CIVIL CODE OF TURKMENISTAN
                    SAPURMURAT TURKMENBASHI


                            Book 1
                      GENERAL PROVISIONS

                           Chapter 1
                        Main provisions

                           Section 1
                       Civil legislation

Article 1 Basics of commencement of the civil legislation
1.    Civil legislation bases itself on the recognition of  the
  equality of the participants of relations, regulated by it, on
  the inviolability of property, on the freedom of contract, on
  the  inadmissability  of the interruption  into  the  private
  business,  on  the necessity of free exercise  of  the  civil
  rights,  on the restoration of the violated rights and  their
  protection.
2.    Natural  and  legal persons are free in establishment  of
  their rights and obligations on the basis of contract and are
  free in determination of any contract conditions if they do not
  contradict the law.
  Civil  rights may be restricted only on the basis of  law  in
  order  to  protect  the  morals,  health,  rights  and  legal
  interests  of other persons, safety of the society and  state
  and environment.
3.   Goods, services and finances shall have a free circulation
  all over the territory of Turkmenistan.
  Restrictions  on  the  circulation  of  goods,  services  and
  finances may be launched in accordance with the legislation.

Article 2 Relations, which are regulated by the civil
legislation.
1.    Civil  legislation  determines the legal  status  of  the
  participants of the civil relations, the basics of  formation
  and  the  order  of  the exercise of the property  right;  it
  regulates  contract and other types of obligations  and  also
  other property private non-property relations connected  with
  them.
  Family, living, labour relations, the relations on the  usage
  of  natural  resources and on the protection of  environment,
  which  correspond to the characteristics mentioned in  absatz
  1   of   the  present  part,  are  regulated  by  the   civil
  legislation  if  otherwise is not prescribed by  the  special
  legislation.
2.    Relations  that  are  connected  with  the  exercise  and
  protection of the non-alienated rights and freedoms of man and
  with  other non-material wealth, are regulated by  the  civil
  legislation,  since otherwise does not follow  out  from  the
  nature of these relations.
3.    Any natural and legal persons may be the subjects of  the
  civil  relations.  This  rule  applies  to  the  citizens  of
  Turkmenistan,  to  the foreign citizens and  to  the  persons
  without citizenship, who may or may not be involved into  the
  entrepreneurial activity.
4.    The  entrepreneurship is an individual activity performed
  on  its own risk and directed onto the systematic receive  of
  profit  out of the usage of property, intellectual  property,
  sale  of goods or services to the people and out of the  work
  performance.
5.    Civil  legal  relations  between  the  state  bodies  and
  institutions and natural and legal persons are regulated by the
  civil legislation if these relations are not regulated by other
  legislation.

Article 3 Acts of the civil legislation
1.    Civil legislation consists of the present Code and  other
  laws  and  legislative  acts, which  regulate  the  relations
  mentioned in the Article 2 of the present Code.
2.    Legislative acts adopted upon the corresponding laws, are
  applied for the regulation of the civic relations only in cases
  when they do not contradict the law.

Article 4 Validity of the civil legislation through the time
Acts of the civil legislation do not have the reverse force and
are  applied to the relations, which arise after their  launch.
The  force  of the law comprises the relations appeared  before
the  law was launched only when its directly stipulated by  the
law.

Article 5 Customs of the business relations
1.    The custom of the business relation is considered as  set
  and  widely  used  rule of behaviour in  some  field  of  the
  entrepreneurial activity, which (the behaviour - RG)  is  not
  foreseen by the legislation, regardless whether it is fix  in
  some type of a document.
2.    The customs of the business relation are not applied,  if
  they  contradict the obligatory provisions of the legislation
  for the participants of this business relation.

Article 6 Application of the civil legislation on analogy
1.    In cases, when the relations foreseen by parts 1,2 of the
  Article 2 of the present Code are not directly regulated by the
  legislation or by the agreement of the parties and there is no
  applicable  custom of business relation, then they  shall  be
  regulated by the similar norm of the civic legislation (analogy
  of the law), if it does not contradict their nature.
2.   If it not possible to use the analogy of the law, then the
  rights  and obligations of the parties are determined on  the
  basis of common sense of the civic legislation (analogy of the
  law).
3.    The  court  shall not have the right to refuse  in  trial
  procedure on the civil cases, when there is no norm of law or
  it not clear.
4.   The application of the analogy norms, which restrict civil
  rights and establish obligation, is not allowed.

Article 7 Civil legislation and international agreements
If  the  international  agreement of  Turkmenistan  established
other  rules rather than those, which are foreseen by the civic
legislation,  then  the  rules of the  international  agreement
shall apply.


                           Section 2
Appearance of the civic rights and obligations, exercising and
                protection of the civic rights

Article 8 Grounds of appearance of the civil rights and
obligations
Civic  rights and obligations arise out of the grounds foreseen
by  the legislation, and also out of the actions of the natural
and  legal  persons, which are not foreseen by the legislation,
but  due  to  the basics and the sense of the civil legislation
they do create civic rights and obligations.
In accordance with this, civic rights and obligations arise:
  (1)   out  of  the  contracts and other types of transactions
    foreseen by the law, as well as out of the contracts and other
    types of transactions , which are not foreseen by the law but
    do not contradict to it;
  (2)   out of the acts of the state bodies and bodies of local
    governance, which are foreseen by the law as the ground for
    appearance of the civic rights and obligations;
  (3)   out  of  the court decision that has established  civil
    rights and obligations;
  (4)  as the result of formation and acquisition of the property
    on the grounds, which are not restricted by the law;
  (5)   as  the  result of creation of the pieces  of  science,
    literature,  art,  inventions  and  other  results  of  the
    intellectual activity;
  (6)  as the result of damage to another person;
  (7)  as the result of an unjustified enrichment;
  (8)   as the result of other actions of the natural and legal
    persons;
  (9)   as  the  result of events, which are connected  to  the
    occurrence of the civil and legal consequences in the context
    of legislation.

Article 9 Exercising of the civil rights
1.    Natural  and  legal persons at their own  decision  shall
  exercise civil rights, which belong to them.
2.   Refusal of natural and legal persons from exercising their
  rights does not lead to the termination of these rights, except
  for the cases foreseen by the law.
3.     The   subjects  of  the  civil  legal  relations   shall
  conscientiously  exercise their rights and  obligations,  and
  shall not cause damage to other persons by their actions (non-
  actions).
4.    In case of not following the requirements foreseen by the
  part 3 of the present Article , the court may refuse the person
  in protection of his right.
5.    In case, when the law puts the protection of civil rights
  into dependence on the fact whether these rights were exercised
  conscientiously   and   reasonably,   the   conscience    and
  reasonableness of the participants of the civil legal relations
  is to be supposed.

Article 10 Legal protection of the civil rights
1.    Protection  of  the violated or disputable  civil  rights
  shall be performed by the court, wirtschafts court, arbitrage
  (hereinafter – court) according to the institutional order of
  cases,  established by the procedural legislation or  by  the
  contract.
2.    The  law or the contract may foresee the settlement of  a
  dispute between the parties before they apply to the court.
3.   Protection of the civil rights in the administrative order
  shall  be  performed only in cases foreseen by the  law.  The
  decision taken in the administrative order, may be reconsidered
  in the court.

Article 11 Ways of protection of the of the civil rights
Protection of the civil rights is to be performed by means of:
1.   Recognition of the right
2.    Restoration of the situation existed before the right was
  violated,  and  by means of stopping the actions,  which  are
  violating  the  right or which are creating a threat  of  its
  violation
3.   Recognition of the transaction as invalid one and by means
of application of the consequences of its invalidity
4.   Recognition of the invalidity of the state body act or of
the act of the local governance body
5.   Sentencing to performance of the obligation in kind
6.   Self protection of the civil rights
7.   Repatriation (reimbursement) of damages
8.   Vertragsstrafe
9.   Compensation of the moral damage
10.  Termination or modification of the legal relation
11.  Non-appliance of the state body act or of the act of the
local governance body (which are contradicting the law) by the
court
12.  By other means, foreseen by the law

Article 12 Recognition of the invalidity of the act, which is
not corresponding the legislation
Act  of  the  state body or of the body of the local governance
that  is violating the civil rights and the protected interests
of the natural or legal person, is considered invalid since the
moment of its adoption.
In  case where the court recognizes such an act as invalid one,
then  the  violated  right is the subject  for  restoration  or
protection by other means, foreseen by the Article  11  of  the
present Code.

Article 13 Self protection of the civil rights
Self  protection  of the civil rights is to be  admissible  (is
allowed).
Ways  of the self protection shall be in fit with the violation
and  shall not overcome the boundaries (frames) of the actions,
necessary  for  the stoppage in case if the assistance  of  the
competent organs does not come in time.

Article 14 Reimbursement of the damages
1.    The person, whose right is violated, may require the full
  reimbursement of his damages. Refusal from the right to require
  the  reimbursement  of the damages, which  is  based  on  the
  preliminary agreement, is not allowed.
2.    Damages mean the expenses, which the person, whose  right
  is  violated,  has made and would have to make  in  order  to
  restore the violated right; it means the loss or the damage of
  his  property (real/actual damage), and also the non-received
  profits, which this person would receive upon the conditions of
  a  usual  civil relation, if his right wouldn’t  be  violated
  (missed/lost profit).
  
  If  the  person,  who  has violated the right,  has  received
  profit  resulted out of this action, then the  person,  whose
  right   is   violated,  shall  have  the  right  to   require
  reimbursement  (along with other damages) of the  missed/lost
  profit amounted not less than such a profit would be.

Article 15 Protection of the personal non-property rights and
other non-material wealth
Personal non-property rights and other non-material wealth  are
protected  in  cases and in order foreseen by the present  Code
and  by other laws, as well as in those cases and within  those
boundaries,  where the usage of the ways of protection  of  the
civil rights falls out of the nature of the violated right  and
out of the character of the consequences of this violation.

Article 16 Protection of honor, dignity and entrepreneurial
reputation
1.    Physical  or legal entity shall have right to require  on
  court  proceeding  to disprove information  discrediting  his
  honor,  dignity  or  entrepreneurial reputation,  if  person,
  spreading  the  information, does not prove that  information
  corresponding reality.
2.    On  the  requirement of interested persons, it  shall  be
  allowed  protection of honor and dignity of  physical  person
  after his death.
3.     If  the  information,  discrediting  honor,  dignity  or
  entrepreneurial reputation of physical or legal entity shall be
  spread in mass media, they must be disproved in the same mass
  media.
4.      If  pointed  information  is  in  documents  issued  by
  organization, such document shall be change or revoke.
5.    Disprove  order  in other cases shall be  established  by
  court.
6.    Physical or legal entity, with respect to which  in  mass
  media  were published information, damaging their  rights  or
  interests  protected by law, shall have right to publish  his
  answer in the same mass media.
7.   If court decision is not fulfilled, court shall have right
  to  impose  a penalty on infringer, fined in rates and  order
  stipulated by procedural legislation, to State. The payment of
  penalty  shall  not  free the infringer from  fulfillment  of
  actions stipulated by court.
8.    Physical or legal entity, with respect to which it  shall
  be  spread  information discrediting his  honor,  dignity  or
  entrepreneurial reputation, shall have right, with disproving
  the  information, to require the compensation  of  costs  and
  compensation of moral damage, because of their spread.
9.    If  it is impossible to fix person spreading discrediting
  honor,  dignity or entrepreneurial reputation of physical  or
  legal  entity,  the  person,  with  respect  to  which   such
  information was spread, shall apply for court with application
  on recognition of spread information not due to reality.

Article 17 Protection of rights on proper portrayal
No  one  shall  have  right  to publish  and  spread  published
portrayal  of any person without approval of this person.  Such
approval  shall  not be required in cases when  publishing  and
spreading of portrayal is connected with requirements of court,
organs of investigating, when taking a picture or obtaining  of
portrayal  is produced in public circumstances, as well  as  in
other cases stipulated by law.
Approval  of  person  for  publishing  and  spreading  of   his
portrayal shall be supposed, if portrayed person posed for fee.

Article 18 Right for protection of private life secret
1.    Natural person shall have right for private life:  secret
  of  correspondence,  notes,  records,  private  life,  birth,
  adoption, medical or legal secrets, secret of contribution and
  e.t.a.
   Recovering of private life secret shall be possible only  in
cases, stipulated by law.
2.    Publishing of notes, records and notes shall be permitted
  only author approval, and of letters – with approval of author
  and  addressee. In case of death of anyone of them, mentioned
  documents can be published with approval of living spouse and
  children  of  dead person, and in further – with approval  of
  generation in the line of descent.


