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On introduction amendments and additions to the Law of the Republic of Uzbekistan “On pledge”

Law of the Republic of Uzbekistan On pledge

I. GENERAL PROVISIONS

Article 1. The concept of pledge

Article 2. Legislation on pledge

Article 3. Grounds for the emergence of a pledge

Article 4. Types of pledge

Article 5. Subject of pledge

Article 6. Claims secured by pledge

Article 7. Pledge of property or rights held jointly by several persons6

Article 8. Pledger and pledge holder

Article 9. Emergence of a pledge right

Article 10. Content of a pledge agreement

Article 11. Form of the pledge agreement and its registration

Article 12. Insurance of the pledged item

Article 13. Replacement and restoration of the subject of pledge

Article 14. Risk of accidental death of a pledged item

Article 15. Subsequent pledge

Article 16. Preservation of pledge upon transfer of rights to pledged property to another person

Article 17. Assignment of rights under a pledge agreement

Article 18. Transfer of a debt under an obligation secured by a pledge

Article 19. Rights of a pledge holder

Article 20. Obligations of the pledge holder

Article 21. Rights of the pledger

Article 22. Obligations of the pledger

Article 23. Consequences of meeting claims of a lender by a third party

Article 24. Termination of a pledge agreement by deposit

Article 25. Consequences of the debtor's failure to fulfill an obligation secured by a pledge of a third party (real guarantor)

Article 26. Foreclose of pledged item

Article 27. Procedure for foreclosing on pledged property

Article 28. Sale of pledged property

Article 29. Acceptance of the pledged property for extrajudicial compensation of the secured obligation

Article 30. Realization of pledged property rights

Article 31. Early performance of an obligation secured by a pledge and foreclosure on pledged property

Article 32. Termination of pledge

II. PLEDGE WITH TRANSFER OF PLEDGED PROPERTY TO PLEDGE HOLDER (DEPOSIT)

Article 33. Concept of deposit

Article 34. Responsibility of the pledge holder for loss or damage to pledged property

Article 35. Pledge of things in a pawnshop

III. PLEDGE WITH LEAVING OF PLEDGED PROPERTY AT THE PLEDGER. PLEDGE ITEM OF GOODS IN CIRCULATION

Article 36. Subject of pledge with the abandonment of pledged property with the pledger

Article 42. Subject of pledge of goods in circulation

IV. PLEDGE OF RIGHTS, SECURITIES

Article 43. Rights as a subject of pledge

Article 44. Consequences of performance by the debtor of obligations to the pledger

Article 45. Pledge of securities

V. GUARANTEES OF THE RIGHTS OF THE PARTIES UNDER A PLEDGE

Article 46. Invariability of a pledge agreement

Article 47. Protection of the interests of the pledge holder upon termination of his/her rights and the rights of the pledger to pledged property on the grounds provided by law

Article 48. Protection by the pledge holder of his/her rights to the subject of pledge

VI. PLEDGE IN INTERNATIONAL CIRCULATION

Article 49. Legislation applicable to a pledge agreement

Article 50. Sale of pledged property at auctions outside the Republic of Uzbekistan

Act on the state 03.06.1998
Go to the current version
In case of a deposit, in addition to the specified rights in the first part of this article, the pledge holder has the right to:
When pledging goods in circulation, except for the rights specified in parts one and three of this article, the pledge holder shall have the right to suspend transactions with goods in circulation until the violation is violated by the pledger violating the conditions by superimposing its signs and seals (if there are seals) on the pledged goods.
at any time prior to the sale of the subject of pledge or the exercise of pledged property rights, which are foreclosed in accordance with article 26 of this Law, terminate foreclosure on them, having fulfilled the obligation secured by the pledge or that part of which the performance of which has expired;
When pledging goods in circulation, except for the rights specified in the first and third parts of this article, the pledger has the right to change the composition and the natural form of the pledged goods in circulation, provided that their total value does not become less than that specified in the pledge agreement.
When pledging goods in circulation, in addition to the obligations specified in the first and second parts of this article, the pledger has the right to keep special records of transactions with the pledged goods.
Unless otherwise provided by agreement with the pledge holder, the rules provided for in the fourth part of this article shall apply to the assignees of the pledger in relation to the pledged rights.
The sale (sale) of pledged property, which is foreclosed in accordance with article 26 of this Law, is carried out by public sale in the manner prescribed by law.
The separable fruits may be subject to the pledge specified in the first part of this article, provided that they do not become the object of the rights of a third party from the moment of separation.
The provisions provided for in the first part of this article shall apply in the event of the termination of the right of ownership of the pledged property or the termination of the pledged rights in connection with a decision of a state body not aimed directly at the seizure of the pledged property or pledged rights, including in connection with the decision on the seizure of land the plot on which the pledged real estate is located.
Losses incurred by the pledge holder as a result of the issuance of the acts referred to in the first part of this article shall be compensated in full by the relevant government body or local government authority.

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