Act No. 82 / 1966 Coll.
Insurance Act
Valid
Effective from 01.01.1967
82
THE LAW
of 25 October 1966
on insurance
The National Assembly of the Czechoslovak Socialist Republic decided on this law:
State Insurance Company
Legal status
(1) The State Insurance Company is a State Economic Organisation.
(2) The State is responsible for the insurance undertakings only if they are explicitly taken over. The Minister of Finance shall decide on the takeover.
(1) The Head of the State Insurance Company is the Director-General, who manages its activities and acts on its behalf in all matters. The Secretary-General of the State Insurance Corporation shall be appointed and withdrawn by the Minister of Finance.
Subject matter of business
(1) The State Insurance Corporation is subject to the exclusive right to pursue contractual and statutory insurance of assets, persons and liability for damages, including insurance arising from international trade, as well as to pursue reinsurance activities.
(2) In the course of the insurance operation, the State Insurance Corporation shall also carry out damage prevention activities, in particular by cooperating with the authorities involved in the damage control and providing financial contributions to the measures taken.
Organisation
(1) The State Insurance Corporation carries out its activities by the Directorate-General and the organisational components designated by the Organisational Regulations.
(2) Organizational items, as laid down in the organisational rules, shall be entered in the company register as split plants. their directors shall be entitled, on behalf of the State Insurance Corporation, to do all legal acts relating to the organisational component.
Details of the internal organisation State insurance undertakings shall lay down its organisational rules; issued by the Director-General of the State Insurance Corporation. In particular, the organisational arrangements shall define the scope of the activities of the different organisational components and the relationships between them.
Funds and reserves
(1) To cover the fluctuations in the results of the insurance and reinsurance activities of the State Insurance Corporation, its basic reserve is used.
(2) In order to cover the insurance obligations of persons due in the future, the State Insurance Corporation is required to create a provision of insurance premiums.
(3) The Minister of Finance may impose on the State Insurance Corporation what other similar funds (reserves) are obliged to create.
(4) The amount of the basic reserve shall be determined by the Minister for Finance, who shall also adjust the details of the creation, use, replenishment and control of the basic reserve and of the funds (reserves) created pursuant to paragraphs 2 and 3.
Paragraph 7 is without prejudice to the obligation to: State insurance companies establish funds in accordance with the general rules applicable to state economic organisations.
Rates of premiums
The Ministry of Finance shall determine the premium rates for statutory insurance and the general policy principles for determining the premium rates for contractual insurance; the premium rates for contract insurance are determined by the State Insurance Company.
Transitional and final provisions
A state insurance company organised under the current rules is converted into an undertaking under this law.
This law shall not affect:
1. sickness and social security provisions;
2. provisions on statutory liability insurance for damage caused by the operation of motor vehicles.
They shall be deleted:
1. Act No. 85 / 1952 Coll., on Insurance,
2. provision of the sentence of the second § 359 Economic Code No. 109 / 1964 Coll.
This Act shall take effect on 1 January 1967.
Novotný v. r.
Laštovka v. r.
Lenárt v. r.
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Regulation Information
| Citation | Act No. 82 / 1966 Coll., on Insurance |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 08.11.1966 |
|---|---|
| Effective from | 01.01.1967 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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