                           Chapter 2
                           Entities

                           Section 1
                       Physical Entities
                               

Article 19 Definition of the physical entity
Upon  the  physical entities one understands  the  citizens  of
Turkmenistan,  citizens  of  other countries  and  the  persons
without citizenship.

Article 20 Legal ability of the physical entity
1.    The  ability  to  have the civil rights  and  obligations
  (civil  legal  ability) is recognized  equally  for  all  the
  physical entities.
2.    The legal ability of the physical entity appears upon the
  moment of his birth and is terminated upon his death.
3.    The  right  to  be  a  heir appears upon  the  moment  of
  conception; the execution of such a right depends on birth.

Article 21 The name of the physical entity
1.    The physical entity acquires and executes the rights  and
  obligations under its name which shall include last name  and
  first name and also upon the will of the person, the patronymic
  if  otherwise is not derived from the legislation or national
  custom.
  In  certain  cases and in order foreseen by the  legislation,
  the physical entity may use the pseudonym (an assumed name).
2.    The  physical entity shall have the right to  change  his
  name in order imposed by the legislation. The changing of the
  name  by the physical entity shall not be the ground for  the
  termination or changing of his rights and obligations acquired
  by his previous name.
  The  natural  person  have to submit  the  new  name  to  its
  creditors.
  If  the  person  don´t  submit the new name,  the  person  is
  obliged to compensate damages, caused by this.
  The  person can claim, that documents with the old  name  are
  changed on its own costs.
3.   As well as the name as also each alteration of the name is
  to register in the competent register.
4.   Under the name of a different person it is illegitimate to
  acquire rights and duties.

Article 22 Place of Residence
1.   The place of residence of a natural person is the place of
  habitual residence. There may be several places of residence.
2.      Minors  take  the place of residence of  their  parents
  having rights of guardianship.
3.      The  place  of  residence is not  lost  by  the  person
  leaving it compulsorily or in fulfilment of a public duty for a
  limited time.

Article 23 Active capacity of natural person
1.    Capacity  of natural person to acquire and execute  civil
  rights  on  his  power and actions, and  to  establish  civil
  liabilities and to execute them (civil active capacity) shall
  arise in complete volume with attaining the majority that  is
  attaining 18 years old.
2.    In  the  case,  when  law  shall commit  consummation  of
  marriage until the attaining 18 years old, the natural person,
  not attaining 18 years old, shall acquire active capacity  in
  complete volume with consumption of marriage.
  Active  capacity  acquired  as a result  of  consummation  of
  marriage  shall  remain in complete volume  in  the  case  of
  discharging a marriage until attaining 18 years old.
  When  recognizing  the  marriage invalid,  court  can  accept
  decision  on  loss of complete active capacity by  under  age
  spouse at the moment defined by court.
3.   Under age natural persons at the age until seven years
  (juvenile) shall be incapable.

Article 24 Intolerableness of deprivation or limitation of
capacity and active capacity
1.   Natural person shall not be deprived of capacity.
2.    No  one  shall be limited in capacity and active capacity
  other than in cases or order established by law.
3.    Non-observance of conditions and order of  limitation  of
  natural persons active capacity or their rights to busy  with
  entrepreneurial or other activity shall involve the invalidity
  of  deed  issued  by  state or other  body  establishing  due
  limitation.
4.    Full or partial rejection of natural person from capacity
  of active capacity and other deals purposeful onto limitation
  of capacity or active capacity shall be worthless.

Article 25 Limited active capacity of under age natural persons
1.    Under  age  natural persons at the age from  seven  until
  eighteen years shall have limited active capacity.
2.    For  validity  of deal that made by natural  person  with
  limited   active   capacity  shall  be  approval   of   legal
  representative of the person, excluding the cases, when person
  with limited active capacity shall acquire favor on deal.

Article 26 Recognition of incapable natural person
1.    Natural  person,  who in consequence  of  mental  disease
  (mental illness, imbecility), can not realize meaning of  his
  actions or conduct them, can be recognized by court incapable.
  Tutelage for him shall be established.
2.    On  the  behalf  of natural person recognized  incapable,
  tutor shall make the deals.
3.    If  the reasons by force of what, the natural person  was
  recognized  incapable, shall be fall away,  the  court  shall
  recognize  him  capable. The established  tutelage  shall  be
  disaffirmed on the base of court decision.

Article 27 The limitation of active capacity of natural persons
1.    Natural  person, who in consequence of abuse  of  alcohol
  drinks  and  drugs  shall put a family in difficult  economic
  conditions,  can  be  limited by court  in  active  capacity.
  Guardianship shall be established over him. Such person shall
  be  empowered to make deals on property disposal, to  receive
  salary and dispose salary, pension or any types of profit only
  with guardian approval, excluding everyday deals.
2.    If  the reasons by force of what, the natural person  was
  limited in active capacity, shall be fall away, the court shall
  disaffirm  the limitation of active capacity. The established
  guardianship  shall  be disaffirmed  on  the  base  of  court
  decision.

Article 28 Entrepreneurial activity of natural person
1.   Natural person shall have a right to busy with
  entrepreneurial activity without legal entity foundation.
2.   The entrepreneurial activity of natural persons realizing
  without legal entity foundation shall apply regulations of the
  present Code, which are regulating entrepreneurial activity of
  legal entities.

Article 29 Property amenability of natural person
Natural  person  shall be amenable for his obligations  by  all
owned property, excluding property on which can not be applying
prosecution in accordance with law.
List  of  natural persons property on which can not be applying
prosecution   shall   be  established   by   civil   procedural
legislation.

Article 30 Insolvency (Bankruptcy) of individual entrepreneur
1.    Individual entrepreneur, who is not in position  to  meet
  creditor   requirements   connected   with   realization   of
  entrepreneurial activity by him, can be recognized  insolvent
  (bankrupt) on the court decision.
2.    When realization procedure for recognition bankruptcy  of
  individual entrepreneur, his creditors for requirements, that
  not connected with entrepreneurial activity realization, shall
  have rights to lay claims. Requirements of appointed creditors
  that not applied in this order shall be valid after completion
  of bankruptcy procedure of individual entrepreneur.
3.   In the case of recognition the individual entrepreneur the
  insolvent(bankrupt),  the meeting of individual  entrepreneur
  creditors  requirements shall be realized at the  expense  of
  property  owned  by  him, and on which  can  be  applying  of
  prosecution, in followings:
  
  first place- meeting requirements of natural persons, before
  which entrepreneur shall incur liability for damage for life
  and health, by way of capitalization of due periodical
  payments and requirements to alimony prosecution;
  
  second place- accomplishing sacks on retirement benefits and
  payment to persons working in accordance with labor
  contract, but neither more than three month before;
  
  third place – meeting requirements of creditors, provided by
  pledge of property owned by individual entrepreneur;
  
  fourth place- clearing off debts on obligatory payments to
  the budget and extra-budget funds;
  
  fifth place – accomplishing payments with other creditors in
  accordance with law.
  
  The requirements of creditors of each place shall be met
  after the meeting requirements of previous place creditors.
  
4.      After   the   payments   completion,   the   individual
  entrepreneur, recognized the bankruptcy, shall be set free from
  fulfillment   of   rest  requirements  connected   with   his
  entrepreneurial activity and other requirements laid  to  the
  fulfillment  and  taken  into account  when  recognizing  the
  individual entrepreneur the bankruptcy.
  The   requirements  of  natural  persons,   when   individual
  entrepreneur  shall incur liability for damage for  life  and
  health,   shall   be   valid  as  well  as   other   personal
  requirements.
5.    The reasons and order the court recognition of individual
  entrepreneur insolvent (bankrupt) shall be established by law
  on insolvent (bankrupt).
6.    In  accordance  with court decision the  natural  person,
  recognized  the  bankrupt,  can be  permitted  to  busy  with
  entrepreneurial activity during definite duration that can not
  be more than maximal duration established by law on insolvent
  (bankrupt).

Article 31 Guardianship and tutorship
1.    Guardianship  and  tutorship  shall  be  established  for
  protection of rights and interests of incapable natural persons
  or natural persons with limited active capacity.
2.    Guardians and tutors shall appear for defense  of  rights
  and  interests  of wards in relations with  any  persons  and
  organizations, including courts without special competency.
3.   Guardianship and tutorship shall be established over under
  age  natural persons in the absence of parents, adopters, and
  depriving of paternal rights by court, as well as in cases when
  such  natural  persons on other reasons shall remain  without
  paternal care, and, in particularly, when parents shall avoid
  their breeding or protection of rights and interests.

Article 32 Guardianship
1.    Guardianship shall be established under incapable natural
  persons.
2.    Guardians shall be representatives of wards by virtue  of
  law and shall make all necessary deals on their behalf and in
  their profits.

Article 33 Tutorship
1.    Tutorship shall be established under natural persons with
  limited active capacity.
2.    Tutors  shall approve perpetration of deals  which  wards
  have not rights to perpetrate independently.
  Tutors  shall assist to wards in realization of their  rights
  and  fulfillment  of obligations, as well  as  shall  protect
  them from abuse of third persons sides.

Article 34 Organs of Guardianship and Tutorship
1.    Organs  of  Guardianship  and Tutorship  shall  be  local
  government organs, and where there are not- chaykhims of etraps
  or towns.
2.    Court  shall  be  obliged, within  three  days  from  the
  entering  into the force decision on recognition the  natural
  person incapable or on limitation of active capacity, to inform
  organs of Guardianship and Tutorship locating at the permanent
  address of the natural person for establishing under him  the
  guardianship and tutorship.

Article 35 Guardians and Tutors
1.    Only of age capable natural persons can be appointed  the
  Guardians  and Tutors. Natural persons deprived  of  paternal
  rights can not be appointed the guardians and tutors.
2.   Guardian or Tutor can be appointed only with his approval.
  At this shall be taken into consideration his moral and other
  personal features, ability to execute obligations of tutors or
  guardians,  relations  existing among him  and  person  being
  required  in  guardianship and tutorship, and if  possible  –
  willing of ward.
3.    Guardian  and Tutor shall be appointed by the  organs  of
  guardianship and tutorship at the permanent address of person
  being required in guardianship or tutorship, during one month,
  when  mentioned organs was informed on necessity to establish
  guardianship or tutorship under natural person. In the presence
  of reasonable circumstances the guardian and the tutor can be
  appointed by the organs of guardianship and tutorship at  the
  permanent  address of guardian (tutor). If during  one  month
  shall  not be appointed guardian or tutor to the person being
  required  in  guardianship and tutorship, the fulfillment  of
  tutor or guardian obligations shall be placed temporarily  on
  the organs of guardianship and tutorship.
  The  appointment of Guardian or Tutor can be appeal in  court
by interested persons.
4.    Guardians or Tutors of natural persons being required  in
  guardianship and tutorship and being, or being placed in  due
  breeding, medical institutions, or institution of social care
  of  population, or the same type institutions, shall be these
  institutions.

Article 36 Performance of Responsibilities by guardians and
tutors
1.    Responsibilities on guardianship and tutorship  shall  be
  performed gratuitously. Guardians and Tutors shall have rights
  to  require  compensation  of  expenses  connected  with  the
  performance of responsibilities on guardianship and tutorship.
2.   Guardians and Tutors of under age natural persons shall be
  obliged to live jointly with wards. Separate living of  tutor
  and  wards attaining 16 years old shall be allowed  with  the
  approval  of organs of guardianship and tutorship, under  the
  condition that it shall not reflect unfavorably on breeding and
  protection of rights and interests of ward.
  Guardians  and  Tutors shall be obliged to inform  organs  of
  guardianship and tutorship about changing permanent address.
3.    Guardians  and  Tutors  shall be obliged  to  care  about
  supporting of wards, providing them by nursing and treatment,
  and to protect their rights and interests.
  Guardians  and Tutors of under age natural persons  shall  be
  obliged to care about their education and breeding.
4.    Responsibilities, stated in the point 3  of  the  present
  article, shall not be placed on tutors of age natural persons
  limited by court in active capacity.
5.    If  the reasons by force of what, the natural person  was
  recognized  incapable  or  limited  in  active  capacity   in
  consequence of abuse of alcohol drinks or drugs, shall be fall
  away,   guardian  or  tutor  shall  appeal  for  court  about
  recognition of ward capable and about disaffirming guardianship
  and tutorship.

