2000-07-28 | A 3141

Added · Updated

Ref. LISOL 1 - 306. RUNOR 1 - 395. Guarantees or sureties granted by reciprocal guarantee societies and provincial funds. Treatment as preferred guarantees "A". Update of ordered texts

Reciprocal guarantee societies and provincial funds must maintain a risk fund equal to 25% of granted sureties, invested in assets under Law 24.241 with up to 100% in time deposits, and held in custody by banks rated AA or superior. Individual surety limits per partner cannot exceed 2.5% of the risk fund, and sureties are prohibited with linked partners. These entities must register with the Superintendence of Financial and Currency Entities, report debtor classifications to the Central of Debtors, and classify credit card users or fiduciary trust debtors according to consumer or housing portfolio norms.

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