Law No. 33 of 7 April 1934 for liquidation of debts of agricultural and urban areas published in PARLIAMENT ISSUING the OFFICIAL GAZETTE nr. 83 of 7 April 1934, Chapter 1, Section Regulating agricultural debts of debtors and the settlement of debts I determination of agricultural Article 1 a. Are considered agricultural borrowers borrowers Romanian citizens, individuals, obştiile, legal persons governed by private law, which have no profit-making, fondatiunile of any kind and the wealth of the former communities graniceresti regiments from Georgia Southern, Leyte and, if you are owners either aparenti, even 18 yet dela Decemvrie 1931 till today, of any of the goods listed below: a) of buildings likely to be subject to tax, provided for in art. 3 of the law, even if contributiunilor would be exempted by any legal dispoziţiunile;
b) houses, whatever their situation, if their owners are manual laborers from Earth. Performance of condiţiunilor above, it can be with all the common sample, however, where s ' would invoke acts by, these will not be applied unless you will have the date of the brawl, and in Transylvania and Bukovina, if they take power, according to the evidentiary legiuirile. In order to aplicatiunii of this Act shall be treated as goods inherited after 18 Decemvrie 1931 by debtors with legal vocatiune of succession, as their property, since achizitiunii these goods by the deceased.
B. agricultural Debtors mentioned under paragraph 1. the above benefits from dispoziţiunile this chapter if they meet one of the very top below: a) To live effectively and continuously, her one spouse or one of the parents or their children, or one of the joint-heir individuals, in a rural township at the latest with effect from the way the 18th Decemvrie 1931;
(b) their personal income) as an agricultural tax, according to the grades to represent at least 30 percent of the total amount of their personal incomes that have elementary served in calculating their global tax on 1933. From this total amount of income will decrease the personal income of the debtor's home, as well as a sum total of 80,000 Lions his income coming from lefuri, pensions, indemnities of any kind or profession. In calculating the annual income of forests, orchards and plantations of vines, tax exempt, it will calculate for Woods, half of the income of the agricultural land in the region, and for vineyards and orchards, groves will calculate the income as if he would be in full production.
Article 2 this article fall under hard all debts of debtors, delving into the article. 1, born before 1931, 18 Decemvrie except those exempted from this law. Debts overdue promulgation of law with posterior will consider to maturity on its promulgation.
Article 3 the amount of each of the claims, will be the existing on the date of promulgation of this Act, including the percentages still datorite, calculated until May 18, 1931, on the basis of Decemvrie law or conventiunilor, while complying with the usury and legiuirilor over this time, based on a simple percentage of 2 per cent per year.
Article 4 the debts of borrowers as referred to in art. 1 shall be reduced by 50 per cent of the amount determined in accordance with article. 3 of the Act. Thus, debts are going to pay in quarterly installments, 34 which will include an interest rate of 3 per cent per annum, payable every May 15 and 15 Noemvrie of each year, the due date of the first installment being 15 Noemvrie 1934. Each of the first two installments will be 2.50 per cent each, and each of the other two next to 3 per cent of the debt reduced under paragraph 1. 1. thirty Other rates will be equal, and will include all the remaining debt capital through four levels of above.
Rules of application of that law will also contain an array of sound absorption in calculating rates.
Article 5 will benefit Borrowers for any prepaid rate reduction of 6 per cent per annum, calculated from the day the payment is due until maturity.
Article 6 borrowers who will pay in full even one claim in advance, during the first two years, which from the promulgation of laws will benefit over the claim paid by an overall reduction of 70 per cent, provided that the pay in the first year at least 15 per cent plus interest at this percentage, the amount of its total, as established by art. 3, under penalty of loss of this beneficiary. Also, borrowers who will pay even only one claim in the first five years from the presence of promulgation, will benefit from an overall reduction of 60 per cent over the amount of such claims, established under art. 3, provided each year to pay at least 8 per cent of this amount, plus interest at this percentage, under penalty of loss of the benefit of this rebate.
Article 7 for the implementation of this law shall be considered as definitive statements of rehabilitation made by borrowers under the laws of 19 April 1932, Octomvrie 26, 1932 and on April 14, 1933, they we can be adaugite or modified in any way, with excepţiunea rectificarilor, rendered necessary on the basis of this Act. The debtor will be able to oppose the creditor any payment or further debt extinguishment.
Article 8 agricultural Borrowers more owners of 10 hectares and agricultural borrowers, owners of less than 10 hectares, but would possess and urban or suburban properties, which may be subject to tax on the buildings, which have not made statements to rehabilitation, will have to make such statements within one month of the publication law, which from. Statements made by owners of more than 10 hectares will be made at the Court of the domicile of the debtor and the owners of less than 10 hectares at the Court of the domicile of the debtor. They will feature a showdown of all amounts owed to the debtor, asset or income and all that as well as showing the current residence of the debtor and the creditors of domiciliilor show.
Article 9 Declarations made pursuant to article 13. 8 will be sent to all creditors borrowers show in Eady, within one month from the way of promulgation, through letters.
Article 10 referred to in article 24(2). Debtors 8 ' sanitation have made statements at the latest before the expiry of the period provided for in that article, as well as all those who, in their declarations made pursuant to article 13. 7 and 8, were omitted in bad faith a portion of their assets or showed fictitious debt, will lose the benefit of the law. Sliding into a pronounced after request of any interested party will take effect with respect to all creditors.
Article 11 lenders will communicate to debtors, at their request, the total remaining debt payment, according to the law, and what the debtor to pay, in accordance with art. 4. This communication does not equates to a recognition of the creditor in respect of the debtor's right to invoke the law.
Section II the pursuit of agricultural datorite of debtors amounts and sliding into their non-payment resulting from Article 12 of the Law did not change the face into anything convenţiunile that exist between the parties in terms of payment. In any case, the debtor will be able to free the datorite amounts by submitting valid perception or financial administration and receipt within the Court of the domicile of the creditor, announcing it via postcard.
Article 13 datorite Tracking amounts under this law will be made by each lender. Creditors who have not enforceable, but whose claim was recognized for her existence, in whole or in part by statements of rehabilitation, will be able to proceed, within the limits of recognition, upon execution, on the basis of a certificate of the Court where he made the statement, invested in the form of enforceable. The execution will be done in all cases within the limits of the reductions provided for by the law.
For obtaining enforceable titles for debts of debtors, delving into this law, cooperative societies will draw up tables, the specific debts, claims, he/she is the name of their parent borrowers, guarantors and guarantees and that will show up against the evidence at town halls, domiciliilor borrowers and guarantors, guarantors for rural municipalities and the police districts concerned for urban municipalities. These paintings are not final and are enforceable by themselves respecting the procedure and the rights of appeal provided for by art. 133, para. 2-5 of the law on the organization including cooperative.
The opposition will be able to make up for all the cases, without submitting any collateral and stamps. Claims companies subject to these laws, it will run against the borrowers, deprived of its benefit, according to the law on the Organization of the cooperative.
In the event of non-payment of a single installment, even against one of the lenders, the lender will be able to watch non-natural or civil fruits or revenues of any kind of the debtor. In the event of failure to pay the overdue second successive installments, even against one of the creditors, the debtor will be deprived of the benefit of the law, against the creditor, sought unpaid upon his property for debt was reduced by the presence of the law. However, judges will be able to grant a period of grace in case of destruction of at least half the harvest, through a fortuitous case. Borrowers will be able to prevent the effects of revocation in any stage of the prosecution before the day fixed for the sale, if you will pay all amounts due at the time, including expenses.
