Act No. 95 / 1950 Coll.
Law governing certain insurance conditions
Valid
Effective from 01.08.1950
95.
Law
of 12 July 1950
adjusting certain insurance conditions.
The National Assembly of the Czechoslovak Republic decided on the following Act:
Adjustment of the ratios of the national insurance, domestic insurance institutions of foreign insurance companies and of the ratios of associations and establishments engaged in or related to insurance activities.
(1) The Regional Insurance Fund in Prague and the Pension Fund of Craft at the Central Union of the Czechoslovak Craft in Prague are merged with the Czechoslovak Insurance Company, the National Insurance Company (hereinafter referred to as the Insurance Company), on the date and under the conditions laid down by the Ministry of Finance; in the case of a merger, the Ministry of Finance may also adjust or amend the commitments of these institutions.
(2) When the commitments referred to in paragraph 1 are changed, the insurance undertaking may pay the contributions at the place of pensions of a small amount which are granted by the institutions which are merged with it; Directive for the granting of severance grants shall be laid down by the Ministry of Finance.
The exercise of supervision of nationalised institutes which insure benefits similar to those of national insurance, with the exception of those referred to in § 1, shall be transferred to the Ministry of Labour and Social Welfare.
(1) The rights and obligations of Star Insurance shall be adjusted in accordance with paragraphs 2 to 5 and § 6. Following adjustments under these provisions, Star Insurance Corporation shall merge with the Insurance Company on a date and under the conditions laid down by the Ministry of Finance.
(2) Claims against the Czechoslovak assets of Phoenix, a life insurance company in Vienna, arising for reasons other than insurance contracts and claims under Article II (3) of Decree-Law No 56 / 1937 Coll., on the adjustment of the conditions of the Czechoslovak state of insurance of Phoenix, the life insurance company in Vienna, and certain related issues, cease without compensation.
(3) Bonds issued pursuant to Article II (20) (1) of Decree No 56 / 1937 Coll. shall cease to be valid without compensation and shall be paid in accordance with the instructions of the Ministry of Finance. The balance of the proceeds of the contributions referred to in Article II (21) of that Regulation shall be transferred to Star Insurance.
(4) Without compensation, the claims arising from life insurance from which, as an insurer, the Insurance Star is obliged, if the beneficiary is:
(a) National Recovery Fund under confiscation rules;
(b) Currency exchange fund because the life insurance was not registered under 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, or because the claim was forfeited under § 76 (5) of Act No. 134 / 1946 Coll., on the benefit of the property increase and on the levy on property, as amended by Act No. 68 / 1949 Coll., amending and supplementing certain provisions of the Act on the benefit from the property and the levy on property.
(5) For all capital insurance for one-off insurance and for capital insurance for which the payment of the premium was stopped or terminated before 21 April 1937, if it was agreed by the same policyholder with Phoenix, the life insurance company in Vienna, the Directorate of the Czechoslovak Republic, a maximum amount of CZK 50,000 may be provided together at the maturity of the insurance amounts, including amounts paid before the application of this law; for the exhaustion of that amount, the timing of the repayment of the insurance amounts of each insurance. Entitlements exceeding that threshold shall cease without compensation.
National insurance institutions which have their head office in the Czech Republic and which are not subject to the provisions of § § 1 to 3 shall be merged by or under the authority of the Ministry of Finance with the insurance undertaking; the method of liquidation, in particular the manner and extent of satisfaction of policy holders and creditors, shall be determined by the Ministry of Finance. The proceeds of the liquidation will go to the Liquidation Fund.
(1) The Minister of Finance shall order the insurance undertaking to enter into the rights and obligations arising from domestic insurance from which insurance undertakings are obliged as insurers and shall define in detail these insurance policies by means of a regulation. order an insurance undertaking which, for reasons other than insurance contracts, satisfies the claims of domestic creditors against insurance undertakings established abroad and establishes the manner and degree of satisfaction. The insurance undertaking shall not enter into the liabilities of foreign-based insurance undertakings where the National Recovery Fund is authorised under the confiscation rules or the Monetary Liquidation Fund under the rules referred to in Article 3 (4) (b).
