The Constitutional Court considered the possibility of application of Article 746 of the Civil Code of the Republic of Azerbaijan on the Consumer Loans
The Constitutional Court considered the possibility of application of Article 746 of the Civil Code of the Republic of Azerbaijan on the Consumer Loans

The next open court session of the Plenum of the Constitutional Court of the Republic of Azerbaijan was held on the basis of special constitutional proceedings chaired by Farhad Abdullayev.

 

The Constitutional Court considered the possibility of application of Article 746 of the Civil Code of the Republic of Azerbaijan on the consumer loans by the request of Nasimi District Court.

 

According to the decision, Article 746 of the Civil Code of the Republic of Azerbaijan is applied to consumer loans. In accordance with the requirements of this article and the description-reasoning part of this Decision, the bank (lender) may refuse to grant a loan if the deterioration of property condition of another party may cause danger of loan’s non-repayment. 

 

The decision is final, cannot be cancelled, altered or officially interpreted by any authority or person.

Related Posts

The Labor Code of Azerbaijan amended

The Labor Code of Azerbaijan amended

The Labor Code of Azerbaijan amended

May 24, 2021
Regulations on the currency control in Azerbaijan simplified

Regulations on the currency control in Azerbaijan simplified

Currency control and foreign-exchange regulations are simplified in Azerbaijan. The amendments pr...

Feb 21, 2020
Business Trip Regulations Amended 

Business Trip Regulations Amended 

Employee Business Trip Regulations adopted by the Ministry of Finance on 18 January 2012  ("Busin...

Oct 24, 2024
New Employment Rules in Azerbaijan

New Employment Rules in Azerbaijan

The "Rules of control in the field of employment" has been approved by the Cabinet of Ministers o...

Sep 13, 2019