In the event of seizure of the debtor, it will harvest could ask the Court that ordered pursuit, as on the basis of art. 66 bis from civil procedure of the old Kingdom, to order the sale of the seized crop legal remedies and distribuierea amounts between lenders. Creditors with disputed claims, but found through final decisions, this law after promulgation of data, will not be able to run or invoke the benefit of the term, the loss against the debtor, if he will pay all past due on rates, together with legal interest for delay, from the due date of each installment, within 3 months from the date of final decision.
Article 15 where due to the loss of the benefit of the term, even from a single lender, one of the debtor's assets has been awarded definitively, by rejecting an appeal to the High Court of Cassation, the debtor will be deemed lost the benefit of the term with respect to all other creditors. Through the award of the final book in the territories before the war, where funduara means the completion of ordering preparation of ownership in favor of the buyer.
Article 16 when, as a result of any final award from the assets of a debtor, subject to the provisions of this chapter, creditors with claims, on the basis of the law would come into competition with creditors, not calling into law, or referred to in chapter III, and when the price of award ' would be sufficient to cover the total amount of claims and uncapped, then creditors with claims will be entitled to capitalize on the picture , the amount of debt, for its entire, without regard to the reductions.
If after such distributions s′ would assign these lenders an amount that would far outstrip the amount of claims, as it has been reduced by law, the excess will be distributed among creditors with claims, according to everyone's rights will be uncapped. Dispoziţiunile this article shall also apply to the distribution panels provided for in art. 24 and 27 of the Act, and to any other distribution amounts coming from pursuing the debtor's property.
Section III the debtor's patrimony during liquidation Article 17 All privileges, mortgages, warranties of any kind, legally established borrowers, until the promulgation of this Act, remain in force for datorite amounts, on the basis of this Act.
Article 18 Antichrezele legally established borrowers entering under this law shall be considered dismantled, the debtor being able to repossess the property, by presidential order, the date according to art. 66 bis civil procedure from the old Kingdom. The creditor will remain privileged rates on revenue related to claim his ninth inning. This privilege replacing the right antichreza, cannot be opposed to those of the third, as regards the natural fruit, than through the realisation of collateral, and advertising for the fruit, by fulfilling the applicable forms assignment of income. These formalities have been within one month from the presence of promulgation, conferring the privilege of rank on the day when the Act of antichreza has become enforceable against third parties.
Article 19 Gajurile of stock, bonds, mortgage bonds and public effects, analog, and any goods held by creditors of the debtors, delving into the provisions of chapters I and II, will be put up for sale with legal forms, creditors, after 6 months dela promulgation and sold on legal remedies. Product sale will free the creditor to gagist his claim reduced competition, considering everything you value low rates, race law mileage payment of such claims. The rest eventually will be distributed between the remaining creditors, in accordance with the procedure laid down in article 21. 27. The debtor will be able to also ask the creditor to sell these pledges in order of payment in whole or in part of its debt, and in case of refusal on the part of the creditor, the amount of the pledge, after stock exchange shares or mercurialele day, when the debtor has requested the removal of pledge, will fall due.
Article 20 Borrowers will be able to conclude with any of their creditors, any transactiuni on the respective claims, but may not be able to consent to them, new additional guarantees, discounts or lower interest rates higher than those set out in article 1. 4. The nullity of such transactiuni can now be invoked which creditors have accepted the provisions of this chapter.
Article 21 Acts, and live free of charge of any kind are forbidden. It exempts bequests or by way of universal, and universal constituirile dota, all creditors of the deceased or keeping inzestratorului and thereon their rights, whether they will be made in respect of these particulars provided for by article 6 real estates. 22 and 26.
Article 22 neobligati farm borrowers Lenders to request statements, through this law, may ask the clerk of a debtor's estate situaţiunii each, within 3 months from the way of promulgation, as the borrower to be enrolled in a special register of debtors subject to the provisions of this Act. This register is kept by the notary, under his own responsibility, and enrollment will be made on the basis of a simple application, which will be able to include more borrowers with legalized signature, in which it will indicate the claims and will make the choice of domicile and which will not comprise any reserve. Those who, in bad faith, made false will be appearing, shall be punished with imprisonment from 10 days to a month. Notaries are required to issue certificates to interested parties exempt from any stamp, certification of the existence of these entries or badly formed.
If such entries were made, certificates will show the name and domicile of the creditors who have been singled out. The markings made by a creditor seize all others.
Article 23 all those who wish to acquire rights in rem over real estate of any kind neobligati borrowers to make statements and to whom it will be singled out, in accordance with article 22, will not be able to obtain, on pain of nullity, transcript, enrollment or in the books funduare preparation of acts of disposal or encumbering of immovable real rights of these unless with the request that it will join the evidence that was filed at the registry of the Court of situaţiunea real estate the receipt of the amount of duty payable to the goodness of the Act.
Also will join in this request the Clerk's certificate, provided for in art. 22 and claims what ' would submit as value for money.
The court transcript, enrollment, or tabulation will check automatically if the price corresponding to that referred to in filed, and if the claims are filed as price rank and unquestioned obedience and parties and can dispose of creditors show. The acts listed above, which will not have been transcribed, entered or tabulated, will not be applied to the creditors, debtors, you just chirografarii.
Article 24 the judge shall order ex officio detour displaying that act at the door of the Court and at the Town Hall of the place of the real estate. Immediately after displaying the Act will fix a time limit for making the distribution panel, which shall not be shorter than 20 days dela and date display quotes from Office by letter recommended lenders show the Clerk's certificate, filed by any interested party. A creditor or guarantor will be able to intervene on behalf of the creditor, the inclusion of distribution, demanding the inclusion of the pictures.
The Court will proceed to the distribution between lenders enrolled and shedding enforceable, in proportion to the amount each of the claims, according to her rank and for the entire remaining debt payment. The Court will be able to also allocate provisional sums due to the other without enforceable claims or contentious, which will remain secured until obtaining an enforceable title. The distribution will be done through a Government Ordinance in the first and last date on which the Court of appeal and cassation only subject to the County Court.
In case of selling in installments will not be able to stipulate in the Act of selling the amount payable to the goodness of the Act to be less than half the price agreed, and the time limit for payment for the remainder to be longer than 2 years Dale goodness of the Act. The rest of the remaining price payment will be considered as a delegate irrevocably, yet the Act conclusion, all generations from creditors who were featured in the first distribution. Every price rate will be recorded in the manner shown above and will be distributed to the creditors that were listed in the first distribution. Sales and constituirile of rights in rem over real estate, made within 3 months after the promulgation of this law from the rock, without complying with the provisions of article 3. 23 and 24, will be inopozabile, if creditors will be made during this period the particulars mentioned in article 1. 22.
In any case the distribution of amounts arising will not be made until after the expiry of 3 months referred to in the preceding paragraph. Sales and constituirile of rights in rem over real estate borrowers entering into the article. 22, made within the law to Parliament, which from the submission and until the promulgation of them, even if they were allowed by the laws in force on that date, will be inopozabile, if creditors will be made within 3 months from the way of promulgation the particulars specified in article 7. 22. The debtor that will be paid on all their creditors, subject to the provisions of Cap. I and II of the Act, will be able to ask the Court to order the residence or cancellation from the register provided for in article 4. 22, joining them at the Clerk's certificate, provided for in the same article. District Court will set a time limit for appearance, citing all lenders show the certificate and will require the display of the application at the door of the Court and City Hall of residence of the debtor.
The term shall not be shorter than 15 days the display date. MORIS Cancellation from the register shall be ordered by the judge through a discharge subject to appeal to the Court of first instance respectively, within 10 days from the rock's pronouncement. This conclusion is acceptable only after rejection of the appeal or the expiry of the appeal.
