Lag om ändring av lagen om hypoteksföreningar | 595 — Finland law | Esheria

Lag om ändring av lagen om hypoteksföreningar

At least half of the founders of a mortgage association must live in the EEA, unless the Financial Supervisory Authority grants permission to depart from that requirement.

Jurisdiction
Finland
Instrument
Act or statute
Citation
595
Version
Undated source snapshot
Language
sv
Official source
View official record ↗
demerger procedure establishment local residence requirement merger procedure mortgage associations supervision supervisory decision surplus disposition

Statute overview

About this statute

At least half of the founders of a mortgage association must live in the EEA, unless the Financial Supervisory Authority grants permission to depart from that requirement. At least half of a mortgage association’s board members and its CEO must live within the European Economic Area, unless the Financial Supervisory Authority grants an exemption. Any remaining property is to be used for purposes set out in the association’s bylaws, and the Finnish Financial Supervisory Authority may decide on the use of the surplus if needed. Finansinspektionen may issue detailed rules, in individual cases, about the procedure for merging mortgage associations or dividing one mortgage association into several independent ones.

Available versions

  • Undated version · current

    fi

  • Undated version · current

    sv

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