What is Decree No. 164 / 1950 Coll.?

Decree No. 164 / 1950 Coll., on the performance of cash obligations from domestic insurance agreed in Czechoslovak crowns which were converted into Reichsmark — Order on the performance of cash obligations from domestic insurance agreed in Czechoslovak crowns, which were converted into Reichsmark.

When it became Decree No. 164 / 1950 Coll. effectiveness?

Decree No. 164 / 1950 Coll. became effective 23.12.1950.

Is Decree No. 164 / 1950 Coll. still valid?

Yes, Decree No. 164 / 1950 Coll. is still valid and effective.

Decree No. 164 / 1950 Coll.

Order on the performance of cash obligations from domestic insurance agreed in Czechoslovak crowns, which were converted into Reichsmark

Valid Effective from 23.12.1950

§ 1. § 2. § 3. § 4. § 5.

164.

Decree of the Minister of Finance

of 22 November 1950

on the fulfilment of cash obligations from domestic insurance agreed in Czechoslovak crowns, which were converted into Reich marks.

The Minister of Finance declares in accordance with § 12 (2) of Act No. 95 / 1950 Coll., which regulates certain insurance conditions:

§ 1.

Cash liabilities from domestic insurance agreed before 10 October 1938 in Czechoslovak crowns which, according to the rules of occupation power, were converted into liabilities in Reich marks in ratio 1 Czechoslovak koruna = 12 Reich fenics, are completed on 1 August 1945 in Czechoslovak koruna in ratio 1 Reichske mark = 10 Czechoslovak koruna. However, for life insurance other than temporary death insurance, the increase in the insurer's obligation as a result of the double currency conversion shall be eliminated in whole or in part in the manner set out in Section 2.

§ 2.

The reduction referred to in the second sentence of Paragraph 1 shall be equal to the sixth of the insurer's performance multiplied by the sum of premiums payable by 10 October 1938 to the sum of premiums paid for the duration of the insurance contract. The insurance premiums payable in the Reichsmark are recalculated at the rate of 1 Reichsmark = 10 Czechoslovak crowns.

§ 3.

The insurance as defined in Section II of the Order of the Minister of Finance No 163 / 1950 Coll., defining domestic insurance for foreign-based insurance companies and domestic insurance with full claims on Reichsmark.

§ 4.

The provisions concerning the transfer of the insurer's performance to a tied deposit remain without prejudice.

§ 5.

This decree shall take effect on the day of its publication.

Cable v. r.

§ 1. § 2. § 3. § 4. § 5.

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Regulation Information

Citation	Decree No. 164 / 1950 Coll., on the performance of cash obligations from domestic insurance agreed in Czechoslovak crowns which were converted into Reichsmark
Regulation Type	-
Author	-
Collection	Code of Laws

Date of Promulgation	23.12.1950
Effective from	23.12.1950
Effective until	-
Status	Valid

The regulation text is for informational purposes only.