Article 25 in the case of sale, any creditor will be able, even after the tabulation of the transcript or the Act with all means, prove, through a common law action, the price shown in the price is lower than the true agreed between parties and require that both the seller and the buyer, be condemned jointly and severally to the submission of difference noted. The seller proved that ended such acts will loose the benefit of law law of the face.
Article 26 Creditors debtors obliged by law to making declarations, will be required within 3 months of the Tribunal's promulgation, dela, respectively, or funduara, of the book to make the endorsement in a debtor's name, inscriptiuni, and for each property, the fact that the debtor has requested the benefit of asanarii. This can be done on the basis of a certificate issued by the Court where s ' reclamation declaration made no other formality. The application will not accommodate any reserve, and the signature will be notarized. The entry made after the request of creditors, take advantage of all the others.
Article 27 Buildings of all kinds of borrowers as referred to in article 26, the who have also done endorsements, will not be sold or encumbered by rights in rem, rather than with the authorization of the Tribunal in question. This authorization will be given in the Council Chamber, taking the opinions of all the creditors, the main cause is the Declaration of rehabilitation and will cite through letters or postcards. Creditors will be convened in a newspaper published daily in the capital high racking the country.
In the event that lenders representing more than half of the total value of the claims, will not approve the price Tribunal act motifs in will not be able to in no way authorise the sale than on a price representing at least income multiplied by 10 roles. Amounts payable to the making of laws will be submitted to the tribunal, before the transcript, enrollment or tabulation of the Act, to be distributed after the common law procedure, creditors declared or intervenienţi, shedding enforceable, or recognized by Decree, in proportion to the debt, according to her rank and for the entire remaining debt payment. Other creditors amounts due, without titles or with contentious claims, they may be allocated provisionally and will remain secured until obtaining an enforceable title.
In case of selling in installments, will not be able to stipulate in the Act of sale to pay that amount to the creation of the Act to be less than one third of the agreed price, and payment deadlines to be longer than 5 years.
Each payment rate will need to be made and distributed in the manner shown above, the rest of the price being considered as a delegate irrevocably, yet the Act conclusion, all generations from creditors who were featured in the first distribution. This picture is not going to be able to do it in a shorter period of 15 days following publication of the notice provided, which from above.
Sales of rights in rem, constituirile, as well as all payments relating to the buildings referred to in this article, for which I have fulfilled the above formalities, shall not be invoked against the creditor.
Sales and constituirile of rights in rem over real estate, made within 3 months after the promulgation of this law from the rock, without complying with the dispoziţiunilor of this article, shall be inopozabile of creditors, whether it will be done within that period the particulars mentioned in article 1. 26. In any event, the distribution of the resulting amounts, will not be made until after the expiry of 3 months from the preceding paragraph.
Sales and constituirile of rights in rem over real estate borrowers entering into the article. 26, each parliamentary deposit of law end from and until the promulgation of them, even if they were allowed by the laws in force on that date, will be inopozabile, if creditors will be made within 3 months from the way of promulgation, the particulars referred to in article 1. 26. The debtor that would be paid all his debts subject to the provisions of Cap. I and II, will be able to ask the Court that ordered the creation of the particulars mentioned in article 1. 26, deletion of such entries on the basis of an application to which they will join a copy of the Declaration of the ninth inning, and a certificate that confirms the indications made, indicating the name and address of the creditors who requested the creation of the register.
The Court shall fix a time limit for appearance, citing all lenders show the Declaration of rehabilitation or who have been singled out and will require the publication of the application in a daily newspaper, circulation, in the capital. Period of notice shall not be less than 15 days from the way of publication. Deletion will be effected by means of a closing date in the Council Chamber, be subject, in all cases, an appeal to the Tribunal Panel, within 15 days from the way of pronunciation. This conclusion will not become enforceable only after rejection of the appeal or the expiry of the appeal.
Article 28 Lenders chirografari you dispoziţiunilor this law subject to borrowers, with claims filing law arising out of the Parliament, will not be able to exercise their rights over the amounts arising from the sale or creation of rights in rem over immovable property of the debtor to which have made endorsements, according to art. 22 and 26, but after the previous filing of creditors indestularea the law in Parliament. Any interested party will be able to prove by any means antidata.
Article 29 agricultural Borrowers would have urban real estate will not be able to hire these real estates than on not more than three years and will not be able to assign the proceeds of such immovable property or collect rent with anticipatie more than 1 year, under penalty of inopozabilitatii against creditors who have accepted the provisions of this chapter.
Agricultural borrowers will not be able, under the same penalty, assign or charge with anticipatie arenzi, for a period of more than one year, and no pledges on their crops constitute more than a year.
Chapter 2 the regulation of urban article 30 debt. Are considered urban borrowers, borrowers Romanian citizens, individuals, legal persons governed by private law, which have no profit and fondatiunile of any kind, if you meet both conditions below: a) to be owners even aparenti still dela 18 Decemvrie 1931 till today, of buildings likely to be imposed tax on buildings referred to in article 1. 13 of the law on direct contributions, even if they were exempted by any of the laws in force. This order can be with all the common sample, but if s ' would invoke acts by, these will not be applied unless you will have the date of the brawl, and in Transylvania and Bukovina, evidentiary power, according to legiuirile. For the purposes of this Act, the aplicatiunii shall be treated as goods inherited after 18 Decemvrie 1931 by debtors with legal succession, vocatiunea as achizitiunii from the moment of their property such property by the deceased;
b) To not be considered agricultural borrowers by applying art. 1. B. urban Borrowers listed under paragraph A of this chapter shall be eligible for dispoziţiunile, if you meet one of the following: the very top of their gross income) estate after tax, rely not surpass the figure of 60,000 lei Bucharest, 48,000 lei for municipalities and 24,000 for other urban municipalities;
(b) their personal income) estate tax, according to the grades to represent at least 30 percent of the total amount of their personal incomes that have elementary served in calculating their global tax on 1933. From this total amount of income will decrease the personal income of the debtor's locuintii, as well as a sum total of 80,000 Lions his income coming from lefuri, pensions, indemnities of any kind or profession.
Article 31 fall hard this article all debts of debtors entering into the article. 30, born before 1931, 18 Decemvrie except those exempted from this law. Debts overdue promulgation of law with posterior will consider to maturity on its promulgation.
Article 32 amounts subject to this chapter will be the existing on the date of promulgation of the law, including conventional or legal percentages, due up to this date still, calculated in compliance with legiuirilor upon usury.
This article is referred to by the debtors will receive a discount of 20% or more of their debts, calculated in accordance with article 32, the balance being payable in 10 years in equal instalments quarterly, which will also contain an interest rate of 6% per annum. These rates will be payable on 15 May and 15 Noemvrie of each year, the first being 15 maturity Noemvrie 1934.
Implementing regulation of the law will also contain an array of sound absorption in calculating rates.
Article 34 Borrowers will qualify for any prepaid rate a discount of 8% per annum, calculated from the day the payment is due until maturity.
Article 35 borrowers who will pay in full, even only one claim during the first two year dela promulgation, will get a total discount of 35%, provided that the pay in the first year at least 32% of its total amount, as established by art. 32, plus related interests of this percentage, under penalty of loss of the benefit of this rebate.
Also, borrowers who paid in full even a debt in advance during the first 5 years dela promulgation, will benefit from an overall reduction of 30 per cent of its total amount established under art. 32, provided that his pay at least 14% of this amount every year, plus related interests of this percentage, under penalty of loss of the benefit of this rebate.
