Special And Transitional Provisions For The Granting Of Credits By The Fosaffi To People Who Lost Their Properties Used For Forest Plantations.

Original Language Title: DISPOSICIONES ESPECIALES Y TRANSITORIAS PARA EL OTORGAMIENTO DE CRÉDITOS POR EL FOSAFFI A PERSONAS QUE PERDIERON SUS PROPIEDADES UTILIZADAS PARA CULTIVOS FORESTALES.

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/archivo_documento_legislativo

1. Decree No. 677 the Legislative Assembly of the Republic of EL SALVADOR, considering: I.-that the sanitation and strengthening financial Fund, hereinafter FOSAFFI, received part of the liquidated Bank CREDISA, credits from the FOCAM line; These credits for various reasons showed problems of non-performing loans, which led to the FOSAFFI to initiate legal proceedings against these debtors, losing these properties focused on the forest crop.
II.-that the benefits that have forest crops to the environment is of utmost importance, not only to the area where the property is located, but for the whole country. So, it is necessary to support all persons who acquired credits for forest, from crops of the line of FOCAM, Convention of donation 519-0307. so, in this way they can recover their properties through new lines of credit.
III.-that is necessary to issue a decree establishing credit facilities for the persons mentioned in the previous recital, having the possibility to qualify for fees and rates of preferential interest, due to the purpose that provide services for the conservation of forest crops.
THEREFORE: use of his constitutional powers and at the initiative of the deputies and deputies Othon Sigfrido Reyes Morales, Orestes Fredesman Ortéz Andrade, David Rodriguez Rivera, Audelia Guadalupe López de Kleutgens, Irma Lourdes palaces Vásquez and Álvaro Cornejo.
DECREES the following: provisions special and transitional for the granting of credits by the FOSAFFI to people that lost their properties used for crops forest article 1.-is empowered to fund sanitation and strengthening financial, FOSAFFI, to sell real estate to borrowers of credits for forest cultivation that were transferred to this institution, from the CREDISA Bank liquidated , that due legal processes they lost their properties and want to recover them, provided that they have not gone into the hands of third parties and there are rights respected; such a sale will be made in the amount paid out as forest credit, loans that were granted by the grant AID agreement N ° 519-0307.
In addition to deemed beneficiary must not exist on the part of the debtor any proceedings pending against FOSAFFI or failing this check to the FOSAFFI that it has withdrawn the relevant legal action. The period to access the benefits granted in the present Decree, shall be a maximum year from the entry into force of the same.

2 those who will avail the benefits set out in this Decree, shall comply with the regulations issued by the General Directorate of forestry watershed management and irrigation of the Ministry of agriculture and livestock for the conservation of the forest of the building vocation, without that you can change the vocation of the same at least in ten years from the acquisition of the property.
Article 2.-for the sale of these properties is empowers the FOSAFFI to make preferential loans, with interest not exceeding 1.5% per year, with fees of not more than thirty dollars a month and according to capacity to pay of each debtor.
Article 3.-the present Decree is special and the FOSAFFI be able to develop the procedure or procedures that allow effective implementation of the same.
Article 4.-this Decree shall enter into force the day of its publication in the official journal.
GIVEN in the blue room of the Legislative Palace: San Salvador, eight days after the month of may 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.
DURAN JOSE FRANCISCO MERINO LÓPEZ, FRANCISCO ROBERTO LORENZANA, THIRD VICE PRESIDENT. FOURTH VICE PRESIDENT.
CARLOS ARMANDO REYES RAMOS, FIFTH VICE PRESIDENT.
LORRAINE GUADALUPE PENA MENDOZA, 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, to the twenty-second day of may of the year two thousand fourteen.
PUBLISHED, 3 Carlos Mauricio Funes Cartagena, President of the Republic.
José Armando Flores German Minister of economy.
D. o. No. 96 volume no. 403 date: May 28, 2014 JQ/geg 03-07-2014 legislative index