Article 183. Sale of Property Complex of Insurer

On insolvency (LRU-763-son) · Date: 12.04.2022 · In force

The sale of the property complex of the insurer may be carried out in the process of external management in accordance with Article 126 of this Law.

The buyer of the property complex of the insurer-debtor can only be an insurance company.

In the event of the sale of the insurer's property complex in the process of external management, all rights and obligations under the insurance contracts, under which the insured event did not occur as of the date of sale of the insurer's property complex, shall be transferred to its acquirer.

During the liquidation proceedings, the property complex of the insurer may be sold only with the consent of the buyer to assume insurance contracts for which the insured event did not occur before the date the insurer was declared bankrupt.

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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/6352957

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Cite as: Article 183. Sale of Property Complex of Insurer On insolvency (LRU-763-son). neolex.uz/en/laws/law-5957616/183 (lex.uz/docs/6352957)