Article 36 the debtors, delving into the provisions of this article, are obliged to make statements to the Court within the time limit, and with the contents of the declarations referred to in article 1. 8 of this law. These statements will be shared in the manner and terms shown by art. 9. Takes these statements in the manner shown above, entails and the penalties laid down by sliding into art. 10 of the Act.
Article 37 provided for borrowers Lenders of this chapter will be able to ask for the creation of the register provided for in article 4. 26 of this Act, in the manner indicated by that article, mentions that they will have the same effects as those shown by styled text.
Article 38 Disposal and constituirile of rights in rem over assets, for which entries were made above, we will not be able to do only in the forms and under the penalties provided for in art. 27. Article 39 Dispoziţiunile articles: 12, 13, 14, paragraphs 1 and 2. 1, 2, 4 and 6; 15, 16, 17, 18, 19, 20, 21, 26, 27, 28 and 29 shall apply to borrowers and delving into the provisions of this article.
Chapter 3 the regulation of debt to the creditors who would not accept the preceding chapters Article dispoziţiunile 40 creditors who would not accept the way of winding-up proceedings provided for in chapters I and II of the present law, for their claims, they should make statements to that effect before the Court of the domicile of the debtor, within 40 days after the promulgation of this law from the rock. This statement shall contain: (a) name and domicile of the creditor);
(b) the name and domicile of the debtor);
Figure c) claim, indicating the initial capital, interest payments already levied and interest still datorite;
d) nature of the claim, the title of which isvoreste and its guarantees of any kind. Statements are irrevocable and can not comprise any reservations or restrictions.
Article 41 Takes these statements, as it said in the article, within the deadline stipulated by law, equates to an irrevocable acceptance on the part of the creditor, of the dispoziţiunilor chapters I and II of the law of the face.
Article 42 Lenders who have made statements of rejection will be able to exercise the rights deriving from their claims, only in the manner fixed by the articles below.
Article 43 Shall be granted to all borrowers show in chapter I and II for the debts of their declared under article. 40, within 10 years due to the promulgation of this Act, from the rock with an interest rate of 1% per annum over the initial capital, payable on the 15th of each year, Decemvrie first 15 maturity being Decemvrie 1934. At the end of this period, the Council of Ministers will be able to extend this period of grace on a period not exceeding 5 years, under the same conditions.
Article 44 in the event of non-payment of interest, the lender will be able to track only the fruits of property of the debtor, in respect of the interest in arrears.
Article 45 of the debtor will be able to, either the main action either on the way to excepţiune, to recalculate the interest already paid or owed, even if it had occurred in the meantime a final decision on them. In case you would find that the debtor had paid as interest, commissions of any kind or any other accessories, an amount which outstrips the proper on the basis of a simple interest calculation or the maximum legal interest, the difference will be deemed to have been received on the basis of a uzuare Convention and will be charged on the debt.
Interest, commissions of any kind and any other accessories datorite yet, will be reduced through a recalculation after the rules laid down in the preceding paragraph. The debtor will be able to use any of the sample means for recalculation of interest.
Article 46 in order to ensure that law, the State will be able to proceed to expropriation, in whole or in part, to claims subject to the provisions of this chapter, based on this expropriation as public utility. Expropriation tribunal will declare, on the basis of a request addressed to the Minister of finance, approved by the Council of Ministers, with the application forms provided for by the law of expropriation for public utility. Expropriation price will be fixed in relation to the real value of debt, expropriated calculated on the basis of the ratio between the amount of receivables and debtor's assets taking into account the rank of each receivable. This price will be payable in cash or by renta 4% State, counted on the nominal value and the intangibles in 50 years.
Article 47 once the debt was declared expropriata, any prosecution begun based on her is suspended until the submission of price. The lender, which has no enforcement will have, before the payment of the price, get the instrument permitting enforcement, citing in court and the State.
After price, the State is subrogat in expropiati all rights of creditors, creditor being obliged to submit any title or rights to the expropriation court before receipt of the price.
How enforcement of such claims by the State shall be established by means of a subsequent law.
Article 48 all the tracking and insurance of any kind, established on the basis of the claims covered by this chapter, until the promulgation of this Act, shall, at the request of the debtor disband, art. 104 from civil procedure of the old Kingdom, the debtor being forced to join the certified copy request after the creditor's statement, made in accordance with article 40. The award for which Ordinances exist appeal brought within, pending the High Court of Cassation and justice, will disband following the procedure laid down in article 21. 68. Chapter 4 General, special and Dispoziţiuni transitorii Section Dispoziţiuni concerning the distribution of them losses Article 49 Sureties, guarantees and in General any obligations you have accessories that claims law, benefit from all the advantages provided for in this Act for the principal debtor, remaining obliged only to that extent.
Guarantor or guarantor that would meet the conditions set out in articles to. 1 or 30, you will be able to invoace the provisions of chapter I and II, even if the principal debtor would not fall within the provisions of these chapters. Guarantor or guarantor in solidarity, individual, of a debt of a debtor, having a property less than 10 hectares will not be pursued for payment of amounts payable under this Act, unless the creditor proves that went with the pursuit against the debtor until the main seizure or the application of its command over property. The main Codebitorul of a debtor jointly and severally delving into the provisions of this law, will be able to exercise his rights of recourse on the latter, until competition the amount the debtor subject to the provisions of the law would be followed to pay the creditor.
Article 50 traders and industriasii, and companies other than those referred to in article 1. 52 and the next as well as agricultural and viticultural trade unions that would have at least 15 percent of their total claims subject to the provisions of chapter I and II and who agreed to all borrowers, delving into the chapter I and II, the provisions of these chapters will be able to ask the Court to proceed at the request of creditors, as well as to declare, if you accept the proposed arrangement of the trader , made it into the very request for convocation; in case of acceptance, the proposal will be immediately binding on all parties. Otherwise, the matter will be referred to an arbitration comisiuni, composed of a judge of the Court of first instance, as President, of a delegate of the debtors, creditors immediately, and a delegate of the borrowers.
All preventive Concordat law dispoziţiunile, relative to the convening, in the verification of the claims of creditors and the creditors ' vote, and are applicable to the procedure laid down in this article. The request for convening the creditors has effect and may suspend any chases, is also setting up any measure, until the conclusion of the arrangement with creditors, or until putting the decision of the Arbitration Commission.
Article 51 the Commission shall give a reasoned decision, based on real capacity to pay petitioner. It is given by a majority of votes and in case when ' would crop up more than two opinions on the President's opinion will prevail.
The decision will be final, without appeal or recourse.
The Commission shall not grant a reduction greater than the ratio as a percentage of the damages sustained by the petitionar through reductions deriving from this law and the totality of the asset or, and provided that the period of payment may pass for 5 years.
In the case when the Commission will calculate that the petitioner is not able to meet these minimum conditions, or if the borrower won't meet its obligations deriving from the arrangement made with his creditors, or would not comply with the obligations imposed by the decision of the arbitration, any unpaid creditor will be able to ask a court liquidation procedure, the petitioner heritage went bankrupt, but without being able to ask for a statement of the bankrupt and without being able to intercept the individual executions.
Article 52 credit institutions of all kinds, limited-liability company, which will have a placement that is subject to the provisions of this Act, more than 10% of all their claims, and who agreed to dispoziţiunile all their debtors, chapters I and II, will be able to make an arrangement with the creditors for payment of debts of institutiunii question.
The arrangement will be regarded as valid and binding for all creditors, whether it will meet the adhesion of creditors who represent the majority of the claims. Institutiunile referred to in the previous paragraph will be able to also ask the President of the Tribunal to be convened by a judging ability to pay Institutiunii, composed of a delegate of the National Bank of Romania, as President, of a representative of the institution, appointed by the Board of Directors and of a representative of creditors, cast lots for the first President of the Tribunal, after the list presented by the Institution of its creditors.
