Ministry of Finance of Azerbaijan to approve liquidation balance of state insurance company
The Ministry of Finance of the Republic of Azerbaijan will approve the liquidation balance sheet of the State Insurance Commercial Company of the Republic of Azerbaijan and the plan for distributing its remaining property, under an order signed by Prime Minister Ali Asadov in Baku on Nov. 3, 2026.
The ministry is to approve the report in line with Article 61.8 of the Civil Code of the Republic of Azerbaijan. It is also to settle other matters arising from the order.
The order, No. 824s, amends the Cabinet of Ministers order of Feb. 6, 2024, No. 95s "On ensuring the implementation of the decree of the President of the Republic of Azerbaijan of Jan. 31, 2024, No. 2459 'On the repeal of the decree of the President of the Republic of Azerbaijan of July 16, 2022, No. 1751 On the organization of the activities of the State Insurance Commercial Company of the Republic of Azerbaijan and the Azersigorta Open Joint-Stock Company'".
Under the amendments, the words "the Ministry of Finance of the Republic of Azerbaijan" are removed from part 2 of the 2024 order in the first instance, that part becomes clause 2.1, and the full stop at its end is replaced by a semicolon. A new part 2 naming the ministry, with clauses 2.2 and 2.3, is added.
The order was issued under the eighth paragraph of Article 119 of the Constitution of the Republic of Azerbaijan and takes effect on the day of its signing.
