Article 185. Satisfaction of Claims of Creditors of Insurer

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

If the court declares the insurer bankrupt, the claims of creditors shall be satisfied in the following order:

in the first place — the claims of policyholders under compulsory insurance contracts in the life insurance industry;

in the second place — claims of policyholders under other compulsory insurance contracts;

in the third place — claims of other policyholders (beneficiaries);

in the fourth place — requirements for payment (executive) documents providing for taxes and fees. After the full satisfaction of these requirements, the requirements for social insurance and the requirements of citizens for compensation for damage caused to their property by a crime or an administrative offense shall be satisfied;

in the fifth place — 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/6352957

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Cite as: Article 185. Satisfaction of Claims of Creditors of Insurer On insolvency (LRU-763-son). neolex.uz/en/laws/law-5957616/185 (lex.uz/docs/6352957)