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Ethiopian Federal Laws
Go to Laws Index
Title:
Civil Code As Amended
Proclamation No.:
639/2009
Jurisdiction:
Federal
Law Type:
Proclamation
Country:
Ethiopia 🇪🇹
Format:
PDF (
Amharic and English
)
Unit Price nUT 80001 nUT nUT nUT nUT FEDERAL NEGARIT GAZETA OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA yZB MKR bT yw xJ CONTENTS 639/2009 Civil Code Proclamation 4748 xJ X $5 1111. . . . 2222. . . . 639/2009 A PROCLAMATION TO PROVIDE FOR THE AMENDMENT OF THE CIVIL CODE WHEREAS, the formality provided under the Civil Code for the conclusion of mortgage contracts is exerting negative impact on the efficiency of loan provision service which is the day-to day activity of banks and micro-financing institutions; WHEREAS, the invalidation of existing contracts of mortgage concluded under the prevailing practices of banks and micro-financing institutions for not being notarized, as provided for by the Civil Code, may leave most of the existing loans unsecured with a serious threat to the existence of the banks and the micro- financing institutions and to the countrys overall economy; 55 of the Constitution of the Federal Democratic Republic of Ethiopia it is hereby proclaimed as follows: Short Title This Proclamation may be cited as the Civil Code As Amended Proclamation No. Amendment The following new sub-article is added under Ethiopian Civil Code. $6 qN 46 2009
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