Article 37 Disposal of property belonging to ward
1.    Profits  of ward natural person, including profits,  that
  due to ward from managing of his property, excluding profits,
  that  ward shall have right dispose independently,  shall  be
  dispose exclusively by guardian or tutor in ward interests and
  with previous approval of organs of guardianship and tutorship.
  Without  previous  approval  of organs  of  guardianship  and
  tutorship  the  guardian or tutor shall have  right  to  make
  costs  that necessary for supporting the ward at the expenses
  of amounts due to ward as his profit.
2.    Guardian shall not have right, without previous  approval
  of organs of guardianship and tutorship, to make, and tutor –to
  approve deals on alienation, including exchange or donation of
  property belonging to ward, its lease (rent), gratuitous usage
  or  pledge, deals involving rejection of rights belonging  to
  ward, property division or share apportionment, as well as any
  deals involving declining of property belonging to ward.
  Order  to  dispose the property belonging to wards  shall  be
established by law.
3.    Guardian,  tutor, their spouses, nearest relatives  shall
  not have rights to make contracts with ward, excluding property
  assignment as a donation or in gratuitous usage, as  well  as
  perform  the  ward when making the deals or court  proceeding
  among  ward and spouse of guardian or tutor and their nearest
  relatives.

Article 38 Trust management of ward property
1.    Perforce  of permanent management of unmovable  and  dear
  movable  property  of  ward, the organs of  guardianship  and
  tutorship  shall  make  trust management  deal  with  manager
  determined by this organ. In this case guardian or tutor shall
  preserve their competency concerning the ward property, that is
  not transferred to the trust management.
  When  realization  by  manager  his  competency  on  property
  management,  the action of regulations, stated  in  points  2
  and 3 of Article 37 of the present Code, shall be applied  on
  the manager.
2.    Trust management of ward property shall be terminated  in
  accordance with reasons stipulated by law for termination trust
  management  of  ward property deal, as well as  in  cases  of
  termination the guardianship and tutorship.

Article 39 Release of tutor and guardian from their
responsibilities
1.   Organ of guardianship and tutorship shall release guardian
  or  tutor  from fulfillment of responsibilities in  cases  of
  return the minor to his parents or his adoption.
  When  placing the ward in due breeding, medical institutions,
  or  institution  of social care of population,  or  the  same
  type  institutions, organ of guardianship and tutorship shall
  release  previously appointed guardians or tutors from  their
  requirements, if it is not in conflict to ward interests.
2.    In the presence of reasonable conditions (illness, change
  of property conditions, misunderstanding with ward and e.t.a.)
  guardian   or   tutor  can  be  released   from   fulfillment
  responsibilities on his request, if it is not in conflict  to
  ward interest.
3.    In  cases of undue fulfillment of responsibilities, which
  are on guardian or tutor, including usage of guardianship  or
  tutorship in mercenary purposes or abandonment of ward without
  care or assistance, organ of guardianship and tutorship shall
  release guardian or tutor from fulfillment of responsibilities
  and accept necessary measures to make answer of guilty person
  in accordance with law.

Article 40 Termination of guardianship and tutorship
1.    1.Guardianship  and tutorship on of age  natural  persons
  shall be terminated in cases of issuing by court decision  on
  recognition of ward capable or dissafirmance of limitation of
  legal  capacity in accordance with application  of  guardian,
  tutor or organ of guardianship and tutorship.
2.    2.When  the  attaining 7 years old by juvenile  ward  the
  guardianship on him shall be terminated, and person performing
  guardian responsibility shall become tutor of under age natural
  person without additional decisions for it.
3.    Tutorship on under age natural person shall be terminated
  without special decision when the attaining 18 years  old  by
  under age ward, as well as his consummation of marriage (point
  2  Article  23)  and in other cases of acquiring  full  legal
  capacity by him until attaining of age.

Article 41 Patronage on legal capacity natural persons
1.   On the request of age legal capacity natural person, which
  in  accordance  with health conditions can  not  realize  and
  protect his rights and fulfill obligations, can be established
  tutorship in form of patronage.
2.    Patron  (assistant) of age legal capacity natural  person
  can be appointed by organs of guardianship and tutorship only
  with approval of this person.
3.     Disposal of property, belonging to of age legal capacity
  natural person, shall be realized by patron (assistant) on the
  base of deal on trust management or commission. The realization
  of  everyday or other deals, directed on support and  meeting
  everyday  requirements of ward, shall be done by patron  with
  ward approval.
4.    Patronage  on  of  age  legal  capacity  natural  person,
  established in accordance with point 1 of the present Article,
  shall be terminated on the request of natural person, which is
  under patronage.
  Patron   (assistant)  of  natural  person,  which  is   under
  patronage,  shall be released from fulfillment of  placed  on
  him  obligations in cases, stipulated by Article  39  of  the
  present Code.

Article 42 Recognition of natural person missing without trace
Natural person can be recognized missing without trace upon the
application of interested persons, if his location  is  unknown
and  during 1 year there are no traces at his permanent address
about his location.
Owing  to  the  impossibility to  fix  day  of  receiving  last
information  about  missing  natural  person,  the   start   of
calculation  for  recognition natural  person  missing  without
trace  shall be first date of month, following the month  where
have  been received last information about missing person,  but
owing  to  the  impossibility to fix this month- January  1  of
following year.

Article 43 Aftermath of recognition of natural person missing
without trace
1.    Property  of  natural person recognized  missing  without
  trace,   on  necessity  of  constant  management,  shall   be
  transferred on the base of court decision to person, determined
  by  organ of guardianship and tutorship and shall act on  the
  base of trust management deal concluded with the organ.
  From  this property shall be issued support to persons, which
  person  missing without trace is obliged support,  and  shall
  be  compensate debts for other obligations of person  missing
  without trace.
2.   Organ of guardianship and tutorship can appoint manager of
  property  before the year expires from the date of  receiving
  information about missing person.
3.    Aftermath of recognition of person missing without trace,
  not stipulated by the present Article, shall be stipulated by
  law.

Article 44 The affirmation of decision on recognition the
natural person missing without trace
In  the case of attendance or discovery of place of performance
of  natural person recognized missed without trace,  the  court
shall  affirm  the decision on recognition him missing  without
trace.  On  the  base of court decision it  shall  be  affirmed
decision  on management of property of the natural  person.  He
shall  not have right to claim compensation of profit  obtained
in  result of due property conduction, but he shall have  right
to  claim compensation of damage, appeared in result of not due
property conduction.

Article 45 Announcement of the natural person dead
Court  can  announce natural person dead, if at  his  permanent
address there are no information about his place of performance
during  five  years,  and if he shall  miss  without  trace  on
circumstances  threatening the mortal danger or giving  reasons
to suppose his death from definite incident, - during 6 month.
1.    Serviceman or any natural person missing without trace in
  accordance with military operations can be announced by court
  dead  at  least three years expires from the date of military
  actions end.
2.   Death date of natural person, announced dead, supposed day
  of  entering into legal force the court decision on his death
  announcement. In cases of announcement of the natural  person
  dead, missing without trace on circumstances threatening  the
  mortal  danger  or giving reasons to suppose his  death  from
  definite incident, court can recognize date of supposed death
  as death date of the natural person.

Article 46 Consequences of attendance of natural person
announced dead
1.    In  the  case  of  attendance or discovery  of  place  of
  performance of natural person announced dead, the court shall
  affirm the decision on announcement him dead.
2.    In  spite  of  his  attendance time, natural  person  can
  require  from  any  person to return  saved  property,  which
  transferred gratuitously to this person after announced natural
  person dead, excluding cases, stipulated by point 2 Article 211
  of the present Code.
3.     Persons,  to  whom property of natural person  announced
  dead transferred on compensated contracts, shall be obliged to
  return the property, if it shall be proved that when acquiring
  the property, they knew that natural person announced dead was
  alive.  On impossibility to return such property in kind,  it
  shall be compensated his cost.
4.     If   property  of  natural  person  announced  dead  was
  transferred  to  the  State  and realized  by  it,  so  after
  affirmation court decision on announcement natural person dead,
  during one month to the natural person shall be returned  sum
  obtained from property realization

Article 47 Registration of Status Acts
1.    State  registration shall be obliged  to  the  followings
  Status Acts:
  a)   birth;
  b)   marriage consumption;
  c)   marriage discharge;
  d)   adoption;
  e)   change of name;
  f)   death of natural person.
2.   Registration of Status Acts shall be maintain by organs of
  registration  of Status Acts by insertion of due  records  in
  books  of  registration  of  status  acts  and  issuance   of
  certificates on the base of these records.
3.    Amendments  to  the  records  of  status  acts  shall  be
  maintained by organs of registration of Status Acts on presence
  of sufficient reasons and absence of dispute among interested
  persons.
  On  the  presence  of  dispute among  interested  persons  or
  refusal  of  organs of registration of Status Acts  to  amend
  records, the dispute shall be settled by court.
  Cancellation  and restoration of the records of  status  acts
  shall be maintained by organs of registration on the base  of
  court decision entering into legal force.
4.    Organs, maintaining the records of status acts, order  of
  registration  of  these  acts, amendments,  cancellation  and
  restoration of registration of Status Acts, forms of act books
  and  certificates,  as  well as order and  duration  of  book
  keeping, shall be terminated by law.


                           Section 2
                         Legal persons

Article 48 Definition of the legal person
1.    Legal  person is an organization, which in its  ownership
  has an individualized property and which is responsible for its
  obligations  by this property; on behalf of its name  it  may
  acquire and exercise property and personal non-property rights,
  carry  out  the  responsibilities and  to  be  defendant  and
  plaintiff in the court.
2.    The  state takes part in civil legal relations as a legal
  person. The competence of the state is performed through  its
  organs (bodies).
  Legal  persons, formed by the state, participate in the civil
  legal relations on the common basis.

Article 49 Legal capacity of the legal person
1.   Legal person, which is not being an entrepreneurial, shall
  have  the right to perform an activity correspondent  to  the
  purposes and foreseen by the statutory documents.
  An  entrepreneurial  legal person shall  have  the  right  to
  perform any activity not restricted by the law.
  Some types of activities, the list of which is determined  by
  the  law,  are  allowed to be performed by the legal  persons
  only  on the basis of the special permit (license). The right
  to  perform  such  an  activity by the legal  person  appears
  since the moment of obtaining the permit (license).
2.    Legal  capacity  of the legal person  appears  since  the
  moment of its registration and terminates at the moment of the
  registration of its liquidation.
3.   Legal person may be restricted in rights only in cases and
  in order, foreseen by the law.

Article 50 Entrepreneurial legal persons
Entrepreneurial  legal persons are those,  whose  task  is  the
entrepreneurial (commercial) activity with purpose of receiving
profit.  The  entrepreneurial  legal  persons  are  formed   in
accordance with the Law of Turkmenistan “On Entrepreneurs”.

Article 51 Non - entrepreneurial legal persons
1.    Non – entrepreneurial legal persons are those, whose task
  is not the entrepreneurial (commercial) activity with purpose
  of receiving profit. An entrepreneurial activity, which carries
  out an auxiliary character, does not change the matter of the
  non- entrepreneurial legal person. Non- entrepreneurial legal
  persons  are  formed  by means of unions  (associations)  and
  foundations.
2.    Legal  person  is considered as a union (association)  if
  several  persons  have a common purpose,  and  by  this,  the
  existence  of  the union does not depend on  changes  of  its
  members. In order to form a union (association) it is necessary
  to have not less than five (5) members.
3.    Legal  person  is considered a foundation,  when  one  or
  several founders transfer special property into the ownership
  of an independent subject (which does not members) for the sake
  of achieving the common purpose.

Article 52 Public registration of the legal persons
1.    Legal  person  is  to  be  the  subject  for  the  public
  registration in order, determined by the law. The data of the
  state registration (including for the commercial organizations
  – its name) are included into the uniform state register of the
  legal persons, opened for the public.
  The  breach of the established order for the formation of the
  legal  persons  or  the non-correspondence of  its  statutory
  documents   shall   lead  to  the  refusal   in   the   state
  registration   of   the   legal  person.   The   refusal   in
  registration  motivated as purposelessness of  the  formation
  of the legal person is not allowed.
  The  refusal  in state registration as well as  the  tendency
  for such a registration may be reconsidered in the court.
2.    The legal person is considered as formed since the moment
  of its public registration.