Article 53 the Commission shall give a reasoned decision, based on real capacity to pay, through which Institutiunii will fix the term of payment, as well as the interest due Institutiunii. Judgement is given by majority vote, or in the event that s ' would crop up more than two views, the President will prevail. Any creditor, and the institution may submit pleadings by, without however comisiunea will be obliged to summon the parties. Conclusion the Commission will be without appeal and binding. It will be the subject of an appeal in cassation to the Court of appeal that, within 15 days from the presence, for the reasons shown pronouncement in the organic law of the High Court of Cassation and justice. In case of breakage, the appellate court will conjure up the Fund.
Article 54 Comisiunea won't be able to determine a price reduction claims higher than the ratio as a percentage of the losses incurred by the reductions deriving from this law and asset Institutiunii and no longer than 5 years dela date decision.
Article 55 if comisiunea would calculate as institutiunea is not in a position to execute these minimum conditions, will liquidate comisiunea institutiunii and will appoint a liquidator, which may be a credit institution charged to liquidate under the dispoziţiunilor commercial code of the old Kingdom, and the institutiunea can be declared bankrupt or is subject to individual prosecutions.
Article 56 for the purposes of the provisions of art. 52, 53 and 54, Institutiunile referred to in these articles will have the right for a period of maximum 6 months after its promulgation, dela restitue their creditors only a share in relation to their capacity, which will be fixed by the National Bank of Romania. In the event of refusal on the part of National Bank of Romania to take a decision in this regard, the institution will be able to address the courts to secure these rates.
Article 57 the application submitted to the National Bank of Romania will have the effect of suspending any chases, or insurance claim in bankruptcy. The decision by the National Bank of Romania or courts, will not be within the deadline date than 6 months which from the promulgation and shall have effect only for a maximum of the same term.
Article 58 the failure by Institutiune of any of the obligations deriving from the arrangements concluded in accordance with article. 52, or resulting from the conclusion of the Commission provided for in the same article, pose as any lender to require revocation arrangement or the effects of the closure of the Commission. In case of acceptance of the application for revocation of rights, the Court will order the liquidation of the institutiunii at the same time and revocation of its General Assembly for a date fixed in the meeting, with a view to the appointment of a liquidator who will proceed to liquidation after commercial code provisions, without that institutiunea may be subject to the statement of the bankrupt and any individual action.
Article 59 Managers and directors who, in bad faith, it would have presented a list of fictitious creditors or creditors, which would be presented to the Commission for incorrect information on the situaţiunii institution, will be punished with the penalties provided for the offence of fraud.
Article 60 credit unions enjoy the regime established by article 6. 50 and seq., with the following exceptions: creditors ' meetings will be chaired by the head of the Court in question, and comisiunea of the arbitration will be chaired by a delegate of the national Office of the cooperative.
Article 61 Institutiunile a composition of credit having approved the promulgation of this law, which would have at that time a percentage of not less than 15 per cent of all their claims, subject to the provisions of this Act, and who agreed to all their provisions debtors head. I and II, shall be entitled to a grace period of 5 years from the presence of promulgation of laws for payment of all rates concordatare datorite yet.
In the meantime, the above institutions will not be able to cancel the Concordat, will not be able to be declared bankrupt, nor be subject to individual pursuits. These institutions will be able to benefit from the provisions of articles 13 and 50 and following. in this law, after distincţiunile laid down in those texts, provided that, within one year after its promulgation, which from its drop to a composition.
Section Dispoziţiuni special Article 62 a special Convention will arise between the State and the National Bank of Romania, whereby the State undertakes, for the duration of this Act, pay National Bank of Romania by an amount of not more than 450,000,000 lei annually, to serve both the partial coverage of reductions suffered by the National Bank of Romania portfolio on the basis of these laws and substantive law for maintaining credit generally and the cooperative.
Payment amounts shall be entered in the budget each year on the basis of this Act and conventiunii. National Bank will be entitled to such sums from retie the payments are for the account of the State of Romania's National Bank.
At the conclusion of the agreement, the State will submit it to the National Bank of Romania Treasury bills, equal to annual rates will be payable in 15 years. These vouchers will be guaranteed with gold mines production of the State, as well as with all the proceeds of the State's gold mines. These vouchers will be returned to the State as payments. The allocation and use of amounts paid by the State shall be made in accordance with those who will lay down convenţiunea up.
Article 63 Marital debts First Credit Society Land Rural (Rural credit) will rule dispoziţiunilor of this article, namely: 1. Loans in analog land 5 per cent rural, Rural credit, by way of derogation from the law on the civil society of countryside Land Credit 27 June 1923 and its statutes, shall be authorized To: (a)) from circulaţiune and to cancel land rural analog 5 per cent for a nominal value equal to half of the issue in the circulaţiune, representing debt borrowers on 1 January 1932. Detentorii of rural land analog 5 percent, will receive the new company end from analog land, same issue, bearing the same interest rate, for a nominal value, representing half of the nominal value of scrisurilor presented at the Exchange.
For this purpose shall be granted detentorilor of analog 5 per cent for a period of 6 months from the way of the publication of this law in the Official Gazette, within which to make declaraţiuni at the Head Office of the company, whether or not they accept the redemption of securities you posses. Detentorii that will not make the statement within the period considered showed up, as agreed in the very top of this securities exchange laws. New analog land 5 per cent shall be exempt from any taxes, both present and future, be upon interest covered by the coupon either over the capital.
Also will be exempt from the payment of stamp papers both coupons and capital of these analog presented at the society's House. Scrisurile rural land within 5 per cent today in circulation will not be presented to the House for the renewal of Society, shall be submitted in addition to the current taxes at a supracota tax 60 percent on the interest charged to a tax of 50% (fifty per cent) of the capital, which will retain a company to pay to be paid to the State. The State will cover any losses why Rural credit scrisurile will try to land what will not be changed;
(b) To distribute the amount) will be achieved through this reduction between borrowers the loans in analog land 5 per cent loss in proportion as each tried to cash transformation effects, taking into account loans after 1 January 1919, the scrisurilor from timing of loans, and for those made before 1 January 1919, the scrisurilor will be reckoned of stakes.
2. Loans made in analog 10 per cent, Rural credit, will apply with effect from 1 January 1932, a 15-year term, an interest rate of 5 percent, instead of 10 per cent per year, and will be charged with detentorilor in the same period of time, based on coupons, with an interest rate of 5 per cent per annum per cent of Lions nominal. Starting July 1, 1934, which from the Rural credit will charge, for a period of 15 years, in the capital because of its lending in rural land contracted analog 5 per cent after January 1, 1919, and datorite loans in analog land 10 per cent, with an interest rate of 3 percent instead of 5 percent, and the State will pay the difference of 2 percent , it will shed its Rural credit dates 1 May and 1 Noemvrie each year, according to the Convention, which will conclude with the Rural credit, without the need for a new law authorizing the State to do so.
3. delayed loans Rates with analog land, in view of the reductions undertaken by the company, it will capitalize on 30 June 1934 and will be reduced by half.
Their pay is so low it will make six-monthly installments with interest rate of 3 per cent, of which 1 percent National Bench will be charged. First rate will be payable from 1 Noemvrie, 1934. The deadline for payment will be not more than 15 years and it will be fixed after the request of borrowers, by the Board of Directors.
