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-1/archivo_documento_legislativo
1. Decree No. 720 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 agricultural.
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.-who dated 9 may 2013, through Legislative Decree N ° 375, the effects of the Decree 263, were extended for a period of one year, which expires on June 30 of 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 It would carry out a review and analysis of the objectives achieved during the period of validity of the law, which was from 1998.
IV.-that it is necessary that this organ of the State given pursuant to the previous recital so it becomes necessary to extend 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 six months which most will expire thirty and one of December of the year 2014.
Therefore, use of his constitutional powers and at the initiative of the deputies and members: Audelia Guadalupe López de Kleutgens, Mario Marroquin Mejia, David Rodriguez Rivera, Melvin David Gonzalez Bonilla, Felix Ágreda Chachagua, Abel heads Barrera, Ciro Alexis Zepeda Menjívar, Samuel Jesús López Hernández and José Santos Melara Yanes.
Next DECRETAla: reform to the law special to facilitate the cancellation of LAS debts agrarian and agricultural 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 nominees on 2 2 of the same article , 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 2014, 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, on the twentieth day of June of 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 twentieth day of June of the year two thousand fourteen.
PUBLISHED, Salvador Sanchez Ceren, President of the Republic.
3 Mr. Orestes Fredesmán Ortez Andrade, Minister of agriculture and livestock.
D. o. No. 113 volume no. 403 date: June 20, 2014 SV/geg 30-07-2014 legislative index
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