Article 53 Statutory documents of the legal persons
1.    Legal  person  shall  act on the  basis  of  the  by-laws
  (charter) or on the basis of the statutory agreement. In cases
  foreseen by the law, the legal person, which is not  being  a
  commercial  organization, may act on the basis of the  common
  provision on the organization of such type.
  Statutory  agreement of the legal person shall be  concluded,
  and its founder (participants) shall certify the by-laws.
  Legal  person, formed according to the present  Code  by  one
  founder, shall act on the basis of the charter, certified  by
  the founder.
2.    The charter other statutory documents of the legal person
  shall determine (point out) the name of the legal person, its
  location,  the  order  of management of  the  legal  person’s
  activity, as well as other info (data), provided by the law on
  legal persons of the relevant type. The statutory documents of
  the non-commercial organization and of unitary enterprises (and
  in   cases   foreseen  by  the  law  –  in  other  commercial
  organizations), shall determine the subject  matter  and  the
  purpose  of  the  activity  of the  legal  person.  Statutory
  documents  of  other  types of commercial  organizations  may
  foresee the subject matter and the purposes of their activity.
  In  the  statutory  agreement the  parties  (founders)  shall
  create  (form)  a  legal entity, determine an  order  of  the
  joint  activity  upon  its formation and  the  conditions  of
  transfer   of  their  property  and  participation   in   its
  activity.  Agreement shall determine the conditions  and  the
  order  of  distribution of the profit and  loss  between  the
  participants,  the management of the legal person.  Upon  the
  consent  of the founders, the statutory agreement may include
  other conditions as well.
3.   The changes of the statutory documents get their force for
  the third parties since the moment of the state registration,
  and  in  cases, established by the law – since the moment  of
  notification   of  the  organ,  which  performs   the   state
  registration.  However, the legal persons and their  founders
  (participants) shall not have the right to refer to the absence
  of the registration of such changes, when related to the third
  parties, who acted taking into account these changes.

Article 54 Organs of the legal person
1.    Legal person acquires civil rights and carries out  civil
  responsibilities through its organs, acting according to  the
  legislation and statutory documents. The order of appointment
  of the legal person’s organs is determined by the legislation
  and by the statutory documents.
2.    The person, who in virtue of the law or in virtue of  the
  statutory documents of the legal person, acts on behalf of the
  legal person, shall act conscientiously and reasonably in the
  interests of the represented legal person. It shall, upon the
  requirement  of the founders (participants, members)  of  the
  legal  person, cover the damages, caused by him to the  legal
  person, since otherwise is not provided by the law or by  the
  statutory documents.

Article 55 Name and location of the legal person
1.   Legal person has its own name, containing the reference on
  its  legal  and organizational form. The names  of  the  non-
  commercial organizations, unitary enterprises (and  in  cases
  provided  by the law – other commercial organizations)  shall
  contain the reference on the character of activity of the legal
  person. Inclusion of the references into the full or shortened
  official name (name of the state) into the name of the  legal
  person,  inclusion of this name or the elements of the  state
  symbolic  into  the  requisites  of  documents  or  into  the
  advertisement  materials of the legal person  is  allowed  in
  order, established by the Cabinet of Ministers.
2.    The  location of the legal person shall be determined  by
  the  place  of  its state registration, if otherwise  is  not
  established in the statutory documents of the legal person.
3.    The  name  and  location of the  legal  person  shall  be
  mentioned in its statutory documents.
4.    Legal  person,  which is being a commercial  organization
  shall have its firm name.
  Legal   person,  whose  firm  name  is  registered   in   the
  established order, has an exclusive right for its usage.
  The  order for its registration and for the usage of the firm
  manes  is  determined  by the legislation  according  to  the
  present Code.
  The  person, which is illegally using other’s registered firm
  name,  shall,  upon the requirement of the possessor  of  the
  right  on the firm name, stop its usage and cover the  caused
  damages.

Article 56 Representative offices and branches
1.    Representative office is a separated subdivision  of  the
  legal  person,  situated out of its  location  and  which  is
  performing protection and representation of the interests  of
  the  legal person, and executes transactions on behalf of its
  name as well as other types of legal actions.
2.    Branch  is  a separated subdivision of the legal  person,
  situated out of its location and which is performing  all  or
  part of legal person’s functions, including the functions  of
  the representative office.
3.    Representative  offices and branches are  not  the  legal
  persons. They are entitled to the property of the legal person,
  which  has  formed  them and they act on  the  basis  of  the
  authorized regulations.
  The  legal person appoints heads of the branches and  of  the
  representative  offices and they act  on  the  basis  of  the
  power of attorney.
  Representative  offices and branches shall  be  mentioned  in
  the charter of the legal person that has formed them.


                         Subsection 2
         General provisions on unions and foundations

Article 57 Registration of unions and foundations
1.    Associations acquire legal personality upon  registration
  in  the  Register of Associations or Register of Foundations.
  Registration shall be permitted on condition that the charter
  of  the  union or foundation is permitted by the Ministry  of
  Justice. The minister of justice may authorize courts to issue
  permits.
2.    The  right of demand of the permit and registration shall
  take  place if the charter complies with the law requirements
  and  unless the objectives of the legal person presented  for
  registration  are  in  conformance with  the  effective  law,
  acknowledged moral norms or constitutional-legal principles of
  Turkmenistan. As to foundations, their property must correspond
  to the objectives set.
3.    In order to receive a permit and registration it shall be
  necessary to submit an application to the Ministry of Justice,
  signed by all the founders and members of the board, and  the
  charter.
4.    The Ministry of Justice must issue a permit within a  two
  month  period. If no decision is made within this period  the
  permit shall be considered to have been issued.. The court must
  make a decision on registration within a month period after the
  date  the application was submitted. If no decision  is  made
  within this period the registration shall be considered to have
  effected.
5.    Refusal  to issue a permit or to register must  be  well-
  founded,it must forsee the possibility and order of appealing.
  The refusal may be appealed in court.

Article 58 Bye-laws of Unions and foundations
1.    The  organisation  and the structure  of  the  union  and
  foundation shall be regulated by the charter.
2.   The charter must contain:
  a)   Objective of activity;
  b)   Name;
  c)   Place of location (Legal address);
  d)   First and family names of all members of the board, place
     and date of their birth, profession and place of residence, the
     schedule of board sessions and making decisions at them.
e)   in point ”d” the same data on founders.
3.   The charter must also contain:
  a)   Functions of other management and supervision bodies;
  b)   Order of liquidation and property disposition;
  c)   Powers of the assembly of members of the union.
4.   For foundations in addition to what is stated in paragraph
  two the charter must contain:
  a)   Amount and type of donations;
  b)   Instructions as to how to use profits
5.   The charter must be notarized.

Article 59 Data of registration
1.    Registration shall include the following data: name of  a
  legal person and its place of location, objective of activity,
  date of charter adoption, personal data of founders, personal
  data of members of the board and possible restrictions of their
  representative powers.
2.   Registration data shall be subject to publishing.
3.    Any  person  shall  have the right to get  familiar  with
  register entries and demand a written extract.

Article 60 Registration of amendments
The changes of facts which are subject to registration must  be
immediately  presented to court in the form  certified  by  the
board.   They  shall  be  introduced  into  the  register   and
published.

Article 61 State control of Unions and Foundations’ activities
1.    The  Ministry  of  Justice shall be responsible  for  the
  effectuation of a legal control over unions and foundations.
2.    He  must  abolish registration if a union or a foundation
  basically are engaged in commercial activity or if effectuation
  of objectives forseen by their charter became impossible.

Article 62 Management and representatives
1.    The right of managing belongs to members of board and  in
  individual cases special representatives. This shall be their
  duty at the same time.
2.   The management limits shall be specified by the objectives
  of a union or a foundation.
3.    The  charter  may  stipulate  the  power  of  individudal
  management  or  establish joint management  of  two  or  more
  persons.
4.    The  charter  may  forsee as well  effectuation  of  what
  actions may require consent of other supervisory bodies.

Article 63 Management powers in relations with third parties
1.    The  board  represents the union or foundation  in  their
  relations  with  third  persons. The charter  must  establish
  whether  the persons authorized to representation  shall  act
  individually or jointly.
2.    The  charter  may restrict the powers of representatives.
  These restrictions shall be valid for third persons only when
  they  are registered except for instances when a third person
  was aware of these restrictions.
3.   The charter may forsee a special representative of a union
  or a foundation. The charter must specify the limits of powers
  of  such  a representative and its form, that also  shall  be
  subject to registration.

Article 64 Liability
1.   The union and foundation shall bear responsibility for the
  damage incurred by them to a third person as a result of such
  actions  of members of board or other representatives,  which
  entail obligation to compensate for the damage if these actions
  refer to the range of functions of the person who has incurred
  this damage.
2.    The persons authorized to representation must act in good
  faith. They shall bear responsibility for the violation of this
  duty for the damage incurred. Refusal in compensation for the
  damage  made  shall  be  invalid  if  it  is  necessary   for
  satisfaction of claims of third persons.
3.    The  members  of  a union or foundation  shall  not  bear
  responsibility for the obligations undertaken by the union or
  foundation, as well as unions and foundations shall not  bear
  responsibility for the obligations of their members.

Article 65 Reorganisation and liquidation of unions and
foundations
1.    Liquidation of a union or foundation shall take place  in
  instances  stipulated  in  their  charters  as  a  result  of
  achievement of the objective set, bankruptcy or abolishing the
  permit by the Ministry of Justice.
2.    When  liquidating all current matters must be  finalised,
  demands established, pecuniary expression of the property left
  specified, creditors satisfied and balance distributed  among
  competent persons.
3.    The  persons authorized to accept property may be defined
  by  the  charter.  In case such definition  is  missing,  the
  Ministry  of  Justice at its discretion  shall  transfer  the
  property  left  to one or several unions or foundations  with
  similar objections. In the absence of such organizations  the
  property may be transferred to a charity organization or to the
  state.
4.   The information concerning liquidation shall be subject to
  publishing. The distribution of the property shall be permitted
  on the expiry of one year after publishing.
5.    Liquidation  shall  be implemented by  the  board.  Under
  special  circumstances court may nominate other  liquidators.
  Liquidators shall bear responsibility as board members.


                              § 1
                 Special provisions on unions

Article 66 The Board
1.    The  board  shall  be  elected by a general  assembly  of
  members  for  four  years,  unless  the  charter  establishes
  otherwise. The powers of the board shall extend until  a  new
  board  is  elected.  The  charter  shall  also  specify   the
  remuneration for the board members’ labour.
2.    The  nomination  may  be abolished  at  any  moment.  The
  abolishing of the nomination may be put down to some important
  circumstances.
3.    If the number of board members does not reach the minimum
  specified by the charter, the court responsible for registering
  may nominate for the transition period members who are lacking.
  In this case board members must summon general assembly, which
  must make a final decision.

Article 67 General Assembly
1.   The board shall summon the general assembly of members. It
  must be summoned with a period of two weeks not less than once
  a  year in instances stipulated in the charter or when it  is
  required for the interests of the union. Moreover, the assembly
  must be summoned if the tenth part of all the members demands
  it in writing and specifies its agenda.
2.    The  assembly shall be summoned by means of  directing  a
  written message to all members or by publishing this message in
  the union publishing organ not later than two weeks before the
  assembly.
3.    The assembly of members shall adopt decisions on all  the
  issues  which  relate to the competence  of  the  board.  The
  decision shall be valid provided its subject was declared when
  summoning the assembly.
4.    The  decision shall be adopted by the majority of members
  present at the assembly, and the decision on the amendment of
  the  charter - by the majority of three fourth of voices.  It
  shall be necessary to have to have four fifth of voices of all
  members. The members absent from the assembly may take part in
  voting in written form.

Article 68 Commissions
The  assembly of members may in accordance with the charter set
up  commissions  to  which functions of  the  assembly  may  be
transferred  for the period between assemblies, especially  for
the  supervision over the union activity. The  members  of  the
commission may be only members of the union.

Article 69 Special Organs
For  the  consultancy purposes in the process  of  implementing
tasks  set  before the union the assembly may  set  up  special
bodies    (consulting   council,   curatorium,   administrative
council), if it is stipulated by the charter. These organs  may
include also persons who are not members of the union.

Article 70 Membership
1.    Admittance  to the union membership shall be effected  by
  the board on the basis of a written statement of an applicant.
2.    Every member shall have the right to leave the union. The
  charter may foreseen a specified leaving period, which must not
  exceed two years. Leaving the union which has been caused  by
  significant circumstances cannot be restricted by the leaving
  period.
3.    Membership  shall not pass to other persons or  inherited
  unless provided for otherwise by the charter.
4.   If there are considerable reasons the general assembly may
  expel a member from the union. The expelled member shall have
  the right to appeal against this decision in court.
5.    If  the  union have neccessary social, cultural or  other
  functions  for the person, which want to be a member  of  the
  union,  the person can claim, that it became a member of  the
  union, if this not contradict general principles of the union.

§ 2
               Special provisions on foundations

Article 71 Foundations for destinataires
The  objective  of  the foundation may be also  maintenance  of
certain persons or precisely specified circles. All the persons
having  the  right  to  a  share from the  foundation  property
(destinators)  may  with the consent of all the  board  members
abolish  the  foundation, or alter its objective,  if  this  is
supported  by the Ministry of Justice. The property left  shall
be distributed among destinators.

