Law No. 156 Of 7 October 1997 On The Financial Coverage Of Debts Towards The State And Other Legal Persons, Left By Abolishing The Former Agricultural Cooperative Production

Original Language Title:  LEGE nr. 156 din 7 octombrie 1997 privind acoperirea financiară a datoriilor fata de stat şi de alte persoane juridice, rămase în urma desfiinţării fostelor cooperative agricole de producţie

Read the untranslated law here: https://www.global-regulation.com/law/romania/3071090/-lege-nr.-156-din-7-octombrie-1997-privind-acoperirea-financiar-a-datoriilor-fata-de-stat-i-de-alte-persoane-juridice%252c-rmase-n-urma-desfiinrii-foste.html

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Law No. 156 of 7 October 1997 on the financial coverage of the debt to the State and other legal persons, left by abolishing the former agricultural cooperative production published in PARLIAMENT ISSUING the OFFICIAL GAZETTE nr. 271 of 9 October 1997, the Romanian Parliament adopts this law.


Article 1 outstanding Debts towards the State and other legal entities as a result of the abolition of the former agricultural production cooperatives, according to the law of the Land Fund No. 18/1991, shall be extinguished under this law.


Article 2 shall be cancelled the debts of the State budget, State social insurance budget, including the contribution to social security for farmers, left unpaid by the former agricultural cooperative production operation liquidation finalised heritage.


Article 3 the creditor banking companies will bear the risk of the remaining outstanding bank loans of the former agricultural cooperative production operation liquidation finalised heritage.
Interest calculated on these credits shall be cancelled and it supports from the provision established by the creditor banking companies.


Article 4 outstanding Debts against other legal persons and evidence thereof to the date of entry into force of this law shall be covered from the reserve fund in the case of legal persons.


Article 5 territorial Bodies of the Ministry of Finance, on the basis of enforceable titles drawn up according to the law, be forwarded for execution of the liquidation committees established under the law of the Land Fund No. 18/1991, are required to track and collect debts highlighted in the balance sheets of the liquidation of the estate belonging to the former agricultural production cooperatives disbanded according to the law, the State budget income, including amounts received before the date of entry into force of this law.
Where the debtor cannot be identified or is insolvent, territorial bodies of the Ministry of Finance will apply legal provisions relating to the procedure in the event of insolvency.


Article 6 the debts towards the State and other legal person remaining after the completion of the liquidation of the estate belonging to the former agricultural cooperative production, referred to in art. 2, 3 and 4, shall be adopted in accordance with the law, on the basis of the balance sheets and liquidation of debt, drawn up by the committees set up under the law are winding up the Land Fund No. 18/1991, approved by the Ministry of agriculture and food and the Ministry of finance, and banking credit companies.


Article 7 the debts towards the State and other legal entities, which shall determine, according to the law, the former agricultural cooperative production of winding operation has not been terminated, shall resolve in accordance with art. 2, 3 and 4, as the completion of this operation, and on the basis of the balance sheets of assets and liquidation of the debt laws drawn up by the committees set up under the law are winding up the Land Fund No. 18/1991, approved by the Ministry of agriculture and food and the Ministry of finance, and banking credit companies.


Article 8 the prefect, as the representative of the Government, will notify the Prosecutor's Office, court jurisdiction with respect to the acts committed by the members of the boards of liquidation that have caused damage through failure to comply with the obligations laid down by the law of the Land Fund No. 18/1991.
The President will take the necessary measures to ensure that, within 60 days after the date of entry into force of this law, all settlement heritage committees belonging to the former agricultural production cooperatives submit the liquidation balance, explanatory report and records of debts towards the State and other legal person remaining after the completion of the liquidation except they have filed under the law.
Failure to comply with the time limit referred to in paragraph 1. 2 constitutes contravention and shall be sanctioned with a fine of 500,000 lei 200,000 lei for each Member of the Commission on liquidation that is guilty of this.
The discovery and application of fine evaluation is done by the prefect or by its representatives.
To the extent that the present law as otherwise, the violation provided for in this article shall be subject to the provisions of law No. 32/68 on the establishment and sanctioning violations.


Article 9 the provisions of this law shall also apply to outstanding debts towards the State and other legal entities as a result of liquidation of assets, in accordance with the law of the Land Fund No. 18/1991, of past economic associations intercooperatiste not been reorganized into joint-stock companies, according to the law.


Article 10 revenue from administration or capitalization of assets of former agricultural production cooperatives, which, under the provisions of art. 28 Land Fund Act No. 18/1991, the private property of communes, towns and municipalities where they are located, pour the local budgets of the administrative-territorial unit in question.
This law was adopted by the Senate at its meeting on 11 September 1997, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. SENATE PRESIDENT OLIVIU GHERMAN this law was adopted by the Chamber of deputies at its meeting of 15 September 1997, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. GILBERT CHAMBER of DEPUTIES PRESIDENT R — — — — — — —