(2) The Ministry of Finance shall transfer to the insurance undertaking from the total Czechoslovak assets of all insurance undertakings located abroad (paragraph 1) the payment of the value of their obligations in which the insurance undertaking enters into. If the assets in question are not sufficient to cover the value of those liabilities, the deficit shall be borne by the insurance undertaking; If the property remains, the surplus of the Liquidation Fund will be the currency.
(3) The Czechoslovak assets of foreign-based insurance companies (paragraph 2) also include the compensation provided by the Liquidation Fund for claims on central insurance institutions in Germany, Austria and Hungary to supplement the reimbursement of liabilities from domestic insurance states (§ 2 No 3 of Act No. 141 / 1947 Coll., on the Currency Liquidation Fund).
(1) National institutes which will be merged with the insurance company are not subject to a special tax on earnings, including the tax liability under Article 1 of Act No 307 / 1948 Coll., on certain measures in the field of direct taxation. Payments made to these tax obligations shall not be refunded.
(2) If, within three months of the entry into force of this Act, no insurance is paid to the insurance undertaking due on that date for insurance with a national institution or with an insurance undertaking established abroad, the insurance against damage and accidents and life insurance is cancelled on the date on which the insurance was paid, unless the insurance company agrees with the policy holder on the continued duration of the insurance. A reminder pursuant to § 29 (1) of Act No. 145 / 1934 Coll., on an insurance contract, is not necessary. In the case of Star Insurance, the provisions of this paragraph shall apply only to insurance contracts which, at the time of infreedom, belonged to insurance conditions in the border.
(3) Claims for reasons other than insurance contracts against foreign-based insurance undertakings cannot be satisfied by their Czechoslovak assets pursuant to Paragraph 5 (1), unless they are notified in writing to the Czechoslovak Insurance Company, a national undertaking, within a month of the entry into force of this Act. At the time of the declaration of entitlement, either the reason for the claim is established. There is no need to report claims which the managers of Czechoslovak assets of foreign-based insurance companies have recognised in writing.
The associations and establishments engaged in or related to the insurance activity which are not constituted under insurance legislation or which do not provide benefits similar to those of national insurance benefits are obliged to cease that activity at the order of the Ministry of Finance, given in agreement with the Ministry responsible. Paragraph 1 and 4 shall apply mutatis mutandis to the liquidation and adjustment of liabilities arising from this activity.
The entries in the public books and registers required to indicate the changes caused by the measures under this Act and under the Decree of the President of the Republic No. 103 / 1945 Coll., on the nationalisation of private insurance companies (hereinafter referred to as the "Decree ') shall be carried out by the courts, acting on a proposal from the insurance undertaking, with reference to this Act. This provision shall apply mutatis mutandis to entries in other registers and lists kept officially.
Adjustment of the working conditions of the employees of the insurance company and the First Czech Reinsurance Bank.
(1) By the end of 1952, the Ministry of Finance, in agreement with the Ministry of Labour and Social Welfare and after consultation with the Central Council of Trade Unions, will review the commitments of the insurance undertaking and the First Czech Reinsurance Bank (hereinafter referred to as "Reinsurance") from all employment (service) contracts as well as the rest and provision benefits or pension pensions paid out from the funds of the insurance and reinsurance undertaking, or from pension overcompensation facilities for their employees.
(2) If the obligations arising from the employment (service) contracts are not in accordance with the principles of uniform wage policy and the needs of the insurance or reinsurance undertaking, the Ministry of Finance shall order that, if no agreement is reached, the employment (service) contracts be terminated with legal notice. There is no need for the approval of the District National Committee.
(3) Inappropriately high rest benefits and provision benefits or pension pensions paid from the insurance or reinsurance undertaking's funds or pension facilities for their employees may be reduced to an appropriate level by order of the Ministry of Finance.
