 3 Oscar Samuel Ortiz Ascencio, Vice President of the Republic, in charge of the Office presidential.
Mr. Orestes Fredesmán Ortez Andrade, Minister of agriculture and livestock.
D. o. No. 235 volume no. 405 date: 16 December 2014 SV/HCP 23-01-2015 legislative index