4. As a result of the obligations taken by State law the value of land in the area of inundation of the Danube from 1910, 1914 and 1925, to pay the loans guaranteed by the State and Civil Society the first contracted financial Credit Rural (Rural credit) in 7 per cent bonds of the Ministry of Agriculture and Areas as legal representative trade unions See Glen Burnie wastelands-and See-Daniels County Ilfov and Bratesul-the-top from jud. Nolan, the State takes upon himself 70 percent of annuities low until 30 June 1934, and 70 per cent of the capital payment on 1 July 1934, in which the State will pay in the future anuitatea.
Through special convenţiunea, which will conclude with the Rural credit, will rule the payment of annuities low until 30 June 1934, and passed the State divided capital without the need for a new law authorizing the State. The remaining 30 percent of the debt, capital and annuity, the burden remains over land, in indiguite generally and with the guarantees that have been contracted loans. The debt will be divided equally per hectare for both unions: Glen Burnie-See-See and Daniels, and for Bratesul-Union, allocation will be done equally, per hectare between owners of this Union.
The terms of these loans are extended on for 40 years. Rural credit will be charged, starting July 1, 1934, which from an annual interest rate of lei 2, 60 per cent of lions, whose bond loans are expected at the National Bank, and 3 lei, 50 money on loans whose bonds have been traded on the market. Rural credit detentorilor bonds will pay 7 percent annual interest rate, that on the basis of the National Bank, coupons, Lions 2, 60 per cent of the nominal value, Lions, and other detentori, Lions 3, 50 per cent of nominal lei starting July 1 1934 dela.
Administrative costs are reduced to borrowing money from 0.80 per cent lei starting July 1 1934 dela.
5. The debts of coming from loans with transfers, both those passed on to the State, under the law on the stabilisation of 7 February 1929, and those that have passed on the ' State, taking into account the reductions undertaken by the company, shall be reduced by 50 per cent. Time limits for payment of the duties thus reduced shall be extended until July 1, 1959.
For those passed on to State, Rural credit is taken out of bond and will charge starting on January 1, 1932, from the way that the annual interest rate, 2 percent, in favor of the State, and that the administrative expenditures 1 per cent in the capital loaned out. Debts passed on to the State will be able to be achiatate with internal state pension that will be received by the nominal value, whatever course they will cancel.
Shall authorize the State to conclude, through the ministries concerned with Rural credit, loans for the payment of convenţiunea passed on to the State. For the same loans that ' crossed over the State, Rural credit will be charged, starting July 1, 1934, which from an interest rate of 3 per cent, of which 1 percent will be charged by the National Bank. Interest rates and delayed expenses will capitalize on 1 July 1934, reducing it to half and will pay semiannual installments, with an interest rate of 3 per cent, of which 1 percent will be charged National Bank; first rate being payable at 1 Noemvrie 1934. The term shall be fixed by the Board of Directors requests the borrowers and will be for a maximum of 15 years.
6. The debts of coming from loans, account and discount rates shall be reduced by 50 per cent. Thus reduced debt will pay interest of 3 per cent of that 1 percent will be charged by the Bank within the squad who can't get past 15 years and that will be fixed by the Administrative Board to the demands of borrowers.
7. All the rights, guarantees and other conditions laid down in the loan contracts, regulations and statutes, for payment of debts (capital, interest and expenses, delayed installments) to Rural credit, remain untouched.
8. Your image will give borrowers to mobilize Rural Credit claims are exempt from stamp.
9. Shall be reduced in the same proportion of 50 per cent and debt of the premium Credit civil society Land Rural (Rural credit) to its creditors, whatever the nature of the debt, and the capacity in which they were incurred. Credit society Land Rural (Rural credit), will benefit from all its creditors of interest and payment modalities provided for in this law.
10. For the debts in cash, Loan borrowers will benefit Rural dispoziţiunile art. 5 and 6 of this law. The same dispoziţiuni will also benefit the company towards its creditors.
11. the State will cover any losses why Rural credit will try through the application of this law. It will be about convenţiune what will end between Rural credit and State, without the need of a law authorizing the State. It will go to the Convention and all the dispoziţiunile of this section, regarding Rural credit.
12. Art. 1 of the law promulgated by Royal Decree No. 1,121 and published in Monitorul Oficial nr. 82 of 6 April 1932, change only in terms of Credit societies Rural Land in the following manner: Scrisurile land and bonds will pay a fixed or up to date or by drawing lots after depreciation amounts affected entries, so never not be in circulation for a number of analog for a nominal value greater than that of the capital what is due from loans guaranteed by mortgages.
13. developing Processes on the basis of requests made under the laws of conversion, published in Official Gazette No. 93 of 19 April 1932, no. 251 of 26 Octomvrie 1932 No. 88 of 14 April 1933 is considered extinguished, and the decisions handed down in such processes are and remain void and without effect toward Rural credit.
Article 64 Companies borrow from civil societies of Urban Land, Credit in the show being 5 per cent, out of those who have contracted the loans before the de Decemvrie 31 1918, shall be reduced by 25 per cent (25 per cent) share capital capital due on 1 January 1933, with an interest rate of 3.50 lei (three and fifty) annually in the capital reduced to 75 (seventy five) , which include administrative expenses that may be deducted by the Board of directors after the situation of the institution. Accordingly and notwithstanding the loan companies act of Dale Land Urban of 20 March 1926, nominal value of scrisurilor issued by these companies with 5 percent annual coupon of boils, and the effect of this Act with effect 1 January 1933, Dale to 75 (seventy-five) hundred with a coupon of 2.50 lei (two and fifty) annually at this elevation of 75 lei.
Detentorii of analog will not be able to advertise unpaid debris from the coupons scrisurilor 1 July 1933, and on January 1, 1934, the companies being paid shares by operation of law for payment of such remnants. The above reductions from urban land, scrisurile in circulation will be stampilarea on the effect and coupons, within one year from the way of promulgation. Coupons analog of which will not be presented to the society for stampilarea in this time frame, generally will be paid only after the above presentation towards the rubber stamp of the writing.
Detentorii, within one year after the date of promulgation of the present law dela, will notify the company that it does not accept reductiunile and coupons above referred to, will be required by this Act to effect payments at the company House, with opportunity collection coupons, along with tax, legal, other movable tax of 50 per cent (fifty per cent), over the nominal value of the coupon and writing. The State is authorized by law to yield front, these companies tax of 50 per cent above pointed out, that serve to cover the coupon or plusului analog detentori, paid these without having to be concluded in this respect any special Convention with these companies. Scrisurile land whose value is reduced by 25 per cent, are exempt from any tax both present and future, be covered by interest on the coupon be upon the capital, starting 1 July 1934 dela.
Also will be exempt from paying stamp, papers, both coupons, and scrisurilor presented at the society's House. The loans made in analog 10 percent of Urban Land, Credits will reduce with effect 1 January 1933, which from this half-interest, paying detentorilor these analog-based coupons, an interest rate of only 5 per cent (five per cent), instead of 10 per cent, at face value. These analog and coupons are used and they stamp duty exemption and taxes specified in paragraph 2. 9 above. All rates are delayed, due to the imprumutatii of Credit societies, Urban Land 31 Decemvrie 1933 will be deferred for a period of 10-15 years after the debtor with a convenient interest of 6 per cent per annum, and the due date for payment of these rates will be the same as the ordinary rates.
Financial difficulties for relief from capitalization of old rates late, the State is authorized to open up such companies, through Filing, Consemnaţiuni and current account separately, until competition amount to 75 per cent of the amount of the old rates, staggered for a term of 15 years with an interest rate of 6 per cent per year in these accounts will be entered and the amounts charged to date. The remnants of price Credit datorite Urban Societies of the land under contract of sale of immovable property concluded until 1 January 1921, dispoziţiunilor are not subject to these laws.
