Republic of Armenia: Law on Attracting Deposits

This law intends to establish unilateral procedures and conditions for attracting bank deposits from households and related consumer rights. This law consists of the following articles:

• Article 1: The Subject of Regulation of the Law
• Article 2: Main Concepts Used in the Law
• Article 3: Information Subject to Public Disclosure
• Article 4: Information Bulletins
• Article 5: Provision and Public Disclosure of Informational Bulletins
• Article 6: Account Statements
• Article 7: Calculation Percentage
• Article 8: Limitation on Use of Phrase “"Fee Free”"
• Article 9: Communication of Bank and Depositor
• Article 10: Protection of Depositor Rights through Court, Arbitrage and by Financial System Conciliator
• Article 11: Bank's Liability
• Article 12: Bank's Liability Towards Depositor
• Article 13: Control over Fulfillment of Provisions of this Law
• Article 14: Transitional Provisions