Act No. 190 / 1950 Coll.
Act on Tasks and Organisation of Insurance
Valid
Effective from 01.01.1951
190.
Law
of 21 December 1950
the tasks and organisation of insurance.
The National Assembly of the Czechoslovak Republic decided on the following Act:
General provision.
(1) In the interests of the working people, in order to ensure that all the tasks assigned to the single economic plan are carried out, its tasks and its organisation are regulated.
(2) Insurance within the meaning of this Act includes the operation of insurance, reinsurance, as well as the brokering of insurance or reinsurance.
Insurance.
Legal circumstances of the insurance company.
(1) The insurance is operated by the Czechoslovak insurance company, a national undertaking (hereinafter referred to as the "insurance company") established under the Decree of the President of the Republic No. 103 / 1945 Coll., on the nationalisation of private insurance companies.
(2) The insurance undertaking is a separate legal entity.
(3) The seat of the insurance company is in Prague.
The tasks and activities of the insurance undertaking.
(1) The insurance company has the exclusive right to operate voluntary and compulsory insurance of persons and property in the territory of the Czechoslovak Republic. It shall also be entitled to operate the collateral.
(2) The insurance company participates in the care to prevent and protect the occurrence of insurance events against their consequences, according to directives issued by the Ministry of the Interior in agreement with the Ministry of Finance and other participating ministries.
(3) The authorisation of an insurance undertaking referred to in paragraph 1 shall not affect the competence of a Central National Insurance Corporation or an insurance undertaking whose own purpose is to insure benefits similar to those of a national insurance undertaking.
(1) The insurance undertaking operates in a special insurance fund with separate accounting and management of national assets.
(2) National assets entrusted to the administration of state bodies are covered by comprehensive insurance in the scope and under the conditions laid down by the Ministry of Finance in an agreement with the Ministry of Interior and Construction and the Ministry involved.
(3) National and municipal undertakings are obliged to insure themselves against the consequences of statutory liability and to insure the assets entrusted to them in the administration against the damage caused by natural resources; This property can be insured against other damage only if the economic needs of the company so require. To the same extent, other socialist legal entities to whom national assets have been entrusted to the administration and designated by the Ministry of Finance in an agreement with the participating ministries shall be insured. The provisions of Part One of Act No. 99 / 1950 Coll., on Economic Contracts and State Arbitration shall apply mutatis mutandis to insurance contracts according to previous sentences.
The Government may provide for an obligation to insure against damage of a particular kind for a certain number of persons.
(1) The activity of the insurance undertaking is determined by its approved business plan. The business plan of the insurance undertaking is part of a single economic plan.
(2) The business plan of the insurance undertaking is approved by the Ministry of Finance.
Territorial organisation of the insurance company.
(1) The insurance company operates its activities through its headquarters, the Regional Institute for Slovakia in Bratislava (hereinafter the Regional Institute) and branches.
(2) The insurance undertaking is obliged to ensure direct contact with policy holders and cooperation with national committees by effectively decentralised its activities.
Insurance administration.
(1) The insurance undertaking shall be managed and represented on the outside by the managing director, who shall be personally responsible to the Finance Minister. It shall act separately unless it is established that it needs the prior approval of the Ministry of Finance or of another body to take its decision.
(2) The Head of the Director is represented by a Deputy who also manages a certain section of the insurance undertaking's activities.
(3) The Chief Executive and his Deputy Director are appointed and dismissed by the Minister of Finance after hearing the Central Authority of the Single Trade Union Organisation.
(4) The Director-General and his Deputy Director shall take the oath of the Minister of Finance.
(5) The managing director and his deputy shall take up their duties and become employees of the insurance undertaking if they are not; their duties shall cease on the date on which they were withdrawn or on the date on which it was noted that they were surrendered.
(6) The appointment and removal of the Director-General and his Deputy Director shall not be subject to the rules on co-decision of the race council on the recruitment and dismissal of staff, on the basis of the involvement of that representative in the assignment of staff to posts and the prior agreement of the national committee on the negotiation and termination of employment.
The Regional Institute shall be managed by the Regional Director in accordance with the principal instructions and guidelines of the Chief Executive; the Regional Director shall be appointed and dismissed by the Minister of Finance after hearing the Head of the Director and the Slovak Trade Union Council. Paragraph 8 (2) and (4) to (6) shall apply mutatis mutandis to the Regional Director.