Article 65 Transitoriu for Mortgage Claims which have not concluded agreements in accordance with the laws of April 19, 1932-April 1933 and 14 are subject to the provisions of the present law in everything. The State will pay compensation to mortgage credit Transitoriu of all damages suffered through reductions caused by this law.
Article 66 loans granted by Rural peasants, obstilor, peasant associations, cooperatives, and for purchase of land through bond issues (rural Vouchers), with interest rate of 5% and 10% on a yearly basis, shall be reduced by half, i.e. 50% payable in 15 years, with an interest rate of 3 percent a year, which will be paid on the premises of the rural House in two equal semiannual installments 15 may Noemvrie and 15 of each year, the first payment rate is 15 Noemvrie 1934.
Unpaid rates so far of borrow and interest for late payments relating to them, will also draw on and pay within 15 years, with an interest rate of 3 percent a year, all in two equal semiannual installments, on 15 May and 15 Noemvrie of each year, the first payment rate is 15 Noemvrie 1934.
The second consecutive failure rates attract loss benefits provided by law. Rural vouchers issued by the Rural House, in carrying out the above operations, holding coupons of 5% and 10%, and circulaţiune, are to be reduced in the proportion given to borrowers for their debts, i.e. 50% and with a coupon interest rate of 3%, representing the Rural House will charge its borrowers dela.
Reducing the value of the bonds and coupons, it will be found by applying a stamp on security, which will continue to circulate and beyond. Withdrawal from circulation of these Vouchers, reduced rural will be made as the annual amortismentelor. Such receipts and reduced rural their coupons will continue to be exempt from any taxes, present and future.
Also will be exempt from paying stamp papers both coupons and capital. Sub-loans granted cash of Rural farmers, on short deadlines, as well as unpaid interest capitalized, will be reduced by half, which will pay within 15 years, with an interest rate of 3 percent a year, in two equal semiannual installments, on 15 May and 15 Noemvrie of each year, the first payment rate is 15 Noemvrie 1934. The second consecutive failure rates attract loss benefits provided by law. The State will compensate rural House damage suffered by applying the law to liquidate the debts of agricultural and urban areas.
Section III General transitorii Dispoziţiuni and all the conventions and Article 67 trades, having an object or extinction debt liquidation between lenders and borrowers, with the presence of the law will enjoy a reduction of 50 per cent over the stamp duty and tax, which taxes will be charged only on the amount of money the debtor remained liable to pay , and the tax will not be charged air conditioning than on interest included in this transactie; will not pay tax on the capitalised interest movable according to art. 3 and 32. Inheritance taxes relative to claims subject to this Act, and still unpaid from its enactment, will review ex officio.
Article 68 measures tracking and insurance of any kind, in being taken before the promulgation of this law, against borrowers, delving into the provisions of this Act, by the lenders, delving into its provisions, will be dismantled, following the request of the debtor, which will judge the Council Chamber, with the attendance of all creditors trackbacks or intervenienţi. The sums realized by seizing income property measures tracked based on tracking and insurance, dismantled and that will be available to creditors find recorded until the promulgation of the law will face immediately distribute between creditors of the debtor pursued, in accordance with these rules laid down in article 23. 16 and the application of art. 5, 6, 34 and 35 of this Act.
The debtor will be able to request that those amounts should be used primarily to pay creditors exempted by article. 69, or payment of one or more claims with the reductions provided for in art. 6 and 35 of this law. Ordinances of the award against whom there are appeal brought within, pending before the High Court of Cassation, will be declared dismantled by the High Court following the request of the debtor, as formulated in the form of special reason of Cassation no later than two months after its promulgation.
The debtor will have to join the recurring on request, proof that fall within the law and that it has made within the statement of rehabilitation, where the law requires such statements. If the debtor declares that understand to judge on the basis of documents presented by repeating without ever asking if other evidence, or otherwise does not prove that referred the matter to the competent courts, the High Court will judge the reason even in substance, on the basis of the evidence produced by the debtor. However, if the creditor proves that the courts were seised of Fund, the judgment of the appeal will suspend the process until the deboning.
In case of suspension of the prosecution appeal, the successful tenderer who submitted the price, will be entitled to waive the award and ask for refund tracking price Tribunal filed the Court will rule in Emergency Room by the Council through a closing date with the attendance of all parties that were at tracking.
In case of acceptance of the application submitted by the successful tenderer charges for obtaining the Ordinance, including registration fees will be repaid to the successful tenderer.
Article 69 shall be exempt from the way the benefit of chapter I and II of the law the following debts: the debts of debtors) delving into the provisions of this Act, directly contracted towards the creditors of the natural or legal persons or companies of foreign nationality who have this quality from the time the debt is incurred and which ' domicile, principal or secondary establishment (agent, Representative Office) in the country. Foreign lenders who were domiciled in the country, whose claims come from sales of land got about succession, do not benefit from this excepţiune.
b) debts of traders and industrialists who had this quality at the time the debt is incurred, unless these debts are not civil nature or civil debt if the character is derived from the text of the contract of loan. This provision shall not apply to owners of goods referred to in article 1. 1, para. A, lit. to carry out a trade in a rural commune or which are common in small and medium rural and peasant Mills owners who grind with one of oium if they fulfil the conditions laid down in article 21. 1, para. B. c) debtors Debts whatsoever, and stems from criminal offences in respect of which there has been a definitive sentencing decision;
(d)), the County's debts or common, deriving from the taxes, fees or fines;
e) debts of debtors entering under this law, provided that the total does not compete half the taxable gross income from global year 1933. If such a tax would not have existed, this income will be calculated following the rules laid down in articles 81 and 82. 55 of the law on direct contributions from 1923;
g) dotale of wifes Claims officers, until competition; dotei
h) Claims credit institutes and State aid officials and public institutions;
I) service personnel and Salaries of manual workers; Background instances or tracking are competinte, at any stage of pricinii, to rule on the question, if the debtor fulfils the conditions, in order to fall within the provisions of the law or if the debtor or any of the exceptions provided for entering the claims above, as well as any decay. The lender will be able to ask for and the path of the main action to establish the above, and will judge the action of emergency and, in particular, in the Council Chamber.
Prestaţiunile, still not paid up to the date of 1 January 1934, springing from the bonds, with a fixed duration, or lifelong, born between 1 January 1920 and 1931, 18 Decemvrie due from debtors, delving into the provisions of Cap. I and II, are subject to these chapters dispoziţiunilor in everything. Prestaţiunile same borrowers, deriving from these bonds, maturing posterior 1 January 1934, remain payable at maturity, but their reduced with 50% of its value for agricultural borrowers and by 20% for urban borrowers.
Are subject to the same obligations of debtors, delving into the chapter I and II, deriving from lease or rental agreements, prior to 18, 1931, the owner could then Decemvrie but within 2 months after the promulgation of laws, ask for termination of the contract on the day of its promulgation. In respect of claims arising from prestaţiuni, they shall be considered born in the time of rendering of the service.
Article 71 of the Insurance Companies for their mortgage claims were accepted in full the provisions of chapter I and II, will be able to maintain these claims on mortgage-backed securities in the calculation of their mathematical and technical reserves, as required by art. 27 and 28 of the law of insurance, all on the whole as they have been received by the Office of insurance, for a while will not exceed five years from the way of promulgation. They will however be required to amortize the cuts suffered on the basis of the law, by equal annual amortization, during this period of five years.
