On 10/24/23 General Resolution IGJ N° 13/2023 became effective. It sets forth the requirements to be complied with to formalize the assignment of saving plans.
i) It should be formalized by using a form issued by the administrator of the plan and before an official car dealer or agent.
ii) The form must include, at least: the issuance date, the value of the money before every deduction and the value of the reimbursement of the plan, both calculated as at the date of request of information by the subscriber of the plan and stating the detailed deductible items and their amount, in the events of assignment of rights of the waived or terminated plans.
The administrator should provide to the assignor the complete form within 10 days following the subscriber’s request.
iii) Alternatively, the assignment may be made through another instrument that contains the same information detailed in paragraph ii) above, that the administrator should provide also within 10 days following the subscriber’s request.
iv) If the assignment contract is executed not within the official car dealers’ or agencies’ network, the act should be notified to the administrator by means of a document letter, detailing the information that should be mandatorily included in the contract, and said notice shall be in charge of the assignor.
iv) Whichever the document is, whereby the assignment is formalized, the assignor and assignee’s signatures included in the form or in the contract should be notarized and legalized by the Association of Notaries Public or otherwise by a competent administrative or judicial authority.
v) If the administrators elect to use a digital form to formalize the assignment of rights contract, they should file before the Superintendency of Corporations the information related to the procedures and tools for its implementation and apply for the relevant modifications in t heir general contracting conditions in order to adapt them to the digital assignment modality to be proposed.
Notwithstanding, the two assignment modalities should be kept at the option of the assigning subscriber.
vi) The administrators shall inform the subscribers on the requirements for the assignment of rights in the installment coupons, in the webpages and other communication channels (social networks, etc.) of the respective companies.
It must be highlighted that the Resolution under analysis regulates the practice carried out up to now by the Administrators as regards the assignment of the saving plans, with special emphasis in the information that the administrators must furnish to assignors, so as to guarantee their right of access to true and detailed information on the situation of their plan.
Likewise, it expressly contemplates the assignment of waived and terminated plans, that contribute to the survival of the savers’ Groups and, at the same time, it implies a solution for the waiving and terminating savers who may recover their money or part of it without having to wait for the end of the Group.