Read the untranslated law here: https://www.vestnesis.lv/ta/id/249044
The Saeima has adopted and the President promulgated the following laws: the law of credit unions to make credit unions Act (the Saeima of the Republic of Latvia and the Cabinet of Ministers rapporteur, 2001, nr. 10; 2004, nr. 2; 2007, 15. no; 2008, 13. no; 2009, no 3; Latvian journal 2010, nr. 160.) the following amendments: 1. in article 5: make the first paragraph by the following: "(1) for one credit union members can be natural persons of full legal capacity of minors who either live in the same administrative territory, or is the real estate owners, or pursues commercial or engaging in this area. Credit unions may also be members of the local population are credit unions concerned members. One credit unions can build activity also in adjacent administrative areas. ";
express the fourth, fifth and sixth the following: "(4) credit unions statutes may provide that members can also become if the members ' spouses and their children, incapacitated persons. The minor children of the credit unions may only open a savings account.
(5) For one of the credit unions member can be a person who is a sole proprietor: 1), individual (family) business, farmer or fisherman's farmstead, where their owners are members of credit unions; 2) company (partnership and Corporation), whose members are natural persons, if one or more of the credit unions members own more than 50 percent of the voting rights in the share capital of such company; 3) agricultural service cooperative society, the apartment owners ' cooperative societies, horticultural cooperative society or another company that does not have the status of authorised economic operator, if at least one member credit unions own the voting share capital of such company;
4) society whose members are only natural persons and of at least one of them is a member of the Credit Union. (6) legal persons have no voting rights in the credit unions. "
2. Express article 8 the first paragraph by the following: "(1) the founding Members Of credit unions may be not less than 20 legal capacity of natural persons, which corresponds to article 5 of this law, natural persons." 3. Express article 18 as follows: "article 18. Credit unions with credit credit unions are entitled to receive a loan from the European Union registered banks or credit unions, from Latvian banking companies from the world, the European Union registered credit unions Association or Foundation, of State and local funds, as well as from State and local capital company. "
4. Express article 19 the third part as follows: "(3) the Credit Union shall not issue loans only to its members, natural persons, and this law, article 5 (1) fifth subparagraph persons referred to under the general meeting (the meeting authorised) approved lending policy." 5. Supplement article 22 with the fourth paragraph as follows: "(4) a credit union may provide that the statutes the Board, kredītkomitej and the members of the Commission of audit work is carried out free of charge." 6. Supplement article 23 with 2.1 part as follows: "(21) credit unions, which examined the annual accounts certified auditor or certified auditor company, submitted to the Commission for the management of credit unions Chartered auditor addressed or certified auditor commercial companies a copy of the report within 10 days after the approval of the annual report, but no later than three months after the end of the year." 7. Put the following text of article 27.1: "credit unions participating in the credit register determines the credit registry law." 8. Article 32: turn off the first part; turn in the second paragraph, the word "other".
9. transitional provisions be supplemented with paragraph 10 by the following: ' 10. amendments of this law and article 32, 27.1 and the amendment with regard to informative references, the European Union's exclusion of the directive shall enter into force on December 1, 2012. " 10. Turn off the informative reference to European Union directive.
The Parliament adopted the law of 24 may 2012.
The President a. Smith in 2012 on June 13.
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