Amended Pledge Law

Original Language Title: Grozījumi Komercķīlas likumā

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here: https://www.vestnesis.lv/ta/id/202275

The Saeima has adopted and the President promulgated the following laws: the amendments in the law to make the pledge Pledge law (Republic of Latvia Saeima and the Cabinet of Ministers rapporteur, 1998, nr. 24; 2000, no. 3; 2004, nr. 2; 2005, no. 10) follows: 1. Article 3, first paragraph: Add to paragraph 1, the words "or agricultural service cooperative society";
Add to paragraph 3, after the word "the" with the words "a trader or an agricultural service cooperatives".
2. Supplement article 4 second subparagraph after the word "the" with the words "a trader or an agricultural service cooperatives".
3. Add to article 10 the third paragraph after the word "the" with the words "a trader or an agricultural service cooperatives".
4. Express article 15 paragraph 2 of the third paragraph the following wording: "the pledge of employer 2) is the legal protection process or not declared insolvency process;".
5. Express article 17 paragraph 1 first subparagraph as follows: "1) pledge the employer is of the legal protection process (except in the pledging process of redress provided for in the action plan), or has been declared insolvency process (except in the pledging shall administrator);".
6. Supplement article 18, eighth after the word "the" with the words "a trader or an agricultural service cooperatives".
7. Supplement article 34 the second paragraph after the word "the" with the words "a trader or an agricultural service cooperative society".
8. Make the article 36 the fourth paragraph as follows: "(4) If a pledge is the guarantor of the proposed remedies or proceedings declared insolvency proceedings, the right of workers to pledge use pledge law is limited to the insolvency law."
9. Article 39: put the name of the article as follows: "article 39. If the use of the pledge, the pledge has the operator's business or agricultural service cooperative society property ";
to supplement the article with the sentence as follows: "If the pledged the entire agricultural service cooperative society ball and the company ceased the activity, not all property sales in General, unless otherwise agreed by the parties."
The Parliament adopted Act of 2009 on December 3.
President Valdis Zatlers in Riga V 2009 December 18.