Law on Crops Insurance.
Country
Type of law
Legislation
Abstract
The purpose of this Act, which consists of a single article and 7 notes, is to establish a Crops Insurance Fund. Although the Fund is constituted as a part of the Agriculture Bank of Iran, it benefits from independent legal and financial personality. The main goal of the Crops Insurance Fund is to insure all agricultural products, livestock, birds, honey bee, silkworm and aquatic animal against various natural disasters including but not limited to flood, drought, hail, earthquake, glacial, fire, pests, quarantine diseases, and infectious diseases. The Board of directors of the Insurance Fund consist of 5 persons and the CEO would be the same person as the CEO of the Agriculture Bank of Iran. There is also a High Council of Crops Insurance which has the responsibility to observe the activities of the Fund as well as provide advisory opinion if necessary.
Attached files
Web site
Date of text
Entry into force notes
The Act enters into force on the date of its promulgation.
Notes
The Act includes Supplementary Provisions as of Act of 2003 and has been amended in 2008.
Repealed
No
Serial Imprint
Official Journal, No. 11188, 26 July 1983.
Source language
English
Legislation Amendment
No