Law No. 49 “On mortgage”.

This Law establishes the basic provisions on mortgage, including mortgage of land, subsoil, forest, waterbodies and perennial plants, registration of mortgage and registration of rights to mortgaged property. The Act consists of 5 Sections divided into 86 articles: (1) general provisions; (2) types of mortgage; (3) levy of execution to mortgaged property; (4) protection against entrenchment on a right to mortgaged property; and (5) conclusive provisions. Pledgeholders of agricultural land in accordance with mortgage contracts shall be banks and financial and credit institutions licensed by the National bank. Pledgers of agricultural land shall be citizens of Kyrgyzstan that have ownership right to agricultural land.