Adjustment of remuneration for insurance mediation.
(1) Claims against the insurance undertaking and the national institutes on remuneration of any kind for brokerage, acquisition and maintenance of insurance, in particular claims on commissions and entitlements derived from such activities or remuneration (payable, after severance, paid in one lump sum or in instalments repayable and under.) and claims arising from such claims are cancelled without reimbursement on a date and to the extent specified by the Ministry of Finance.
(2) In cases of social justification, the insurance undertaking or the nationalised institution may provide compensation for the cancelled claim up to its value under the directives issued by the Ministry of Finance in agreement with the Ministry of Labour and Social Welfare and after consultation with the Central Council of Trade Unions.
Withdrawal of former officials' claims on remuneration.
Entitlements for remuneration, compensation for expenses, travel allowances, representation marks and salaries of a similar kind acquired by officials of insurance institutions (reinsurance undertakings) under their statutes or as decided by the institutions' authorities or by custom, shall cease to be met without compensation if they have not been satisfied in the application of this Act, even in advance. The provisions of the preceding sentence shall also apply to claims for the performance of duties before the Decree is effective, as well as to the claims of the holders concerned.
Compliance with cash obligations under insurance contracts denominated in Reichsmark.
(1) The borrower is obliged to fill the cash obligations of domestic insurance denominated in the Reichsmark on 1 August 1945 in the Czechoslovak crowns in ratio 1 Reichsmark = 10 Czechoslovak Crowns, except in the cases referred to in paragraph 2. The Minister of Finance shall determine by regulation which insurance shall be considered domestic within the meaning of the preceding sentence.
(2) The Minister of Finance is hereby authorised to determine, by decree, how the financial liabilities from domestic insurance agreed in Czechoslovak crowns, which were converted into Reichsmark in proportion to 1 Czechoslovak koruna = 12 Reichsbad.
(3) There shall be no entitlement to interest on late payments for non-compliance with insurance obligations referred to in paragraphs 1 and 2 which were due before the application of this Act.
(4) The insurance reserves according to the condition on 31 December 1945 relating to insurance with full coverage of the Reichsmark which is not carried out in the Czechoslovak crowns under this paragraph shall be reduced by the claim of the insurance undertaking and the national institution for the Liquidation Fund.
Removal of shares in life insurance surpluses.
The arrangements in life insurance policies which guarantee the policyholders a share of the surplus (profit) shall be cancelled without compensation on 1 January 1945 for insurance already valid on that day and from the outset for contracts concluded later. Shares in surpluses that were paid before the Act was effective shall not be refunded.
Reimbursement of interest losses on life insurance.
(1) The Minister of Finance is hereby authorised to pay and to avoid losses incurred by the institutions carrying out life insurance by making the average return on their assets less than the interest rate taken on the basis of the calculation of the insurance premiums and life insurance reserves agreed before 28 February 1947, by the Regulation to adjust the amount of the performance of those insurance contracts by increasing the premiums or reducing the amount of the insurer's performance.
(2) The provisions of paragraph 1 shall apply mutatis mutandis to accident insurance for one-off premiums and to accident insurance, subject to the reimbursement of normal premiums.
Cancellation of sickness insurance contracts.
The sickness insurance contracts in force with the insurance undertaking shall expire on the last day of the period for which the insurance was paid before the application of this Act. However, the insurance undertaking shall provide insurance premiums under the insurance accident contract prior to the loss of insurance.
Relief from the requirements of proposals and insurance policies.
The application made by the insurer for the insurance contract arrangement is binding, even if it does not contain general insurance conditions, and the insurance contract instrument may not contain general insurance conditions if the conditions have been published in the relevant official document. However, both in the proposal and in the policy must be made aware of the general insurance conditions published.
Cancellation of certain fees and taxes on fire protection.