The various sections of the insurance business are managed by the directors. The Director shall be appointed and relieved by the Director, with the approval of the Ministry of Finance, after hearing the Central Authority of the Single Trade Union Organisation. Paragraph 8 (6) shall apply mutatis mutandis.
It shall be signed as an insurance undertaking by the addition of its signature to the name of the insurance undertaking by the manager or his deputy. The right of other employees to sign for an insurance undertaking shall be governed by the Statute (Section 19).
Insurance employees.
(1) The employment and wage ratios of the employees of the insurance company are governed by the rules applicable to employees covered by the Act on State Labour Policy.
(2) Save as otherwise provided for in this Act or in the Regulations which it deems necessary, the staff of the insurance undertaking shall be recruited and assigned to the posts after consultation of the race council. Their release requires the consent of that authority.
Property ratios of the insurance company.
(1) The assets of the insurance undertaking are the property of the State and constitute special-purpose assets to cover the insurance and other obligations of the insurance undertaking and to cover its reserve fund.
(2) The property books, official registers or lists shall be registered as the owner of the property or the right held by the insurance undertaking in the management, the Czechoslovak State, marked by the insurance undertaking.
(3) National property management can be waived only if its assets are supplemented by values determined by the Ministry of Finance.
(1) The insurance undertaking must not dispose of or burden the immovable property entrusted to it in the management. Negotiations that oppose this ban have no legal consequences.
(2) Exemptions from the prohibition of disposal and loading provided for in paragraph 1 are permitted by the Ministry of Finance.
(1) Only the assets entrusted to the undertaking by the undertaking may be satisfied for its liabilities.
(2
Insurance management.
(1) The insurance undertaking and its employees must conduct an effort to fulfil the tasks assigned to them as economically as possible.
(2) The insurance undertaking is obliged to organise its activities in such a way as to provide the widest possible insurance protection and to participate as effectively as possible in the management of the activity of the company.
(1) The Statute (§ 19) determines which reserves are to be made up of insurance companies to cover insurance contract liabilities.
(2) The insurance undertaking shall establish a reserve fund equal to the average of the annual premiums on property and accident insurance over the last three years.
(3) The provisions of Section 8 of Act No. 104 / 1950 Coll., on the financing of national and municipal enterprises, apply to the use of the profit of the insurance company.
(1) According to the guidelines, the Regional Institute keeps accounting records of the results of its activities in Slovakia and draws up partial accounts.
(2) By 31 May each year, the insurance undertaking shall submit to the Ministry of Finance the accounts and the annual report for the previous calendar year for approval.
Insurance policy.
The Government shall issue a statute of an insurance undertaking in which, in particular, the organisation, tasks and content of the business and management of the insurance undertaking, details of the senior management and supervision of the insurance undertaking, and the extent of the powers and responsibilities of directors shall be further regulated. The Statute may entrust more detailed provisions to general legislation.
Security.
(1) The reinsurance undertaking operates according to its statutes The first Czech reinsurance bank, a joint stock company in Prague ("the reinsurance company ').
(2) The Ministry of Finance shall issue rules for the operation and management of reinsurance activities.
(3) The reinsurance undertaking shall submit to the Ministry of Finance, by 30 June each year, the accounts and the annual report for the previous calendar year for examination.
Common and final provisions.
(1) The insurance company is subordinate to the management and supervision of the State carried out by the Ministry of Finance.
(2) The Ministry of Finance shall in particular:
(a) ensure that the undertakings of the insurance undertaking are permanently fulfilled;
(b) approve the documents and principles under which the insurance undertaking negotiates the insurance, and, if the general interest so requires, to amend those documents and principles with effect and for valid insurance;
(c) issue essential guidelines and guidelines for the business of the insurance undertaking;
(d) revise the activities of the insurance undertaking;
(e) to pursue the interests of policy holders.
(3) The Ministry of Finance shall supervise the reinsurance undertaking, issue guidelines and guidelines for its activities, ensure that its liabilities are fulfilled and revise its activities. In order to exercise supervision over a reinsurance undertaking, the Ministry of Finance may appoint a representative to its cargo and determine its rights and obligations.
(4) The Ministry of Finance oversees the nationalized insurance institutions until they have been implemented under Section 4 of Act No. 95 / 1950 Coll., which regulates certain insurance conditions.
