Law No. 250 Of 30 December 1998 On Modification And Completion Of The Law Nr. 66/1996 On The Reorganization Of The Economy And Society From Romania Consemnaţiuni Banking Stock

Original Language Title:  LEGE nr. 250 din 30 decembrie 1998 pentru modificarea şi completarea Legii nr. 66/1996 privind reorganizarea Casei de Economii şi Consemnaţiuni din România în societate bancară pe acţiuni

Read the untranslated law here: https://www.global-regulation.com/law/romania/3071468/-lege-nr.-250-din-30-decembrie-1998-pentru-modificarea-i-completarea-legii-nr.-66-1996-privind-reorganizarea-casei-de-economii-i-consemnaiuni-din-romn.html

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Law No. 250 of 30 December 1998 on modification and completion of the law nr. 66/1996 on the reorganization of the Economy and society from Romania Consemnaţiuni in ISSUING joint stock banking PARLIAMENT Published in MONITORUL OFICIAL nr. 516 of 30 December 1998 Parliament adopts this law.


Article 1, law No. 66/1996 on the reorganization of the Economy and society from Romania Consemnaţiuni banking stock, published in the Official Gazette of Romania, part I, no. 140 of 5 July 1996, with subsequent amendments, changes and shall be completed as follows: 1. Article 1 shall read as follows: Art. 1.-(1) House savings and abridged Consemnaţiuni C.E.C., called, a legal entity under private law, Romanian is reorganized into joint-stock banking company with sole shareholder State.

(2) the headquarters of savings and is in Bucharest Consemnaţiuni, Calea Victoriei nr. 13. (3) the duration of operation of savings and unlimited Consemnaţiuni is.
  

(4) the share capital of savings and is 220,000 Consemnaţiuni million lei. Modification of registered capital is done according to the law.
  

(5) House savings and may establish as Consemnaţiuni units subordinate branches and agencies or empowering, without legal personality, in the country and abroad. "
  

2. Article 2 shall read as follows: Art. 2.-(1) House savings and limit Consemnaţiuni performs the authorization granted by the National Bank of Romania, the following activities: a) attract, retain and seize the money savings of the population, the availability of money for legal persons, open accounts, make payments, currency exchange and receives sums towards duty;
  

b) grant loans to individuals for the purchase, construction, modernization, consolidation or repair personal property and housing for purchase of durable goods;
  

c) lending to businesses, both small and medium-sized enterprises.
  

Credits are granted on the basis of guarantees in a total volume not exceeding 20% of the assets of the savings and Consemnaţiuni, provided lending sources not come from deposits at sight of the population;

d) grant credits and State Central and local public administration;
  

e investment) securities issued by Central and local public administration;
  

f) invests on the interbank market;
  

g) capital shares are negotiated at company and/or financial, established by the Board of Directors of savings and Consemnaţiuni. The total for may not exceed the level of own funds and Savings Consemnaţiuni.
  

(2) savings and House Consemnaţiuni can lend small and medium enterprises and other types of loans, in the name and on behalf of the State, the sources made available, as well as from other sources that will be highlighted separately. "
  

3. After article 2 shall be inserted in article 2 ^ 1 with the following content: "Art. 2 ^ 1. -The requirements of prudential policy development specifically concerning the guaranteeing of loans to households, small and medium enterprises, as well as other loans shall be determined by the Board of Directors of savings and Consemnaţiuni, according to prudential regulations contained in the banking law and the rules of the National Bank of Romania issued pursuant to this Act. "
4. Article 3 shall read as follows: Art. 3.-(1) the sums deposited by individuals at House of savings and savings instruments Consemnaţiuni's, as well as interest and earnings due to these are guaranteed by the State. They shall be refunded at the request of the holders or legal representatives. Rights claims over sums deposited, interest earnings and are imprescriptible.

(2) for operations carried out savings and House fees or commissions Consemnaţiuni, under the conditions laid down by the Board of Directors. "
  

5. Insert after article 3 article 3 ^ 1 with the following content: "Art. 3 ^ 1. -In Home savings and is subject to the regulations contained Consemnaţiuni in banking law, as well as those issued by the National Bank of Romania in the conduct of monetary policy, credit, currency, finance, banking and insurance of prudentei is subject to the prudential supervision of the National Bank of Romania. "
6. Article 4 shall read as follows: Art. 4.-(1) operations of Home savings and Consemnaţiuni, the name supplied and of holders of deposits, monies and any other information in connection with the transactions carried out on their behalf are confidential.

(2) data on the holders name, supplied, stakes and transactions made on behalf of individuals and legal entities shall only give the holders or legal representatives, and in criminal cases in which he has set in motion the criminal proceedings against the holder, at the written request of the Prosecutor or the Court.
  

(3) Measures of indisponibilizare execution of the amounts deposited shall be taken in accordance with the law. "
  

7. After article 4 shall be inserted in article 4 ^ 1 with the following content: "Art. 4 ^ 1. -Credit agreements concluded by Home savings and Consemnaţiuni, as lender, are enforceable. "
8. In article 5 (c)) shall be inserted as follows: "(c) the judicial or arbitral actions), as well as any other documents in connection with savings and House Consemnaţiuni."
9. Article 7 shall read as follows: Art. 7.-(1) savings and House Consemnaţiuni is led by a Board of Directors, comprised of 11 members appointed for a period of 4 years.

(2) executive management of savings and is ensured by a Consemnaţiuni Chairman and Vice-Chairmen, appointed by the 3rd Prime Minister, under the terms stipulated by the law on banking.
  

(3) the President and Vice-Presidents are part of the Board of Directors. The other 7 members of the Board of Directors are appointed by the Minister of finance.
  

(4) the President of the House of savings and Consemnaţiuni meets and as Chairman of the Board of Directors. "
  


Article 2 Law No. 66/1996, as amended and with those made by this law, shall be in the Official Gazette of Romania, part I, items and posing a new numbering paragraphs.
This law was adopted by the Senate at its meeting on 3 November 1998, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. NICHOLAS, PRESIDENT of the SENATE ULM SADR this law was adopted by the Chamber of deputies at its meeting on 25 November 1998, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. CHAMBER of DEPUTIES PRESIDENT, Andrew John CHILIMAN — — — — — — — — — — — — — —