A pledge is one of the modes of providing of discharging obligations when the creditor - a holder of a pledge in case of non-performance of obligations by debtors obtains the right of priority to other creditors to receive satisfaction at the expense of withdrawal of the pawned property according to the operating legislation of Turkmenistan.

Pledge relations are regulated by the present Law or other legislative acts of Turkmenistan. If according to the international treaty with the participation of Turkmenistan other rules on a pledge were established then the ones which are in legislative acts of Turkmenistan, than the rules of international treaties are used.

1. Any not confiscated from civil circulation property (laud, enterprises, edifices, equipment, other production funds, securities, financial means, which according to the legislation of Turkmenistan is admitted to recovery and also proprietary rights, the object of intellectual property can be the subject of the pledge.The claims of the personal character can not be the subject of the pledge.
2. The Cabinet of Ministers of Turkmenistan determines the list of objects which can not be the subject of the pledge because of historical, cultural or other value, or because of the national security.
3. The right of a holder of a pledge are derivative from his rights as a creditor in the obligation provided by the pledge and their existence in dependence from the fate of the obligation provided by the pledge.

1. The physical, juridical persons and state can by provider and a holder of a pledge (parties of a pledge agreement).
2. The debtor himself and also the third person (guarantor of a thing) can be pledge. the person, whom the subject of a pledge belongs on the right of possession or full economic management or efficient management can be pledge.

The enterprise, the ownership is assigned to the basis of full economic accounting deposits a pledge as a whole, its structural units and subdivisions as the property complexes and also some (separate) buildings and edifices with the permission of the owner of that (this) property. The institution, the right of efficient management of the property to, has the right to hand over to a pledge the property or rights obtained at the expense of incomes from the economics activity permitted to the institution (organisation).

3. In case of pawning of the right, the person , who possessed the right becomes the pledger. The right belonging to several persons together can be pledged with the written consent of all its possessors.
4. Specialised organizations - pawnshops can be established be the state, juridical or physical persons. Their function will be issued of money-loans on property security. Non-government pawnshop carry out their activity on the base of permission of the bodies of local executive power. Banks, the licences to carry out the banking operations are given to be the Central bank belong to the specialised organizations which issue money-loans on security.

1. The pledge arises as a result of a treaty or of a Law.
2. If the pledge arises as a result of the force of the Law, than there had to be indicated in the Law, in the force of what obligations and which property exactly is recognised as being in a pledge.

If had to be stipulated by the Law or a treaty, that the property pawned remains with the pledge or handed over possession of a holder of a pledge or to the third person. The pledge of goods can be carried out by means of handing over the documents which is a security to the holder of pledge to manage goods.

1. Any property which can be alienated according to the legislation of Turkmenistan by the pledger can be the subject of a pledge.
2. The mortgage Law, on the property embraces its articles and inseparable fruits, if the other one is not stipulated be the Law or treaty. The mortgage Law on property can include separable fruits only in cases, in limits and the order stipulated by the Law or a treaty.
3. Spreading of the pledge on the property , which can be obtained by the pledger in future can be stipulated by the treaty or a Law.

1. The property which is in joint ownership can be transferred to a pledge only by the consent of both owners.
2. The mortgage of his share in a common share ownership does not require the consent of others, if the character of the ownership (its divisibility) admits that.
3. The owner of the apartment can transfer it to a pledge be the consent of jointly living members of age of the family.

1. The right on plot of land (including the right to use the right to possess and use), the right on other natural objects (including plots of bowels of the earth, forests, water) and other property rights, except the rights connected with the personality of the creditor and also other rights, yielding of which contracts to the Law a treaty can be the subject of a pledge.
2. The treaty on the pledge can be singed concerning the rights which the pledge can obtain in future.
3. The right with a definite term of validity can be the subject of the pledge only before its expiration period.

The change of the subject of a pledge is admitted only by the consent of a holder of a pledge. The order of the change of the subject of a pledge in the mortgage of goods in circulation is regulated by the article 52 of the present Law.

1. The duty of insurance of the mortgaged property, transferred to the ownership of the holder of a pledge is placed on the holder of a pledge, if the other one is not stipulated by the treaty on the pledge.
2. According to the treaty, the pledger – juridical person can be placed the duty on to insure for the cases of doing actions and taking of regulations (acts) by them ceasing its economic activity or preventing (hindering) it, or unfavourably, effecting it (confiscation, requisition of the property) and also liquidation or recognition of i, as a bankrupt.
3. The pawnshop insures the ownership received as a pledge in its full cost at the expense of pledger according to the evaluation made on the mutual agreement of parties in receiving of the ownership as a pledge.
4. At the beginning of insurance cases, the holder of a pledge has the right of a privileged satisfaction of his demands from the amount of insurance compensation.