Insurance undertakings whose legal placements at the branch of "Vieata", are affected by the provisions of this Act, in a proportion of at least 30% of their total investment at this branch, will be able to ask the Ministry of industry and trade, to postpone their obligations to repurchase loans at contracts up to 18 Decemvrie 1931, for a maximum period of 5 years and for a price not exceeding 50% of those bonds. Both the term and the respective share shall be determined by the Ministry of industry and trade, with the opinion of the Office for insurance supervision, in relation to the situation of the undertakings concerned.
Article 72 credit institutions which have claimed the benefits of the present law, are obliged to accept compensation for their claims against the claims of their borrowers, they would take against Institutiunii in question, even if those claims would have been purchased by the promulgation of this law the posterior borrowers. It will pay in cash interest datorite on the current year. The value of claims data in compensation will be determined, taking into account the reductions that we have suffered, according to art. 52 and following. Notwithstanding the provisions of this article, from the way compensation will not be mandatory during the period of six months referred to in article 1. 56 and 57.
Article 73 All individuals or companies, required by law to record keeping and which would be suffered by the application of this law, reductions in their claims, shall be entitled to account for these reductions in a special account and to amortize them, without that the amounts intended to be subject to sound absorption to taxes. Also, there are tax exempt revalorizarile of assets, made in order to cushion the difference thus obtained assets, reductions in particular motifs above account.
Article 74 All agreements concluded under the laws of 19 April 1932, 20 April 1932, Octomvrie 26, 1932 and on April 14, 1933, promulgated by Royal Decree No. Reach 1.346/1932, no. 1.411/1932, no. 3.037/1932 and nr. 1.154/1933 and all disposal rights in rem or constituirile, made in compliance with the provisions of the laws in force at the time of their creation, and remain valid, and parties are obliged to respect them.
Also, borrowers who under the laws referred to in the preceding paragraph shall have expressly waived the benefit of these laws, no longer able to rely in law on the face of the dispoziţiunile and are not subject to the common law. Transactiunile concluded by villagers with Popular Banks borrowers remain in force, except in cases when the General Assemblies of these instituţiuni would determine the improvements contained in these condiţiunilor transactiuni.
Offers made by debtors in accordance with articles 5, 6 and 9 of the law of 14 April 1933, are null and void, even if it were accepted by lenders, borrowers and may invoke the provisions of the present law, if it meets its conditions.
Article 75 declarations, applications, and in general all acts of procedure relating to the application of the dispoziţiunilor of this Act are exempt from any stamp duties; cambial actions provided for in article. 76 will be subject to tax only half proportionately.
Article 76 will be considered low on the day of the promulgation of the law, bills with due course or prolonged according to the previous laws, which are debtors under sign entering the head. I and II. For the pursuit of the action, on the basis of cambial bills from the previous paragraph, the creditor is dispensed by the goodness of protest can bring legal actions whenever, within 3 months from the way of promulgation of laws, while maintaining the rights of contribution or recourse. The actions already taken, cambial will continue at every stage ' would find it.
Decisions thus obtained will not be able to be carried out only within the limits laid down in chapter I and II. Neprotestarea these bills at previous scadentele, even if the debtors entered in any previous dispoziţiunile sanitation laws, there is no revocation for the holder of the promissory note, compared to any of the signatories of the promissory note, the guarantors or avalisti, related to these bills can be brought at any time within 3 months after the promulgation of this law from the rock. Bills of Exchange signed by borrowers who have made arrangements with creditors as referred to in art. 74, shall be subject to all the dispoziţiunilor of this article.
Article 77 Bills signed as issuers of necomercianţi, natural persons or legal persons governed by private law which have no profit and fondatiuni of any kind, with the maturing of three months inside for days before the promulgation of the Dale, they may be protestate whenever the period of 3 months from the presence of promulgation, with all the implications of the laws in force them atribue. protests
Article 78 the fact preschimbarii bills, which relate to a claim delving into the provisions of Cap. I and II, will be able to prove by whatever means. Lenders, holders of bills of Exchange, which for the purpose of making their debtors not to benefit from the effects of the law, will fill in the way those bills either disingenuous by changing the date of issue or maturity, either by changing the cause of constructing, or by transmission of these bills of Exchange antidatata to persons exempted from the presence of law or in any other way shall be punished with correctional prison for 1-2 years removed from him. Infaptuirii proof of these maneuvers will be carried out by any means. In all cases in which such would find ' maneuvers, so draft completed becomes null and void.
Article 79 of this law shall be eligible for dispoziţiunile and spouses who have made debt relief fund for conservation or through constructiuni or investitiuni dotal, if his wife will be given within one month from the way of promulgation a genuine statement to affect, the payment of debts and fund spouse dotal. When the Fund would be inalienable, dotal wife will need to be licensed for the purpose of administering the Tribunal equip and who will appreciate it as appropriate. Dispoziţiunile also benefits from this law and ultimate beneficial owner of an agricultural or urban background if the nude is to safeguard the affect owner debt Fund there have been within one month of the publication law, which from.
80(2) legal debts of uzufructuari parents ' rural property of minors and their children come into the law of front if these uzufructuari will present a guarantee on mortgages in the first rank on the estate, other than property of minors. Surface property offered as collateral in such mortgage, tax and by been accounted to rely on six thousand ha, will have to cover the reduced value of the claims in their entirety, according to this law.
The owner of the goods offered as collateral mortgage cannot be himself the face of the law. Warranty statement shall be in the form of authentic with the Declaration referred to in article 1. 8. The Tribunal will appreciate tracking if the Security meets the rigid conditions of this article.
Article 81 the agricultural or urban Borrowers listed in paragraph 1. Of art. 1 and 30, which would not meet the rigid conditions of paragraph 1. (B) of the same articles to qualify for discounts, legal will pay their debts in full born before 1931, 18 Decemvrie within 5 years in equal annual instalments, with interest payable to the National Bank's discount, with rates of capital. The first annuity will be paid 15 Noemvrie 1934. Failure to pay an annuity at maturity the debtor's forfeiture law draws from the benefit of the term. Benefit from these dispoziţiuni and industriasii traders and owners of any of the goods referred to in the text, but the top itself only for their civil debts, excluzandu those are trade, as defined by art. 69. b. application of Article 82 of this law For it equates to Transylvania and Bukovina laying on 10 acres with 20 jugare.
Article 83 tax authorities of any kind, are obliged to release following a simple request, and without any other evidence, copies from any kind of tax charges, the year 1933.
Farm owners debtors entering into the article. 1, whose estate is situated in Bukovina, will benefit from a reduction of 70 percent of their debt, the amount established under art. 3. Debts so low it will pay in the very top. 4, paragraph 1. 2. Article 85 Is amnistiaza all offences of alienation, displacement, or lien as provided by special law of pledge of National Bank of Romania, committed by borrowers who benefit from this law, tested or committed before the date of the submission to Parliament of the law, whether they are found in the course of investigation or judgement. Amnesty does not extinguish the civil consequences of a criminal offence, the court seised which may continue at the request of the party, the judgment of the civil action.
Article 86 the laws of 19 April 1932, Octomvrie 26, 1932 and on April 14, 1933, as well as any other dispoziţiuni of any laws, the law of opposites, am and remain repealed, and final decisions even liquidation of the debtor's debts obtained based on them, are deemed null and void, except for the provisions judged points maintained by the presence of the law.
Article 87 of regulation of public administration will desvolta the principles and mode of application of this law.
(Opinion of the Legislative Council, section II, Nr. 7/1934).
(Desbateri: Room No. 36/38-1933/1934; Senate, no. 26-1933/1934).
(Voted by the Assembly of Deputies and of the Senate on 4 April 1934).