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Law No. 1,207 Of 4 April 1931

Original Language Title:  LEGE nr. 1.207 din 4 aprilie 1931

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LEGE no. 1.207 1.207 of 4 April 1931 to amend art. 1 of the law for the establishment and operation of private insurance undertakings and regulation of the insurance contract, promulgated by Royal decree no. 2481 2481 of 4 July 1930
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 83 83 of 9 April 1931



CAROL II Through the grace of God and the national will, King of Romania, To all present and future, health: The legislative assemblies voted and adopted, and We sanction what follows: + Article UNIC Article 1 of the law for the establishment and operation of private insurance undertakings and the regulation of the insurance contract, shall be amended as follows: "" Art. 1 May exercise insurance and reinsurance trade only anonymous joint-stock companies. " " I can still exercise the insurance trade and the cooperatives that at the promulgation of this law practiced this trade. They will operate according to the same legal norms and provisions as the public limited companies. " " With regard to the capital and the guarantee to be constituted, the Ministry of Industry and Commerce, with the opinion of the Office for Insurance Control, may grant the cooperatives discounts on insurance branches in relation to the extension or limitation those operations '. This law was voted by the Assembly of Deputies at the meeting of April 1, 1931 and was adopted by a majority of one hundred and seventeen votes, against three. Vice-president, V. TONCESCU ((L. S. A. D.) Secretary, Pr. Stefan Cercel This law was voted by the Senate at the meeting of April 1, 1931 and was adopted by a majority of seventy two votes, against two. Vice-president, NICOLAE ROMANESCU ((L. S. S.) Secretary, E. Agliceriu We promulgate this law and order that it be invested with the seal of the State and published in the Official Gazette. ((L. S. St.) CAROL Minister for Industry and Commerce Mihail Manoilescu Justice Minister Dr. Voicu Nitescu -------------