In the treaty on the pledge, the name, the place of location of parties, the type of a pledge, the essence of the requirement provided by the pledge, its size and term of performance, inventory, cost and the place of location of the pawned property and the application of one of the parties the agreement has to be achieved should be indicated.

1. The treaty on the pledge has to be concluded in the written form and notary certified and registered, if the other one is not stipulated by the legislation of Turkmenistan.
2. Notary certificate of pledged providing of loan given to the citizen is carried out by means of making certifying note on the notice on giving loan received from the bank or other creditor.
3. The treaty on the pledge providing duties arising from the main treaty, has to be also in the body which certified the main treaty.
4. Condition on the pledge can also be included into the treaty according to which the duty provided by the pledge arises. Such a treaty has to be perfect in the form, set for the treaty on a pledge.
5. The form of a treaty on a pledge is determined according to the place of its conclusion. The treaty on the pledge, concluded out of the territory of Turkmenistan, can not be recognised invalid because of not-observance of the form, if the requirements set by the legislation of Turkmenistan are observed. The form of the treaty on the mortgage (pledge) of buildings, edifices, enterprises, land plots and other objects locating at the territory of Turkmenistan, and also of rolling stock of the railroad, of civil air and river ship registered in Turkmenistan irrespective of the place of conclusion of such treaty is determined by the legislation of Turkmenistan.
6. Rights and duties of the parties of a treaty on the pledge are determined by the legislation of the country, where the party which is the pledge was set, has the place of residence or the main place of activity if the other one is not set by the agreement of parties.

The risk of accidental death of the subject of a pledge is taken by the owner (subject of full economic conducting or operational management) of the pawned property, if the other one is not stipulated by the treaty or legislation acts of Turkmenistan.

1. The mortgage of the real estate and of the rights for it, the pledge of goods in circulation are subjected to the state registration. The Cabinet of Ministers can include the other property, the pledge of which is subjected to state registration into the list of good to be registered. The state registration of the pledge of ownership is carried out by the body authorised by the Cabinet of Ministers.
2. According to the mutual agreement, the registration of the pledge van be stipulated even in the cases, when it is not obligatory (mandatory) by the force of Law (optimal registration of the treaty on the pledge).
3. Obligatory and optional registration create some legal consequences and carried out in the order stipulated by the present Law.
4. The treaty on a pledge subjected to state registration is considered to be concluded from the time of registration of the pledge.
5. In transition of the right on pawned property, subjected to state registration, to the other holder of a pledge, the necessary changes has to be inserted into the registry, which the body realising registration conducts.

Non-observance of the established form of the treaty on the pledge leads to the recognised of the treaty invalid with the consequences stipulated by the legislation of Turkmenistan.

The interested person has the right to appeal the refusal in registration or illegal registration of the pledge in the court, located at the territory of the body realising registration.

The body realising registration of the pledge is obliged to issue the certificate on registration to the holder of the pledge and also extract on the inquiry of the holder of the pledge, of the pledger and other interested people having evidence of real interest.

The state duty for the registration of the pledge, issue of the certificate on registration, and also providing the extract from registry is charged in the size determined by the legislation of Turkmenistan. The applicant the evidence of payment o state duty to the body realising registration. In case of absence of such evidences, the applications on registration of the pledge is not examined.

The body, which is assigned to register the pledge takes responsibility for the insure and compensates the damage caused as a result of infringements of rules of registration by its employees.

1. According to the demand of the pledger, the holder of a pledge is obliged to give him documents, certifying full or partial fulfilment of the obligation for the further insertion of corresponding information into the registry.
2. On the receipt of the documents certifying of a full or partial fulfilment of the obligations provided by the pledge, the body registering the pledge is obliged immediately to insert corresponding note into the registry.

1. The pledgers, registered as the businessmen (entrepreneurs) are obliged to:

Keep entry book of pledges;

Not later than ten days after arising of the pledge insert a note containing information on the type and the subject of the pledge and also the volume of security of the obligation by the pledge;

To give the book for acquaintance to the interested person having the evidences of real interest.

