Where the constitution or the realization of a security results in a transfer of the property to the surety agent, the property so transferred shall form part of the capital allocated for his mission and shall be kept separate from his personal estate. The same shall be for payments received by the agent in the course of his mission.
Subject to the eventual exercise of the creditor’s right to pursue the debtor’s property and, outside the cases of fraud, such property may be seized only by the holders of claims arising from the preservation and management of the said property including collective proceedings for the discharge of debts against the surety agent.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 8
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 9 of the Acte uniforme révisé portant organisation des sûretés/akn/ohada/act/loi/2010-12-15/aus-2010
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