Putin signed a law on insurance of small business deposits in banks

Putin signed a law on insurance of small business deposits in banks

President of Russia Vladimir Putin signed a law that, from January 1, 2019, extends the insurance system in banks to cash funds of small and microenterprises. The relevant document was published on the official portal of legal information. Advertising

According to the text, a representative of a small or microenterprise has the right to receive an insurance payment in the event of bankruptcy of a credit institution, if it was listed in a single register of small and medium-sized businesses during the occurrence of the insured event. In this case, the exclusion from the register after the insured event does not affect the right to receive payment. As noted, the amount of insurance compensation is similar to reimbursement for individuals.

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