Reforming The Special Law To Facilitate The Cancellation Of 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 720

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 May 9, 2013, by Legislative Decree No. 375, the effects of Decree 263 were extended, for a period of one year that expires on the thirtieth of June of this year, in which at the time a decree existed a understanding and commitment of this Authority of the State, that during the period of validity established in the extension of the same, a review and analysis of the objectives achieved during the period of Vigencia of the Law that was from 1998 would be carried out.

IV.-That it is necessary for this Authority of the State to comply with the previous recital, so it becomes necessary to extend 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 six months more that will defeat the thirty-one of December 2014.

FOR TANTO,

in use of its Constitutional powers and at the initiative of Deputies and Diputados: Audelia Guadalupe Lopez de Kleutgens, Mario Marroquín Mejia, David Rodriguez Rivera, Melvin David Gonzalez Bonilla, Felix Agreda Chachagua, Abel Cabezas Barrera, Ciro Alexis Zepeda Menjívar, Samuel de Jesús López Hernández and José Santos Melara Yanes.

DECRETAAS:

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

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, from the nominees in

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________

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Art. 2 of the same, and that at the date of validity they have not cancelled the due, a loan to the 6% of annual interest within a period of up to 12 years, within which a grace period of 2 years shall be included, 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 2014, 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 twentieth day of the month of June 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.

CASA PRESIDENTIAL: San Salvador, twenty days of the month of June of the year two thousand fourteen.

PUBESQUIESE,

Salvador Sánchez Cerén, President of the Republic.

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Orestes Fredesman Ortez Andrade, Minister of Agriculture and Livestock.

D. O. No. 113 Took Nº 403 Date: June 20, 2014

SV/geg 30-07-2014

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