Article 72 Obligation to contribute to funds
1.    The  founder (founders) by the documents on establishment
  of   the  foundation,  certified  notarially,  must  take  an
  obligation  to  contribute to the foundation  the  amount  of
  property sufficient for the achievement of the objective set.
  If the property is insufficient, the founder shall be refused
  the permit to set up a foundation.
2.    Before  the  permit  is issued the  refusal  to  transfer
  property shall be possible at any time. The property must  be
  transferred in full within a month’s period after the issue of
  the permit, otherwise the permit becomes void.
3.    Unless  provided otherwise in the charter, the objectives
  of the foundation must be financed from the revenues received
  from the property. If these revenues are not sufficient for a
  certain period of time, the activity of the foundation must be
  either respectively reduced or suspended and revenues must be
  added to the property.
4.    An annual report on the status of the foundation property
  must be prepared according to the respective form.

Article 73 Supervisory Board
1.     With   an  aim  of  nominating  the  board  and  special
  representatives, recall and supervision over them, the charter
  may stipulate the formation of curatorium, whose members shall
  be invited by the founders of the foundation, and after their
  death - either by destinators or by the Ministry of Justice, or
  within  the  charter limits it may be supplemented  with  new
  members (co-optation).
2.    In  all  other  instances the Ministry of  Justice  shall
  verify so that the management of the foundation be effected in
  accordance with laws and the charter. The Ministry of Justice
  may at any time receive the information on the activity of the
  foundation and check its documentation.
3.    The  supervision body may suspend the decision or  events
  undertaken by the board, declare them void, and demand  their
  abrogation, if they are contrary to the law or charter.
4.    The  supervision  body shall provide conformance  of  the
  board and other bodies to the charter. If the charter regulates
  these relations insufficiently, this body may give additional
  instructions.

Article 74 Change of purpose of fund
Apart  from  Article  210 the following rules  shall  apply  to
foundations  without  destinators: if the  achievement  of  the
objective set is impossible or there is another ground for  the
foundation to be abolished, the Ministry of Justice may, unless
the  charter states this, demand that the objective be  changed
instead  of  liquidation or effectuate the  merger  with  other
foundations  so  that to preserve similarity with  the  initial
objective.  Even if a single founder is alive, his  consent  is
required.


                           Chapter 3
                 Contracts and representations

                           Section 1
                      General provisions

Article 75 Definition and types of contracts
1.   The transaction is an expression of will which is directed
  at the arising, changing or terminating a legal relation.
2.    Contracts  may be concluded unilaterally, bilaterally  or
  between several parties. A unilateral contract can only create
  duties for other persons within those cases foreseen by law or
  by reason of agreement with the parties concerned.

Article 76 Expression of will
1.    The  expression of will requiring to be accepted  by  the
  other party shall be valid only at the moment when it reaches
  it.
2.    The expression of will shall not be considered valid,  if
  the other party preliminarily or at once announces its refusal.
3.    The death of a person who concluded a transaction or  his
  lack of dispositive legal capacity may not affect the validity
  of  the  expression of will, if this event ensued  after  the
  conclusion of the transaction or expression of will.

Article 77 Interpretation of expression of will
When interpreting a will it must be established as a result  of
a reasonable discussion and not only by a literal sense.

Article 78 Nullity of contract without purpose
The transaction shall not take place, if by external expression
or   by   other  circumstances  the  precise  content  of   the
transaction cannot be established.

Article 79 Invalidity of contract which contradicts civil order
and public morals
The transaction which is contrary to social interests, norms of
morals and rules set up by law.

Article 80 Invalidity of contract through duress
The  transaction may be considered void, if there is an obvious
disparity  between the execution specified by  the  transaction
and   the   reward  stipulated  for  this  execution  and   the
transaction was concluded only due to the fact that one of  the
parties had abused its market power or had taken advantage of a
difficult position of the other party or of its inexperience.

Article 81 Invalidity of fictitious contracts
1.   The transaction concluded only for the sake of appearances
  (feigned transaction) shall be void.
2.    If  by means of a feigned transaction parties are willing
  to  conceal  another  one, the rules  applicable  to  feigned
  transactions shall apply.

Article 82 Invalidity of contract without serious purpose
1.    The  expression  of will made not being  in  earnest  and
  reckoning that it would not be disclosed.
2.    The  receiver  of  the will must be compensated  for  the
  damage  which  arose as a consequence of  his  trust  to  the
  earnestness of the will expressed, unless he knew or could know
  about lack of earnestness.

Article 83 Invalidity of contract due to legal incapacity or
mental illness
1.    The  declaration of intent of a minor or a  person  whose
  legal incapacity has been declared by Court Order is invalid.
2.   The will expressed in case of lost consciousness or mental
  desease may be deemed void.
3.    The  display of will by a mentally deseased shall be void
  and  in  the  instance  if he has not  been  deemed  to  lack
  dispositive legal capacity.

Article 84 Invalidity of contract concluded without prescribed
form
1.   1.The transaction which has been concluded in violation of
  the  form  established by by law or charter, as well  as  the
  transaction concluded without a permit if it is required  for
  this transaction.
2.    The  contested transaction shall be also  void  from  the
  moment of its conclusion if it is contested. Contesting must be
  effected with regard to the other party.
3.   Any interested person shall have the right to contesting.

Article 85 Conversion of contracts *(from invalid to valid)
In   event   a  voidable  transaction  meets  the  requirements
stipulated for another transaction, the latter shall apply,  if
on  knowing about the voidable transaction, parties want it  to
be valid.

Article 86 Validation of invalid contract
1.    If  a  person  who  has  concluded  an  undoubtedly  void
  tranaction confirms it, his actions shall be considered to be a
  conclusion of a transaction anew.
2.    If  a  transaction is confirmed by a person  entitled  to
  contest it, by this he shall lose the right to contesting.
3.    In event an undoubtedly voidable transaction is confirmed
  by both parties then in case of doubts they shall be obliged to
  transfer  to  each  other whatever was due  to  them  if  the
  transaction had been valid from the first.
4.    The  confirmation shall become valid only when a contract
  or  a  transaction are not contrary to the morals and  public
  order.

Article 87 Partial Invalidity
1.   The invalidity of a part of a transaction shall not entail
  invalidity of its other parts, if it is possible to assume that
  the  transaction could have been concluded without  the  part
  which is void.
2.    If  one of the parts of a transaction deals with standard
  terms of contracts and they are void or became parts of minor
  importance, the contract as a whole shall remain valid.


                           Section 2
 Civil dispositive legal capacity as condition for transaction
                          to be valid

Article 88 Validity of contract made by under age natural
person
1.    If  under age natural person shall make contract  without
  necessary approval of valid representative for it, the validity
  of contract shall depend on further approval of representative,
  excluding cases, when under age natural person shall  receive
  profit.
2.   If under age natural person shall become legal capable
completely, he shall decide issue on his command inpendenly.

Article 89 Refusal to validate contract minor’s contract
1.   Before the contract is approved the other party shall have
  the right to refuse from the contract.
2.    If the other party knew about the minority of the person,
  then it may refuse only in the event if the minor assumed that
  he could have got the consent of his representative; it cannot
  refuse  also  in  the event if during the conclusion  of  the
  contract the party was aware of the absence of the consent of
  the representative.

Article 90 Facilitation/Emancipation of minor to conclude
contracts
1.    The contract concluded by a minor without consent of  his
  legal representative, shall be considered valid, if in order to
  execute  action  stipulated by the  contract  the  minor  has
  disposed  of  the  funds transferred  to  him  by  his  legal
  representative or with the consent of this representative  by
  third persons for same purposes or for free disposition.
2.    If  a  legal  representative gives a minor the  right  to
  independent  management of the enterprise or  to  independent
  entry into industrial relations, then in traditional for these
  spheres relations this minor shall be treated as person having
  full dispositive legal capacity. These rules shall apply both
  when  founding  an enterprise as well as when liquidating  an
  enterprise,  at  the beginning and at the end  of  industrial
  relations.
3.    The permission to manage an enterprise shall require  the
  permit   of   a  legal  representative  of  trusteeship   and
  guardianship bodies.

Article 91 Invalidity of contract without consent of legal
guardian
1.    A  unilateral transaction concluded by by a minor without
  an  obligatory consent of the legal representative  shall  be
  void.
2.    Such a transaction shall be void also when the consent of
  the  legal representative is available but the minor has  not
  submitted a written document confirming this consent owing to
  which  the  party with which the transaction  was  concluded,
  immediately repudiated it. Such repudiation shall be impossible
  if the other party was informed about this consent of a legal
  representative.

Article 92 Necessity of prior consent to validate contract
A permit shall be required for the transaction concluded before
the  restriction  of  dispositive  legal  capacity,  if  it  is
established that the ground due to which the dispositive  legal
capacity  was  restricted  obviously existed  also  during  the
conclusion of the transaction.


                           Section 3
                      Form of transaction

Article 93 Form for validity of contract
For  the  sake  of  validity of the  transaction  it  shall  be
necessary  to observe its form established by law.  If  such  a
form   is  not  established,  parties  may  establish   it   by
themselves.

Article 94 Form of contract
1.    On  the simple written form for validity of contract will
  be enough the signatures of persons that participating in the
  contract.
2.   The reviving of signature, repeatness of signature and its
  copy with means of mechanical equipment shall be available only
  in cases, when this is adapted, as well in signing securities,
  that issued in large quantity.
3.    If  form of contract shall require its notarization, then
  when  making  contract  shall be  notaree  or  other  person,
  stipulated by law.

Article 95 Signature by proxy
A  person who is unable to sign a transaction with his own hand
due  to  his illiteracy, physical defects or illness may assign
signing a transaction to another person. The signature  of  the
latter must be certified officially. For all that there must be
an  indication  of  the reason owing to which  the  person  who
concluded  a  transaction was unable to sign it  with  his  own
hand.

Article 96 Conclusion of contract with preparation of several
documents
Upon  conclusion of a contract the parties are obliged to  sign
one  and  the  same document. If when concluding a  transaction
there have been compiled several acts with similar content,  it
shall  be  sufficient for each party to sign the copy which  is
assigned for the respective party.


                           Section 4
                    Contested transactions

                         Subsection 1
    Transactions concluded under the influence of delusion

Article 97 Definition
The transaction may be contested if the expression of will took
place on the basis of essential delusion.

Article 98 Substantial error
An essential delusion may be:
  a)   When the person wanted to conclude a transaction different
     from the one with regard to which he expressed his consent;
  b)    When  the  person  is mistaken in the  content  of  the
     transaction which he wanted to conclude;
  c)   When there are no circumstances which parties proceeding
     from  good faith principles considered as ground  for  the
     transaction to be concluded.

Article 99 Error as to party
1.    Delusion in relation to the personality of a counteragent
  shall be considered essential only when the person himself or
  personal properties are a principal ground for the conclusion
  of the transaction.
2.    The  delusion in relation to principal properties of  the
  subject shall be considered essential only when it matters for
  the determination of the cost of this subject.

Article 100 Error in law
Delusion in law (right) shall be essential only if it was  sole
and principal ground for the conclusion of the transaction.

Article 101 Error in Motive
Delusion in relation to the motive of the transaction shall not
be  considered essential except for instances when a motive  by
itself was a subject of the transaction.

Article 102 Consent to contract
The  expression of will under the influence of delusion  cannot
be   contested  if  the  other  party  agrees  to  execute  the
transaction in accordance with the wish of the party willing to
contest the transaction.

Article 103 Minor mistakes
Minor  errors in computation or in expression of will, made  in
writing shall entitle to corrections but not to contest.

Article 104 Liability to damages for contract induced by
mistake
1.    The contest shall be valid only if it was effected within
  a  month’s  period after the moment when the ground  for  the
  contest became known.
2.    If  the  transaction has been contested and delusion  has
  been caused by negligence of the person who has the right  to
  contest. he shall be obliged to compensate the other party for
  the  damage  incurred  as consequence of  invalidity  of  the
  transaction.  The duty to compensate shall not arise  if  the
  other  party was aware of delusion or owing to its negligence
  did not know about it.

Article 105 Error due to fault of mediator
The expression of will wrongfully communicated by the agent may
be  contested on grounds, similar to those which have been used
for  the tarnsactions concluded under the influence of delusion
in accordance with article 98.


                         Subsection 2
              Transactions concluded under fraud

Article 106 recognition of invalidity of contract concluded by
fraud
1.    If a person has been deceived with an aim of concluding a
  transaction,  it  shall have the right  to  demand  that  the
  transaction  be void. It happens when it is obvious  that  if
  there had not been fraud the transaction would not have  been
  executed.
2.    If  one of the parties fails to mention the circumstances
  under which if revealed the other party would not express its
  will,  the deceived party may demand that the transaction  be
  void. The duty to make it known shall take place only when the
  other party expects it in good faith.

