Article 46. Priority of Claims of the Liquidated Insurer's Creditors

On insurance activities (LRU-730-son) · Date: 23.11.2021 · In force

The claims of creditors of the liquidated insurer, after payment of expenses related to liquidation proceedings, as well as expenses arising from the need to ensure the basic functions of the liquidated insurer, shall be satisfied in the following order of priority:

firstly — the claims of the insurants under compulsory insurance contracts in the sector of life insurance;

secondly — the claims of the insurants under other compulsory insurance contracts;

thirdly — the claims of other insurants (beneficiaries);

fourthly — the claims under payment (executive) documents providing for payments to the budget, and to extra-budgetary funds. After full satisfaction of these claims, social insurance claims and citizens' claims for compensation for damage caused to their property by a crime or administrative offense shall be satisfied;

fifthly — the claims of other creditors of the insurer.

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Source of the text

National Database of Legislation of the Republic of Uzbekistan (lex.uz). Original on lex.uz: lex.uz/docs/6124730

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Cite as: Article 46. Priority of Claims of the Liquidated Insurer's Creditors On insurance activities (LRU-730-son). neolex.uz/en/laws/law-5739120/46 (lex.uz/docs/6124730)