Where a debtor either by agreement or by the laws of each State Party or by a court decision shall provide a surety, the said surety shall be resident or choose an address within the area of jurisdiction of the court of the place where he shall be needed unless the said requirement is waived by the creditor or the competent court.
The said surety shall show proof of solvency which shall be assessed taking into account all the elements of his estate.
The debtor who cannot find a surety may in replacement thereof provide real security of a value acceptable to the creditor.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 10
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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Section 15 of the Acte uniforme révisé portant organisation des sûretés/akn/ohada/act/loi/2010-12-15/aus-2010
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