Article 107 Irrelevancy of motive behind fraud
In  order to deem the transaction executed by means of fraud to
be   void   it   does  not  matter,  whether  the  party   when
communicating wrong data was pursuing an objective  to  receive
profit or to incur the other party damage.

Article 108 Fraud by third party
When fraud took place on the part of third persons it shall  be
possible  to demand that the transaction be void if the  person
who benefited by this transaction knew or must have known about
the fraud.

Article 109 Period for challenge
A  transaction  may  be contested within  a  year  period.  The
computation of the period shall ensue from the moment when  the
person  entitled to contest came to know about the grounds  for
contesting.


                         Subsection 3
     Transactions executed under the influence of violence

Article 110 Definition of duress
Violence or threat of violence in relation to a person who  has
executed  a  transaction shall entitle him to demand  that  the
transaction be void even when the violence derived  from  third
persons.

Article 111 Nature of duress
1.    The  invalidity of a transaction may be  caused  by  such
  violence  which  by its nature may influence the  person  and
  inspire him with an idea that danger threatens him personally
  or his property.
2.    When  estimating the character of violence  the  person’s
  age, sex and way of life should be taken into consideration.

Article 112 Duress towards Relatives
Violence  shall be a ground for demanding that the  transaction
be  void  even  when it was directed against the spouse,  other
members of his family or close relatives of one of the parties.

Article 113 Legal limits to duress
With  reference  to the rules stated in articles  110-112  such
actions  which are not effected with illegal purposes and  with
illegal means, except for instances when the purpose and  means
do not match.

Article 114 Period of challenge
The transaction executed under the influence of violence may be
contested within a year from the moment this violence occurred.


                           Section 5
            Transactions, executed under condition

Article 115 Definition
The  transaction  shall  be considered  to  be  executed  under
condition  when  it  is  dependent on the  future  and  unknown
phenomenon and its execution shall be postponed till  it  comes
or the transaction shall terminate as soon as it comes.

Article 116 Invalid condition
The  condition  shall  be  void unless  it  conforms  with  the
requirements  of  law or norms of morals or  its  execution  is
impossible. The transaction dependent on any of such conditions
shall be completely void.

Article 117 Condition dependent on will
A  condition, the occurrence of which depends solely  upon  the
intention  of one party to the contract is deemed dependant  on
volition/will. A contract concluded under such a  condition  is
invalid.
The  condition  whose  coming depends on  the  parties  in  the
transaction  shall  be  considered  dependent  on   will.   The
transaction executed under such condition shall be void.

Article 118 Positive conditions
1.    If a transaction has been executed under a condition that
  a certain phenomenon will come within a certain period of time,
  the condition shall be considered to be no longer in force, if
  this time expired and the phenomenon did not come.
2.    If the time limit has not been defined, the condition may
  be effected at any time. the condition may be deemed to be no
  longer in force, when it becomes clear that it will never come.

Article 119 Negative conditions
1.    If a transaction has been executed under condition that a
  certain  phenomenon  will not come at  a  certain  time,  the
  condition shall be considered to have been executed even when
  before the expiration of the time limit it becomes clear that
  the phenomenon will never come.
2.    If  the  time  limit has not been defined, the  condition
  shall be considered to have been executed only when it becomes
  clear that the phenomenon will never come.

Article 120 Inadmissibility of influence on occurrence of
condition
1.    The person who has executed a transaction under a certain
  condition shall not have the right before the condition comes
  to effectuate an action which may prevent from performing his
  obligations.
2.    If  a condition comes at a certain period of time and the
  person has already effected such an action, he shall be obliged
  to compensate the other party for the damage that arose as  a
  result of this action.

Article 121 Condition postponing contract
The transaction shall be considered to have been executed under
a  postponing  condition, if the origin of  rights  and  duties
stipulated by the transaction depends on the future and unknown
phenomenon,  or  a phenomenon, that has already  come  but  the
parties are still unaware of that.

Article 122 Condition cancelling contract
The transaction shall be considered to have been executed under
a  canceling condition, if the coming of this condition entails
termination  of  the transaction and restores the  status  that
existed before the execution of the transaction.

Article 123 Influence of good faith on condition
1.    If  the  coming of the condition was delayed due  to  the
  party’s bad faith which is not interested in the coming of this
  condition, the condition shall be considered to have come.
2.   If the coming of the condition was promoted by the party’s
  bad faith which was interested in the coming of the condition,
  this condition shall not be considered to have come.


                           Section 6
                   Agreement in transactions

Article 124 Definition
1.    If  the  validity  of  the  transaction  depends  on  the
  agreement  of a third person, then it shall be possible  that
  agreement  as  well as refusal be expressed to  both  of  the
  parties.
2.    There is no need in observing in agreement an established
  for a transaction form.
3.    If  a transaction whose validity depends on the agreement
  of a third party has been executed with the consent of a third
  party then sentences two and three of article 230 respectively
  shall apply.

Article 125 Prior consent
The  consent  (permission) given beforehand  may  be  abolished
before  the  execution of the transaction, unless  the  parties
agreed  upon  otherwise. Both parties must  be  informed  about
abolition.

Article 126 Subsequent consequent
The  subsequent consent (approval) may have a retroactive force
to  the  moment  of  the execution of the  transaction,  unless
provided for otherwise.

Article 127 Dispositions by unauthorised persons
1.    The  disposition of the credit by a person not authotized
  to do so shall be valid if it was effected with the consent of
  the plenipotentiary person.
2.    A  disposition  becomes valid when the authorised  person
  approves it, or when the disposing party acquires the object,
  or when he is succeeded by the authorised person and the latter
  assumes unlimited liability for obligations pertaining to the
  estate.  In  the  last two cases, where several  inconsistent
  dispositions over the object have been made, only the earliest
  disposition is valid.


                           Section 7
                Representation in transactions

Article 128 Definition
1.    The transaction may be also executed by a representative.
  Authority  for representation either follows from  a  law  or
  arises on the basis of the power of attorney.
2.    The  rule indicated in paragraph one shall not  apply  if
  proceeding from the character of the transaction it must have
  been executed directly by the person himself, or when the law
  prohibits conclusion of a transaction by a representative.

Article 129 Effect of contract of representation
1.     With   regard   to  the  transaction   executed   by   a
  representative within the limits of his competence and in the
  name  of the person whom he represents, the rights and duties
  shall arise only with the person represented.
2.    If a transaction has been executed in the name of another
  person, the lack of the right to representation cannot be used
  by the other party, if the represented person has created such
  circumstances under which the other party assumed in good faith
  the availability of this authority.
3.    If  when executing a transaction the representative  does
  not points at his authority as representative, the transaction
  shall create consequences directly for the person represented
  only   in  case  the  other  party  must  have  assumed  this
  representation. Same rule shall apply when the other party does
  not care who it will conclude a transaction with.

Article 130 Representation with limited powers
The  transaction executed by a representative  shall  be  valid
even  when  the representative is restricted in his dispositive
legal capacity.

Article 131 Lack of expression of will
1.    When contesting a transaction due to the shortage of will
  expressed, the will of the representative shall be d ecisive.
2.    If the shortage of will concerns such circumstances which
  have not been specified beforehand by the represented person,
  this shortage shall give the right to contesting only when this
  shortage derives from the represented person.

Article 132 Power of representation/attorney
1.    Authority  shall be issued by the expression of  will  in
  relation to the representative or the third person with  whom
  the contract will be conclude.
2.     The   form  required  for  the  transaction  for   which
  authorization  was  issued shall  not  be  required  for  the
  expression of will. This rule shall not apply if a special form
  has been established.

Article 133 Obligation to inform about alteration in power
Third  persons must be informed of the change or  abolition  of
the  power of attorney. If this requirement is not observed the
change and abolition of authority cannot be used in relation to
third  persons, except for instances when the parties  knew  or
must  have  known  about  them at the moment  of  concluding  a
contract.

Article 134 Grounds for terminating power of representation
The authority for representation shall terminate:
  a)   by the repudiation of the person authorized;
  b)    by the abolition of the authority by the person who has
     issued it;
  c)   by death of a person who has issued the authority, or by
     lack of full civil dispositive capacity, unless established
     otherwise;
  d)   by the performance;
  e)    by  publication  in the official press of  Turkmenistan
     declaring the authorities issued to the person invalid;
  f)   by the expiry of the period for which the authorities have
     been granted.

Article 135 Obligation of representative upon termination of
powers
After  the  termination of authorities the representative  must
return  the  document certifying his authorities to the  person
who issued it; he shall have no right to keep this document.

Article 136 Conclusion of contract without power of
representation
1.   If a person without authorities of a representative in the
  name of another person concludes a contract, the validity of a
  contract  shall depend on the consent of the person  whom  he
  represents.
2.   If the other party requires the consent of the person whom
  he represents, this consent must be communicated only to this
  party. The consent may be given within a two week period after
  the  demand;  if  this did not happen, the  demand  shall  be
  considered to be rejected.

Article 137 Right to refuse
Before  giving consent for the conclusion of the  contract  the
other  party  shall have the right to repudiate  the  contract,
except for instances when this party has found out of the  lack
of   authorities   at  the  conclusion  of   the   contract.The
repudiation  of  the contract may be made in  relation  to  the
representative as well.

Article 138 Liability of representative without powers
1.    The person who concludes a contract in the capacity of  a
  representative  if  he cannot confirm his  authorities  of  a
  representative shall be obliged at the discretion of the other
  party either perform the obligation or compensate for the harm
  if the person who is represented refuses to give his consent to
  conclude a contract.
2.    If  the  representative was not  aware  of  the  lack  of
  authorities  of  a  representative, he shall  be  obliged  to
  compensate only for the damage incurred to the other party due
  to his trust in the authorities of a representative.
3.    If  the  other party knew or should have known about  the
  lack of authorities of the representative, the responsibility
  shall not be laid upon the representative.
  The  representative shall not bear responsibility  even  when
  his  civil dispositive legal capacity was restricted,  except
  for  the  instances  when he acted with the  consent  of  his
  legal representative.

Article 139 Prohibition against self-dealing
The representative cannot, unless provided for otherwise by the
agreement, conclude contracts with himself in the name  of  the
person whom he represents, in his name or in the capacity of  a
third person, except for the instances when the transaction has
already been concluded for the performance of some obligation.


                           Chapter 4
                            Periods

                           Section 1
                    Calculation of periods

Article 140 Sphere of application of the rules for calculation
of the periods
The  rules foreseen by the present chapter shall apply  to  the
periods  mentioned in the laws, in the court decisions  and  in
transactions.

Article 141 Commencement of the period
1.    If  the commencement of the period is determined by  some
  event  or by the moment of time, which will occur during  the
  day,  then  the day, on which the event or the moment  occur,
  shall not be included into the period.
2.    If  the commencement of the period is determined  by  the
  commencement of some day, then the day shall be included in to
  the  period. This rule shall apply also to the birthday  when
  calculating an age.

Article 142 Termination of the period
1.    The  period that is calculated by days, shall expire with
  the termination of the last day of the period.
2.    The period that is calculated by weeks, months or by  the
  time  comprising several months (year, half a year,  quarter)
  shall expire (in case provided in the part 1 of the Article 141
  of  the present Code) by termination of that day of the  last
  week or of the last month, which, due to its name or its number
  corresponds the day, which is the being the event or the moment
  of time, and in case provided in the part 2 of the Article 141
  of the present Code, it shall expire by termination of that day
  of the last week or the last month, which goes before the day
  that, due to its name or its number corresponds the first day
  of the period.
3.    If  the  period is calculated by months and in  the  last
  month there is no that date, since which the period commences,
  then the period shall terminate at the last day of this month.

Article 143 Half a year, quarter, half a month
1.   Half a year is a period of six months; quarter is a period
  of three months; half a month is period of fifteen days.
2.    If  a  period consists of one or several full months  and
  half a month, then these fifteen days shall be counted at the
  end of the period.

Article 144 Prolongation of a period
In  case  of delay, a new period shall be calculated since  the
moment of the expiration of the precedent period.

Article 145 Calculation of a monthly and annually periods
1.    If a period is calculated in months or in years in such a
  way that there is no need for its persistent current, then  a
  month is considered as thirty days, and a year as three hundred
  and sixty five days.
2.    Beginning  of the month is the first date of  the  month;
  middle of the month is the fifteenth of the month; end of the
  month is the last date of the month.