(1) Regulation No 280 / 1915, Regulation No 280 / 1915 of the European Parliament and of the Council, on the fees of insurance contracts, life insurance contracts and reinsurance contracts, and of Article VIII / 1883, on charges of insurance contracts and similar contracts, as amended by the Regulations, is changing and complementary, as well as Act No 79 / 1935 Coll., on the fire-fighting allowance for fire insurance; the applicability of the Government Decree No. 31 / 1942 Coll., on Fire Tax. In agreement with the Ministry of Finance, the Ministry of Interior will determine how it will be handled with the special-purpose asset (fund) created pursuant to § 7 of Act No. 79 / 1935 Coll.
(2) Payments made in respect of fees and taxes referred to in paragraph 1 shall not be refunded before the date of application of this Act; taxes and charges not paid by that date shall not be levied.
(3) In the case of life insurance concluded on 1 March 1947, the cancellation of the fees referred to in paragraph 1 shall give rise to a right to a reduction in the total salary of the policyholder for insurance, beginning with the next insurance year following the cancellation of the fees; for other insurance, this entitlement does not arise.
Transitional provisions.
The Insurance Board shall be repealed. Her rights and obligations are transferred to the insurance company.
The legal acts, documents and official acts required for the implementation of this Act shall be exempt from taxes, levies and charges.
Final provisions.
Measures taken in accordance with the provisions of this Act before the beginning of its effectiveness shall be deemed to have been taken under the law from the date of the measure.
(1) Validity, after applicability, shall cease to be in breach of this law, in particular:
1. § § 2, 4 and 5 of Government Decree No. 101 / 1936 Coll., on certain measures relating to Phoenix, Life Insurance Company in Vienna, Directorate of the Czechoslovak Republic in Prague, as amended by Article I of Government Decree No. 56 / 1937 Coll., on the modification of the conditions of the Czechoslovak state of insurance of Phoenix, Life Insurance Company in Vienna, and certain related issues;
2. Article II § § 1 to 3 and § 13 to 23 of Decree-Law No 56 / 1937 Coll., on the adjustment of the conditions of the Czechoslovak state of insurance of Phoenix, the life insurance company in Vienna, and certain related issues;
3. Article II, V and VI of Decree-Law No. 135 / 1937 Coll., on certain other adjustments to the conditions of the Phoenix, life insurance company in Vienna, Directorate of the Czechoslovak Republic in Prague;
4. § § 10, 11, 12 and § 14 (1) and Section VI of the President of the Republic No. 103 / 1945 Coll., on the nationalisation of private insurance companies;
5. Government Decree No. 80 / 1935 Coll., implementing Act No. 79 / 1935 Coll., on fire-fighting contributions for fire insurance.
(2) The date to be determined by the Order by the Minister for Finance will cease to be valid if applicable:
1. Government Regulation No. 233 / 1942 Coll., on the Numerous Interest Rate in Life Insurance;
2. regulation of Slovak National Council No. 10 / 1948 Coll. SNR, on interest rate in life insurance.
(3) Furthermore, it will expire if applicable:
1. Government Decree No. 524 / 1920 Coll., authorising insurance undertakings to collect expensive surcharges;
2. Government Order No. 409 / 1940 Coll., on the liability of private insurance companies for war hazards and on the reimbursement of the costs incurred by them from this guarantee and the increased mortality rate during the war, as well as the regulations are changing and complementary;
3rd Government Decree No. 410 / 1940 Coll., on the maintenance of certain life insurance, as well as the regulations is changing and complementary;
4. Government Decree No. 8 / 1941 Coll., supplementing Government Decree No. 214 / 1933 Coll., on custody and administration of judicial and administrative depositions at Postal Savings Office;
5. Act No. 94 / 1943 of the Coll. on the liability of private life insurance companies for war hazards in the armed emergency of the state.
This Act shall take effect on 1 August 1950; 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. 95 / 1950 Coll. |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 25.07.1950 |
|---|---|
| Effective from | 01.08.1950 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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