Chương II Nghị định 19/2019/NĐ-CP : Quyền và nghĩa vụ của thành viên, chủ họ

Chapter II

RIGHTS AND OBLIGATIONS OF TONTINE MEMBERS AND HOLDERS

Article 15. Rights of members

1. A member of interest-free tontine has the rights to:

a) Contribute single or multiple annuity shares in a tontine opening;

b) Receive annuities;

c) Transfer a part or the entire of annuity shares to other members in accordance with the Civil Code;

d) Request the tontine holder or tontine book keeper to give the tontine book to see, copy and to supply information related to the tontine group.

dd) Request the tontine holder to contribute the annuity share which a member has not contributed on due date, unless otherwise agreed;

e) Request the tontine holder to fulfill his/her obligations in accordance with Article 18 of this Decree;

g) Request other members to fulfill their obligations prescribed in Article 16 of this Decree;

g) Rights of members prescribed in Clause 1 Article 7, Article 9, Article 10 and Article 13 of this Decree;

i) Send notices as prescribed in Article 14 of this Decree in a case where the tontine holder fails to do so;

k) Other rights as per the law and under the tontine agreement.

2. A member of interest-bearing tontine has the rights to:

a) Rights prescribed in Clause 1 of this Article;

b) Offer interest rate at each tontine opening, except for the case specified in Clause 3, Article 20 of this Decree;

c) Receive the annuities before other members if he/she offers the highest interest rate at the tontine opening, unless otherwise agreed;

d) Enjoy interests from the annuity-receiving members.

3. A member of commission tontine has the rights to:

a) Rights prescribed in Clause 1 of this Article in case of interest-free tontine or rights prescribed in Clause 2 of this Article in case of interest-bearing tontine;

b) Agree on the commission for the tontine holder.

Article 16. Obligations of members

1. A member of interest-free tontine has the obligations to:

a) Contribute annuity shares as agreed;

b) Notify new place of residence that any tontine participant changes;

c) Members who receive the annuities are obliged to contribute their respective annuity shares so that other members can receive them until the last member receives the annuities;

d) Obligations of members under Article 10 and Clause 2 of Article 11 of this Decree;

dd) In case of absence of a tontine holder, the member authorized to open and keep the tontine book has the obligations specified in Clause 1 Article 12, Clause 5 and Clause 6 Article 18 of this Decree.

2. A member of interest-bearing tontine has the obligations to:

a) Obligations prescribed in Clause 1 of this Article;

b) Pay interests to other members upon receipt of annuities.

3. A member of commission tontine has the obligations to:

a) Obligations prescribed in Clause 1 of this Article in case of interest-free tontine or obligations prescribed in Clause 2 of this Article in case of interest-bearing tontine;

b) Pay commission to the tontine holder upon receipt of annuities as agreed.

Article 17. Rights of the tontine holder

1. A tontine holder of interest-free tontine has the rights to:

a) Collect annuity shares of members;

b) Request members who fail to contribute their annuity shares to refund the annuity shares contributed on their behalf by the tontine holder;

c) Rights of tontine holder prescribed in Clause 1 Article 7, Article 9, Article 10 and Article 13 of this Decree;

dd) Other rights as agreed upon.

2. A tontine holder of interest-bearing tontine has the rights to:

a) Rights prescribed in Clause 1 of this Article;

b) Receive annuity shares in the first tontine opening without paying interests to other members if the tontine holder is also a member, unless otherwise agreed.

3. A tontine holder of commission tontine has the rights to:

a) Rights prescribed in Clause 1 of this Article in case of interest-free tontine or rights prescribed in Clause 2 of this Article in case of interest-bearing tontine;

b) Enjoy commissions from annuity-receiving members.

Article 18. Obligations of the tontine holder

1. Notify members of the new place of residence which any member changes.

2. Notify those who wish to participate in tontine groups of sufficient number of tontine groups; annuity shares, tontine opening; number of members of each tontine group which he/she acts as the tontine holder.

3. Hand over the annuities to the annuity-receiving members at each tontine opening.

4. Pay annuity shares on behalf of members when members fail to contribute their shares upon the tontine opening, unless otherwise agreed.

5. Let members see and copy the tontine book and supply information related to the tontine upon request.

6. Send notices as prescribed in Clause 1 Article 14 of this Decree.

7. Obligations under Clause 1 Article 12 and Article 13 of this Decree.

8. Other obligations under agreement or as per the law.