Article 146 Dayoffs (weekends) and holidays
If the expression of the will or the execution of an obligation
must  be done in a certain day or during some period, but  this
day  or  the  day of this period are either being  the  dayoffs
(weekends)  or  being  the day, which is declared  as  a  state
holiday  or  a day-off (or as any other non-working day),  then
the  following working day shall be considered as a day of  the
termination of the period.


                           Section 2
                      Period limitations

Article 147 Definition of the period limitation
1.   The right to demand other person to perform some action or
  to  abstain from this performance is restricted by the period
  limitation.
2.   Period limitation does not apply on:
  a)   personal non-property rights, if otherwise is not foreseen
     by the law;
  b)   requests for the reimbursement of the damage to the life
     or  health  of the person. However, the requests  for  the
     reimbursement of the damage, brought upon the expiration of
     three years since the moment of appearance of the right to
     reimburse such a damage, shall be satisfied not more than for
     three years, precedent to the brought action;
  c)    requests  of the clients of the banks and other  credit
     institutions, concerning their savings brought in there.
3.   The total period limitation shall be ten years.

Article 148. Period limitation for the contract requirements
1.    Period limitation for the contract requirements shall  be
  three  years; period limitation for the contract requirements
  related to the immovable property shall be six years.
2.    Period limitation for the requirements arising out of the
  periodical performance of the obligations shall be three years.
3.    In  a  certain  cases  the law may foresee  other  period
  limitations.

Article 149 Start of period
The  course of the period of limitations shall start  from  the
moment  the demand arises. If a demand relates to the necessity
of  restraining from some action, the course of the  period  of
limitations shall start with the moment of the breach  of  this
demand.

Article 150 Start by action of the creditor
If  the arising of a demand depends on actions of the creditor,
the  course of the period of limitations shall start  with  the
time when the creditor could effect the action thereof.

Article 151 Suspension of the period limitation on agreement
1.    The course of the period of limitations shall suspend for
  the  period  of  delay in the performance of  the  obligation
  (moratorium).
2.    The procedure stated in paragraph one shall not apply  in
  relation  to  the counter-demand the right to  produce  which
  belongs to the creditor.

Article 152 Suspension of the period limitation on the factual
circumstances
1.    Period limitation suspends for the time, during which  an
  authorized  person didn’t have a possibility to  protect  his
  right by means of court due to the suspension of the activity
  of the justice organs, which took place during last six months
  of the period limitation.
2.    The  same rule shall apply if the force majeure  (Act  of
  God) turned out to be an obstacle.
3.    Since the day of the termination of the circumstance that
  was  the ground for suspension of the period limitation,  its
  current  shall  continue. The rest of  the  period  shall  be
  prolonged up to six months; if the period limitation is  less
  than three months, then it shall be prolonged up to the period
  limitation itself.

Article 153 Suspension of the period limitation due to the
family circumstances
Period limitation upon the claims of the spouses to each  other
shall  be  suspended for the time until they are married.  This
rule  also  applies  to the mutual claims of  the  parents  and
children  for  the period of the minority of the  children,  as
well  as  it  applies to the mutual claims of the guardian  and
those  under his wardship for the whole period of the existence
of the guardian.

Article 154 Application of the suspension
Period  of  time,  during which the suspension  of  the  period
limitation  occurs,  shall not be calculated  into  the  period
limitation.

Article 155 Suspension of the period limitation in relation to
the persons, who are limited in legal capacity
1.    If  the  legally incapable person or the  person  who  is
  limited in legal capacity does not have a legal representative,
  then  the period limitation in relation to this person  shall
  terminate only after six months since the occurrence  of  the
  moment, when this person will be recognized as capable or when
  a legal representative will be appointed to it. If the period
  limitation is less than six months, then the established period
  limitation shall be applied instead of six-month period.
2.    The  rules,  which are mentioned in the  part  1  of  the
  present  Article shall not be applied if the person,  who  is
  limited in capacity, does possess a civil-procedural capacity.

Article 156. Interruption in the period limitation by
recognition of the debt
Period limitation is interrupted, if the debtor recognizes  the
requirements of an authorized person by paying part of the debt
or the percents or by other way.

Article 157 Interruption in the period limitation by bringing
an action into the court
Period  limitation  is  interrupted, if  an  authorized  person
brings  an  action  on  satisfaction  or  recognition  of   the
requirement,  or  by  other  way  he  will  try  to  meet   his
requirement by means of application into the state body or into
the  court for issuing of the decision for recognition  of  the
decision of other court. Accordingly, the Article s 157 and 158
of the present Code shall apply.

Article 158 Continuation and termination of the interruption in
the period limitation upon the bringing of an action
1.    Bringing  an action shall terminate interruption  in  the
  period  limitation since the moment when the decision  enters
  into  a  legal force or as a result of the settled  relations
  between the parties by other way.
2.    If the process is interrupted due to the agreement of the
  parties  or  because  the case is not  being  ran,  then  the
  interruption of the period limitation shall terminate since the
  moment of the last procedural action of the parties or of the
  court.  New  period limitation that has commenced  after  the
  interruption, shall be interrupted the same way as  upon  the
  bringing  of an action, when one of the parties restarts  the
  process (case).

Article 159 Interruption in the period limitation upon the
refusal from the action
1.    Interruption  in  the period limitation  shall  not  take
  place,  if  the action will be recalled back or  it  will  be
  refused in rendering of the case by the decision of the court,
  entered into the legal force.
2.    If  an authorized person during six months will bring  an
  action again, then the period limitation shall be considered as
  interrupted by the first action. In relation to this period the
  rules  of  the Articles 153-155 of the present Code shall  be
  applied.

Article 160 Consequences of the interruption in the period
limitation
If  the period limitation is interrupted, then the time,  which
has  expired  before the interruption, shall not be calculated;
the new period limitation shall start only upon the termination
of the interruption.

Article 161 Period limitation on the claim, which has a legal
force
1.    The  claim,  authorized by the (entered  into  the  legal
  force) decision of the court, is expired in ten years, even if
  for  such  type  of  the claims there  is  a  shorter  period
  limitation.
2.    If  an  authorized  claim  provides  in  the  future  the
  performance of the periodically continuous actions, then  the
  shorter period limitation shall be applied.

Article 162 Period limitation upon the succession
If  the  thing, in relation to which there is a property claim,
will go into the possession of the third party in the order  of
succession,  then  the part of the period limitation  (that  is
expired  when  the  predecessor  owned  the  thing)  shall   be
calculated for the benefit of the successor.

Article 163 Consequences of the expiration of the period
limitation
1.   Upon the expiration of the period limitation, the assigned
  person shall have the right to refuse from performance.
2.    Performance  and satisfaction of the claim  with  expired
  period  limitation may not be recalled back, even if  at  the
  moment of performance the assigned person was not aware of the
  expiration of the period limitation. The same rule  shall  be
  applied to the recognition of the contract obligations and to
  the creating of securities.

Article 164 Period limitation upon the additional obligations
Shall  the  period  limitation  on  the  substantive  claim  be
expired,   then   the  period  limitation  on  the   additional
obligations  shall  be expired as well,  even  if  the  special
period limitation for them didn’t expire.

Article 165 Invalidity of the agreement on the change of the
period limitations
Period  limitations and the order of their calculation may  not
be changed by the agreement of the parties.


                            Book 2
                        Law of Property

                           Chapter 1
                           Property

Article 166 Definition
In  accordance  with  the present Code property  shall  be  any
material and immaterial thing and intangible benefit, which may
be  used  and  disposed of by physical and legal  persons,  and
which  may  be acquired without restrictions, unless prohibited
by law and contrary to moral norms.

Article 167 Things
Property may be movable and immovable.

Article 168 Immovable Property
Immovable property includes a land plot, minerals in it, plants
growing on it, as well as buildings and constructions which are
attached to it.

Article 169 Constituent Parts
1.    A  constituent  of property the separation  of  which  is
  impossible  without  destruction of  this  property  or  this
  constituent  or without destroying its essential  constituent
  (purpose)  may  be  an object of an individual  law  only  in
  instances stipulated by law.
2.    The  main  essential constituents of a land plot  include
  buildings,  constructions, and things  that  are  inseparably
  connected with the land plot, not for temporary purposes which
  may be specified by a contract.

Article 170 Accessory/Component Part
1.    Accessory  shall  be  a movable  thing  which  is  not  a
  constituent of a thing, but it is assigned to maintain the main
  thing, connected with by common economic purpose due to which
  it is in a spatial link with the main thing and traditionally
  is considered to be an accessory.
2.   A thing connected with a land plot and its separation from
  land  is  possible without losing cost of goods or  essential
  losses, also shall be deemed an accessory.

Article 171 Specific and Generic Goods
1.    Specific goods are things, which are different  to  other
  things  on  characteristic items. Specific  goods  cannot  be
  replaced by other things.
2.    Generic  goods are things, which are assignable by  items
  all things of this kind have and which are defined by type or
  amount. Generic things can be replaced by other things.

Article 172 Fruits
1.    The  fruit of a thing shall be income, capital  gain  and
  advantage which this thing brings.
2.    The  fruit  of  the right shall be income and  advantages
  received as a result of exercise of this right.
3.    The  fruit  of  a thing and right shall  be  incomes  and
  advantages which this thing or right provide by means of legal
  relations.
4.   Competence to a thing or right shall enable the receipt of
  fruits  from this thing or this right according to the period
  and extent of this competence.
5.    If  a  person is obliged to return fruits, it may  demand
  compensation  of the expenses born in connection  with  these
  fruits, if these expenses are consequence of correct economic
  activity and does not exceed the cost of fruits.

Article 173 Accessory and Limited Rights
1.   An accessory right is one which is linked to another right
  in such a way that it cannot exist without the latter right.
2.    A  limited  right  is one which is derived  from  a  more
  comprehensive right which is burdened with the limited right.

Article 174 Protection of intellectual rights
In   those   areas  provided  by  the  law  a   special   right
(intellectual  property) of a natural or legal person  will  be
recognised upon receipt of the results of intellectual activity
and  will  apply  equally  to  the  form  of  individualisation
(company name, trade mark, service mark).
The  use  of  such rights by third parties can only take  place
with consent of the entitled person.

Article 175 Intangible Assets
1.     Intangible  assets  are  claims  and  rights  which  are
  assignable  or  capable and determined to confer  a  material
  advantage  on  the owner or which entitle the owner  to  make
  claims against a third party.
2.    Life,  health,  dignity of a person,  its  intangibility,
  honour  and  reputation, business reputation,  private  life,
  private and family secrets, choice of place of residence, right
  to  name, copyrights and other private intangible rights  and
  property which a person owns since birth or acquires by reason
  of Law, can only be transferred in those cases provided by the
  Law and in the way particularly provided hereunder. Intangible
  rights  of deceased persons can be exercised by other persons
  including the heirs in those cases provided by Law.


                           Chapter 2
                          Possession

Article 176 Defintion
1.    Ownership arises by means of a volitional achievement  of
  the actual command of the property.
2.    The person who though exercises the actual command of the
  property but in favour of another person and the powers of an
  owner have been received from the person thereof shall not be
  considered to be an owner; the person who has presented powers
  shall be deemed to be an owner.
3.    If  the person owns the thing as an usufructuar, mortgage
  holder, lessee, employer, keeper, or on the basis of any other
  similar legal relation (direct ownership), in virtue of which
  it  is  entitled  or  has to (in relation  to  other  person)
  temporary own the thing, then the latter person is also being
  an owner (indirect ownership).
4.    If  several persons possess parts of property, they shall
  be considered to be owners of individual parts.
5.    If  several persons possess one thing jointly, they shall
  be considered to be co-owners.

Article 177 Termination of possession
1.    Ownership  shall be considered terminated, if  the  owner
  concedes his property for ever or in some other way loses his
  command of it.
2.    A  temporary obstacle to the execution of the power  over
  the thing doesn’t terminate the ownership.

Article 178. Succession
Ownership shall be succeeded by inheritance.

Article 179. Presumption of the ownership
1.   In relation to the possessor of the movable thing it shall
  be considered that he is an owner of the thing. This rule does
  not work in relation to the previous possessor of the thing if
  he  lost this thing or the thing was stolen, or by any  other
  means it gone away from his possession, except for those cases,
  when we speak about money and securities.
2.    In  relation  to  the  previous  possessor  it  shall  be
  considered that he used to be a possessor of the thing during
  the time when he possessed it.

Article 180 Possession in good faith
The  holder  who possesses his property lawfully or  who  as  a
result  of  a  thorough auditing due may  be  deemed  to  be  a
competent person, shall be a holder in good faith.

Article 181 Claim of Return of Holder in Good Faith
If  a holder in good faith is deprived of the property, he  may
demand  from  a new holder that his property be returned.  This
rule  shall  not  apply when a new owner has a  best  ownership
right.  The demand of return may apply also in relation to  the
person  with  a  best ownership right if he has  acquired  this
property by violence or fraud.

