Act No. 162 / 1968 Coll.
Act amending Act No. 82 / 1966 Coll., on Insurance
Valid
Effective from 01.01.1969
162
THE LAW
of 19 December 1968
amending Act No. 82 / 1966 Coll., on Insurance
The National Assembly of the Czechoslovak Socialist Republic decided on this law:
The State Insurance Company, organised under Act No. 82 / 1966 Coll., on Insurance, as a National Insurance and Reinsurance Company, is divided into two separate insurance and reinsurance undertakings called "Czech State Insurance Company 'and" Slovak State Insurance Company'; the seat of the Czech state insurance company is Prague, the seat of the Slovak state insurance company is Bratislava.
If, in Act No. 82 / 1966 Coll., the insurance industry or other generally binding legislation is referred to as the State Insurance Company, then this means both the Czech State Insurance Company and the Slovak State Insurance Company.
(1) The Czech State Insurance Company and Slovak State Insurance Company enter into the law and obligations of the existing State Insurance Company as follows:
(a) The Czech State Insurance Corporation enters into the laws and obligations of the contractual and legal insurance and reinsurance contracts which are the subject of the business of the organizational units of the existing State Insurance Company with its registered office in the Czech Socialist Republic;
(b) The Slovak State Insurance Corporation enters into the laws and obligations of contractual and legal insurance, which are the subject of the business of the organizational units of the existing State Insurance Company, located in the territory of the Slovak Socialist Republic.
(2) The rights and obligations of the existing State Insurance Corporation from legal relations other than those referred to in the previous paragraph are transferred to the Czech State Insurance Company if they were established in the Czech Socialist Republic and to the Slovak State Insurance Company if they were established in the Slovak Socialist Republic. The management of the assets carried out by the current State Insurance Company is transferred to the Czech State Insurance Company, if it is for assets in the Czech Socialist Republic, and to the Slovak State Insurance Company, if it is for assets in the Slovak Socialist Republic.
(3) If it is necessary to organise more effectively the relations between the Czech State Insurance Corporation and the Slovak State Insurance Corporation, or their relations with insured persons or participants in legal relationships other than those provided for in paragraphs 1 and 2, the insurance undertakings shall, by mutual agreement, transfer the relevant rights and obligations between them by 30 June 1970 at the latest. At the same time, they will ensure that this transfer also contributes to creating the same economic conditions for both insurance companies as far as possible. The transfer does not require the consent of the authorised or, where appropriate, the committed, but their rights must not be reduced. The accepting insurance undertaking shall enter into the rights and obligations on the date specified in the Agreement. Similarly, the management of the assets can be transferred, which has been transferred to the Czech State Insurance Company and to the Slovak State Insurance Company pursuant to paragraph 2 of the second sentence.
The Czech State Insurance Company and Slovak State Insurance Company are divided to the extent appropriate to the rights and obligations assumed by them under contract and statutory insurance and reinsurance contracts, funds and reserves created by the existing State Insurance Company pursuant to § 7 of Act No. 82 / 1966 Coll., on Insurance. The funds created pursuant to § 8 of the same Act shall also be distributed among those undertakings.
The provisions of Sections 1 and 3 (2) of Act No. 82 / 1966 Coll., on Insurance, and the provisions of Section 5 (1) of that Act are deleted from the words "in Prague, the Regional Directorate for Slovakia, Bratislava."
This Act shall take effect on 1 January 1969.
Freedom v. r.
Srkovský v. r.
Ing. Cernik v. r.
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Regulation Information
| Citation | Act No. 162 / 1968 Coll., amending Act No. 82 / 1966 Coll., on Insurance |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 22.12.1968 |
|---|---|
| Effective from | 01.01.1969 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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