MPs allow use of MTIBU funds for defense during martial law in Ukraine

The Verkhovna Rada of Ukraine has allowed the use of money from the centralized reserve funds of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) for the defense of the state during the introduction of martial law.

"Prohibit any collection from the centralized insurance reserve funds of the Motor (Transport) Insurance Bureau of Ukraine, except for those related to regulatory payments in accordance with the law on compulsory insurance of land vehicle owners' civil liability and with the defense of the state during the introduction of martial law."

This norm is enshrined in law No. 7180 adopted on March 24 on amendments to certain legislative acts of Ukraine to improve the fundamentals of organizing and leading the resistance movement." Its authors were Fedir Venislavsky, Oleksandr Zavitnevych, Andriy Klochko, Ihor Kopytin, Maryana Bezuhla, Ihor Herasymenko (all of the Servant of the People faction).

Some 352 deputies voted for the adoption of the law

In addition, the law establishes that in the event of bankruptcy of the insurer or its liquidation, the balances of funds contributed by it to the centralized insurance reserve funds of the MTIBU cannot be included in the liquidation mass and remain in the centralized insurance reserve funds of the bureau.

Source: www.en.interfax.com.ua