Article 182 Claim of Desistment of Holder in Good Faith
If  a  holder in good faith has not been deprived of  property,
but  in  some way or the other he is prevented from  exercising
ownership, he as well as an owner may demand that the obstacles
be  eliminated. Moreover, he may demand compensation  for  harm
caused   by  the  infringement  of  property.  This   rule   on
compensation  for  harm shall apply also  when  the  demand  of
elimination of obstacles is impossible.

Article 183 Defensive Rights of Lawful Holder
1.    A lawful holder cannot be presented a demand on return of
  the  property. Within the lawful ownership fruits of property
  and rights shall be considered his property.
2.    This  rule  concerns also relations between a direct  and
  indirect owners.

Article 184 Duty of Holder in Good Faith to Deliver 1
1.    A  holder  in  good faith who has no ownership  right  to
  property or he has lost this right, shall be obliged to return
  this property to a competent person. Until a competent person
  exercises  this  right, fruits of property and  rights  shall
  belong to the owner.
2.    A holder in good faith may demand from a competent person
  compensation for the improvements and expenses made  for  the
  period of ownership in good faith, as well as the costs  that
  have  not  been  repaid  by using this  property  and  fruits
  received.  The cost of fruits not received through his  fault
  must  be deducted.. Same rule concerns the improvements which
  entailed rise in price of the property, if this rise in price
  did not exist at the moment of return of the property.
3.    A holder in good faith may refuse from returning property
  untill his demands are satisfied.

Article 185 Duty of Holder in Bad Faith to Deliver 2
A  holder in bad faith must return to the competent person both
property and profit, fruits from property or rights. The holder
shall be obliged to compensate for the fruits which he has  not
received through his own fault. He may demand compensation  for
costs  and improvements made only when by the moment of  return
they  entail enrichment of the competent person. Other  demands
in  relation  to  a  holder in bad faith shall  remain  without
changes.

Article 186 Acquisition by Possession
1.    If  a person within five years running possesses property
  like  his  own,  he shall acquire an ownership  right  to  it
  (adverse possession).
2.    The  acquisition  of the ownership  right  shall  not  be
  permitted if the acquirer possessed property in bad faith  or
  afterwards found out that the property did not belong to him.

Article 187 Presumption by Possession
If  the person possessed the thing in the beginning and at  the
end  of  some period of time, then it shall be considered  that
the  person  possessed the thing as an owner during  the  whole
mentioned period.

Article 188 Acquisition by Possession on registered goods
If a person is put in the public register in the capacity of  a
land owner or an owner of some other immovable property in such
a  way  that he did not acquire the ownership right to  it,  he
shall  acquire the ownership right, if registration has existed
for  fifteen years and he has been possessing it for all  these
years as an owner.

Article 189 Termination by reasonable claims
Possession of the thing shall be terminated if the owner brings
a reasonable claims to the possessor.

Article 190 Best Right on Acquisition
The holder who on legal grounds possessed and used property for
more  than ten years shall have a best right to the acquisition
of the property hereof.


                           Chapter 3
                           Property

                           Section 1
                     Contents of property

Article 191 Ambit of Property Right
1.    An  owner  may within the limits established  by  law  or
  other, and in particular, by contract freely possess and  use
  property (a thing), not permit possession of this property by
  other persons, disposition of it, unless neighbours’rights or
  other  third persons’rights are infringed or this act  is  an
  abuse of the right.
2.    An  abuse of the right shall be also such use of property
  which  causes harm, and herewith the privilege of the owner’s
  interests is not specified strictly and the necessity for his
  actions is not justified.
3.    The  right to use shall include also the possibility  for
  the  person not to use his property. The law may establish  a
  duty to use and maintain property unless non-application  and
  lack of maintenance infringe public interests. In this case the
  duty to perform these duties may be laid down on the owner or
  he  may transfer this property into someone else’s use for  a
  respective reward.

Article 192 Extension to Constituent Parts
The  ownership  right  to property shall  extend  also  to  the
constituents of the property hereof.

Article 193 Claim of Transfer, Elimination and Desistment
1.    The owner may demand that the holder return the property,
  except  for  instances  when the  holder  had  the  right  of
  possession of this property.
2.   If the property right is breached by other way, except for
  expropriation of the thing, then the owner may demand to take
  away the breach. If the abuse continues again, the owner  may
  demand to stop this action by bringing an action to the court.

Article 194 Co-Ownership
1.    Common  property shall arise by virtue  of  a  law  or  a
  transaction. Each of the owners may make demands in relation to
  third  persons concerning common property. Each of the owners
  shall have the right to demand and to obtain property only in
  favour of all co-owners.
2.   A thing in common property may be pledged or in some other
  legal way encumbered in favour of and in the interest of one of
  co-owners.
3.    Unless  the  law or a contract establish  otherwise,  the
  common property maintenance costs shall be laid on co-owners in
  equal shares.
4.    Each owner shall have the right of pre-emption of a share
  in common property.


                           Section 2
            Law on Occupiers of Adjoining Property

Article 195 Duty to Exercise Consideration
Owners  of neighbouring land plots or other immovable  property
except for rights and duties stipulated by law must have mutual
respect  for  each other. Any plot or other immovable  property
which may give rise to bilateral influence.

Article 196 Access of Imponderable Substances
1.    The  owner  of the land plot or other immovable  property
  cannot  prohibit the influence of gas, steam,  smell,  smoke,
  noise,  heat,  viabration  or  similar  influence  from   the
  neighbouring  land plot on his own, unless they  prevent  the
  owner from using his plot or insignificantly breach his right.
2.    Same  rule  shall  be  in effect in  instances  when  the
  influence is essential, but it was caused by a regular use of
  the other plot and it cannot be stopped by such measures which
  for this kind of users shall be deemed to be a regular economic
  activity.  If  the owner is obliged to put up  with  such  an
  influence,  he  may  demand from the land  owner  who  exerts
  influence relevant compensation in a pecuniary form, when the
  influence  exceeds  regular use and  economically  admissible
  limits acknowledged for the given location.

Article 197 Dangerous Constructions
The  owner  may  demand  prohibition of  the  construction  and
operation  of  such constructions in relation to  which  it  is
obvious  primordial  that  they  infringe  his  land.  If   the
construction has been erected according to the border  distance
established  by  law,  its  removal may  be  demanded  only  in
instances if the intolerable infringement is already available.

Article 198 Immanent Collapse of Buildings
If  a  neighbouring building threatens to come down on the land
plot,  the owner may demand necessary measures to be taken  for
preventing this threat. It shall not be permissible  to  change
directions  of  underground and sewage waters crossing  several
land  plots  or  to  manupulate them so  that  it  will  entail
reduction  of  the  amount  of water or  deterioration  of  its
quality  on  other land plots. It shall not be  permissible  to
change natural flow of rivers.

Article 199 Falling Fruit
Fruits  that  fell down from the tree or from the bush  to  the
neighbouring land territory are to be considered as the  fruits
from this land territory.

Article 200 Roots and branches from the neighbouring land
territory
Owner  of the land territory may cut and leave at his the roots
of  the tree or of the bush, which ran into his territory  from
the  neighbouring territory. The same rule shall apply  on  the
dangled  branches of the trees and bushes from the neighbouring
land territory.

Article 201 Violation of the land territory borders during the
building
1.    If  the owner of a land territory during the building has
  built  the  part of the neighbouring land territory  with  no
  intent or carelessness, then the neighbour must let happen such
  a  violation of the borders, except for those cases, when  he
  declared  about his objection before or right  after  such  a
  violation of the borders.
2.    In  this  case  the  neighbour shall be  paid  the  money
  compensation.  The  mentioned  compensation  shall  be   paid
  annually, in advance.

Article 202 Passage through somebody else’s possession
1.    If  the land territory does not have connection with some
  public road, with electric lines, gas and water pipelines, then
  the  owner may demand from his neighbours that they would let
  the usage of their lands for the installation of the necessary
  communication. The neighbour, through the territory of whom the
  necessary communication will go through, must be paid the money
  compensation.  Upon the agreement between the  parties,  this
  compensation may be paid in a lump-sum form.
2.    The  obligation to let the passage through the possession
  does  not  arise, if the previous connection  with  the  land
  territory has been destroyed by the arbitrariness actions  of
  the owner.

Article 203 Erection of the frontier boundary path
1.    The  owner of the territory may demand from the owner  of
  the  neighbouring territory to take part in erection  of  the
  strong frontier boundary path or to take part in restoration of
  the  already  existed  boundary path, which  was  effaced  or
  damaged.
2.    The  expenses  for the erection shall be  shared  equally
  between the neighbours, if otherwise does not follow  out  of
  their legal relations.

Article 204 Disputability of the border
1.    If,  due  to  the  disputability it is  not  possible  to
  determine the real border, then the factual possession of the
  neighbours shall be used in determination of the boundary path.
  If the factual possession cannot be established, then the equal
  part of the disputable area shall be added to each of the land
  territories.
2.    If  the  determination of the border according  to  these
  provisions  will  lead to the result, which  contradicts  the
  established  facts  (e.g.,  it does  not  correspond  to  the
  established area of the land territory), then, upon the action
  of one of the parties the court shall determine the border.

Article 205 Joint usage of the frontier facilities
1.    If  two land territories are divided by fence or by other
  facility, then it shall be considered that the owners of  the
  land  territories  are entitled to the  joint  usage  of  the
  facilities, unless some other external elements point out that
  the facility belongs to one of the neighbours.
2.    If  the neighbours are entitled to the joint usage of the
  frontier facility, then each of them may use the facility  in
  such a way that it won’t disturb the neighbour during the joint
  usage.  Expenses for the maintenance of the facility  are  to
  shared equally between the neighbours. As long as one of  the
  neighbours will be interested in existence of this facility, it
  may not be torn off or modified without his consent.


                           Section 3
       Acquisition and termination of the property right

                         Subsection 1
 Acquisition and Termination of Property Rights in Immovables

Article 206 Transfer of Property in Immovables
1.    For  a  transfer of immovables it is necessary  that  the
  transferor declares his consent to registration in a notarial
  document  and  that  the  acquirer accepts  the  declaration,
  whereupon registration must take place in the Public Register
  provided for this purpose. The document can be combined  with
  the  notarial contract of sale. Both the transferor  and  the
  acquirer can apply for registration.
2.   The notarial document must contain an exact description of
the title and transfer. Side considerations can be left out.
Where a party is represented by an appointed representative,
the power of attorney must be fully outlined in the document.

Article 207 Waiver of Right to Immovable
In  case of a waiver of ownership right or some other right  it
shall be necessary to present a statement of a competent person
where  he  waives this right and registration of this statement
in  the  public register. The statement must be handed over  to
the  register  service. Only after that the  statement  on  the
waiver of rights shall acquire a binding force.

Article 208 Presumption of Ownership in Public Register Entry
Proceeding  from  the interests of the acquirer  the  alienator
shall  be  considered to be an owner, if he was  registered  as
such  in  the  public register, except for instances  when  the
acquirer knew that the alienator was not an owner.


                         Subsection 2
  Acquisition and Termination of Property Rights to Movables

Article 209 Transfer of property right
1.    In  order to transfer the property right on movable thing
  it  is  necessary that the owner, on the basis of the  actual
  right, would give the thing to the person who acquires it  in
  virtue  of the concluded agreement on transfer. If the person
  who acquires the thing already possesses the thing, then only
  agreement on transfer of the property right is necessary.
2.    If  the  owner  possesses  the thing,  then  the  factual
  transfer of the thing may be replaced by the agreement between
  the  owner  and the person who acquires; the subject  of  the
  agreement shall be the establishment of the indirect possession
  of the thing by the person who acquires it.
3.   Transfer of the property right is also considered as such,
  when  the  owner gives to the person the right to demand  the
  possession from the third parties.

Article 210 Conscientious acquisition from an unauthorized
person
Due to the alienation the acquisitor becomes the owner, even if
the  thing did not belong to the alienator, but in relation  to
this  fact  the acquisitor is conscientious. The acquisitor  is
not  considered conscientious, if he was aware  or  had  to  be
aware that the thing does not belong to the alienator. The fact
of  conscientiousness must exist before  the  transfer  of  the
thing.

Article 211 Lost things
1.   Property right may not be acquired if the thing was stolen
  from  the owner, or it was lost. The same rule works, if  the
  owner was only an indirect possessor of the thing and if  the
  possessor lost the thing as well.
2.    Given  provisions are not to be applied  in  relation  to
  money  or securities on bearer, and in relation to the things
  that were alienated by means