Amendments To The Law On Deposit Guarantees

Original Language Title: Grozījumi Noguldījumu garantiju likumā

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Read the untranslated law here:

The Saeima has adopted and the President promulgated the following laws: the law on deposit guarantees to make the deposit guarantee Act (Republic of Latvia Saeima and the Cabinet of Ministers rapporteur, 1998, nr. 13; 2000, no. 13; 2001, 22 no; 2007, 9. no; 2008, 22 no; 2009, 6., no. 14) the following amendments: 1. Replace the entire law, the word "Euro" with the word "Euro".
2. Replace article 3, first paragraph, the number "50" with the number "100 000 000".
3. Express article 8 the first paragraph by the following: "(1) the Bank and the foreign bank branch during the month after receiving permission (license) for the operation of the credit institution shall be made in a lump sum on the deposit guarantee fund of the original contribution in dollars from 1.5 percent of the original capital, but savings month after receiving permission (license) for the operation of credit unions, made a deposit guarantee fund one-time initial deposit 100 lats."
The law shall enter into force on January 1, 2011.
The law adopted by the Parliament in December 16, 2010.
President Valdis Zatlers in Riga of the 2010 December 29.