(1) The authorisation of the Ministry of Finance is required for insurance or reinsurance mediation. Trade authorisations of physical persons to provide insurance or reinsurance shall cease from the date of the entry into force of this Act.
(2) The Ministry of Finance oversees insurance or reinsurance intermediation, as well as undertakings whose activity is mainly insurance or reinsurance mediation.
(1) The shares of the reinsurance undertaking are transferred to the State from the date of the entry into force of this Act. Deposits according to the decree of the President of the Republic No. 95 / 1945 Coll., on the deposit and other cash claims of monetary institutions as well as life insurance and securities, and owners of shares deposited abroad are obliged to withdraw these shares to the Czechoslovak State Bank within 60 days of the entry into force of this Act. The owners of the shares paid are entitled to compensation, for which the provisions of Sections 18 to 22 of Decree No. 103 / 1945 Coll.
(2) Shares which are not paid under paragraph 1 shall cease to be valid and the reinsurance undertaking shall issue new shares for them to the State.
(1) All provisions contrary to this law, in particular:
1. § § 115a to 115u of the Trade Code,
2. Law No 42 / 1873 of the Czech Republic on the authorisation of foreign insurance companies to operate business,
3. Law No 202 / 1892 of the Council of the European Communities on the Registered Auxiliary Treasuries, and its amendments,
4. Section A of Regulation No 31 / 1896 on the establishment, establishment and management of insurance undertakings, and its amendments,
5. Government Decree No 321 / 1919 Coll., amending, in the case of the case, certain provisions of the Ministerial Decree of 5 March 1896, No 31 (Insurance Regulatory),
6. Government Decree No. 505 / 1920 Coll., amending Section 5 of the Insurance Regulatory Act,
7. Act No. 65 / 1922 Coll., supplementing and amending the existing regulations on insurance undertakings,
8. Section A of Decree-Law No 307 / 1922 Coll., on the Establishment, Establishment and Management of Private Insurance Companies in Slovakia (Insurance Regulatory),
9. § § 163 to 181 of the Trade Act,
10. Government Decree No. 30 / 1939 Coll. on the curatorial administration of certain private insurance companies operating in Slovakia,
11. Government Decree No. 408 / 1940 Coll., on certain measures concerning competition in private insurance,
12th Decree No. 278 / 1940 Coll. on the taking-over of insurance by foreign private insurance companies as well as insurance by certain domestic private insurance companies by other domestic private insurance companies,
13th Decree No. 279 / 1940 Coll., on the limitation of the conclusion of insurance contracts with policyholders of other private insurance undertakings,
14. the Decree with the power of Act No. 281 / 1940 Coll. of which is partly supplemented by the Act on the security of claims of policyholders in private insurance and on State supervision of private insurance undertakings,
15. Articles III to VI of Decree-Law No 331 / 1942 Coll., supplementing and amending certain provisions on insurance undertakings,
16. Section II of Decree No. 103 / 1945 Coll.,
17th Government Decree No 215 / 1946 Coll., implementing certain provisions of the Decree of the President of the Republic of 24 October 1945, No. 103 Coll., on the nationalisation of private insurance companies,
18th Government Decree No. 48 / 1949 Coll., amending certain provisions of the implementing provisions of the President's Decree on the nationalisation of private insurance companies.
(2) The date to be determined by the Order by the Minister for Finance shall be deleted:
1. Sections B, C, D and E of Regulation No 31 / 1896, and the provisions are amended and supplemented;
2. Regulation No 521 / 1917 establishing certain amendments to the Regulation of 5 March 1896, No 31 on the establishment, establishment and management of insurance undertakings ("insurance regulatory").
3. Government Decree No. 238 / 1921 Coll., supplementing the rules on insurance regulations on the deposit of capital of insurance undertakings,
4. Sections B, C, D and E of Decree-Law No 307 / 1922 Coll.,
5. Act No. 147 / 1934 Coll., on the security of claims of policy holders in private insurance and on State supervision of private insurance companies,
6. Articles I and II of Decree-Law No 331 / 1942 Coll.
This Law shall take effect on 1 January 1951; it shall be implemented by the Finance Minister in agreement with the participating members of the Government.
Gottwald v. r.
Dr John v. r.
Zaporocký v. r.
Cable v. r.
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Regulation Information
| Citation | Act No. 190 / 1950 Coll., on Tasks and Organisation of Insurance |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 28.12.1950 |
|---|---|
| Effective from | 01.01.1951 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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