2. The pledger takes responsibility for promptitude and accuracy of insertion of information on the pledge into the entry book of pledges. The pledger is obliged to compensate in full volume the lose to the aggrieved party (persons) which were caused because of the ill-timed insertion of notes into the book, because of their incompleteness and inaccuracy and also deviation from the obligation to give an entry book of pledges for the acquaintance.

The pledger reserves the right to dispose the pawned property, if the other one is not stipulated by the Law or treaty on the pledge.
In this case, transition of the right on the pawned property is possible only after transition of the main debt provided by the pledge to the new pledger.

Re-pawning of the property is admitted, if the one is not stipulated by the legislation of Turkmenistan or previous treaty on the pledge.

1. If the property, which is already serve as the pledge security of the other obligation becomes the subject of a pledge than the lien of the previous holder of a pledge reserves the force.

The demands of the subsequent holder of a pledge are met from the cost of the subject of a pledge after meeting of the demands of the previous holder of a pledge.

2. The pledger is obliged to tell to every subsequent holder of a pledge about all existing pledges of the given property, and also about the character and size of obligations provided by these pledges.

The pledger is obliged to compensate losses which any holder of pledges had as a result of not-fulfilment of that obligation.

At the expense of the pawned property, the holder of a pledge is obliged to meet his demands in full extent, defined to the time of real meeting, including the percentage, losses, caused by exceeding of the time of fulfilment, and in cases stipulated by the Law or treaty, -penalty; necessary expenditures for maintaining the pawned property and expenses to meet the demand provided by the pledge are also subjected to compensation.

1. The holder of a pledge obtains the right to make a claim on the subject of the pledge, if at the moment of beginning of the time f fulfilment of obligations provided by the pledge, it will not be fulfilled, except the cases, when according to the Law or contract such right arises later or according to the Law the recovery can be made earlier.
2. In case of cessation (liquidation) of the juridical person - of the pledger, the holder of a pledge obtains the right make a claim to recovery on the pawned property irrespective of the beginning of the time of fulfilment of the obligation provided by the pledge.

In case of the partial fulfilment by the debtor of the obligation provided by the pledge, the pledge will be kept in the original volume up to the complete fulfilment of the obligation provided by it.

If the subject of the pledge consists of several items or rights, the holder of the pledge according to his choice can receive satisfaction at the expense of all items or rights, or at the expense of one of the item (rights), reserving the opportunity to receive in the future satisfaction at the expense of other items (rights) making up the subject of the pledge.

1. In case of complete satisfaction of the claims (demands) of the holder of the pledge by the third person, his right of the pledge transfer to him together with the right of claim in the order stipulated by the legislation of Turkmenistan for cessation to the claims (demands).
2. If the contract on the pledge was registered than the holder of the pledge obtains the pledge from the time of insertion of corresponding changes into the registry.

1. Handling of recovery on the pawned property is carried out according to the decision of corresponding court, if the one is not stipulated by the Law. In cases, stipulated by the legislation of Turkmenistan, handling of recovery on the pawned property is carried out in indisputable order on the case of executive endorsement of the notary.
2. Realisation of the pawned property which the recovery is treated to is carried out in accordance with the civil legislation of Turkmenistan, if the other one is not stipulated by the contract.

According to the contract on the pledge, the holder of the pledge can be given the right to realise without the court's decision the property pledged to him (from sales, auditors, through commission shop or other ways (by other methods) in exceeding of the fulfilment of obligations. In this case, the minimal sale price is determined in the contract or the order of evaluation or realisation is set.

In case, when the amount of money made in selling of the subject of the pledge is not enough for complete satisfaction of the claims of the holder of the pledge, he has right, of the other one is not stipulated by the Law of contract, to receive the missing amount from other property of the debtor, the recovery is attracted to according to the legislation of Turkmenistan not using, in this case, the privileged based on the right of the pledge.

If the amount of money made in realisation of the subject of the pledge exceeds the size of the claims of the pledge provided by this pledge, margins is returned to the pledger.

1. The pledge has right to cease handling recovery on the pawned property any time before the realisation of the subject of the pledge by means of fulfilment of obligations provided by the pledge.
2. If the obligation provided by the pledge stipulates fulfilment by parts, the pledge has right to cease handling of recovery on the subject of the pledge by menus of fulfilment of expired part of the obligation.

1. The pledge remains in force, if the right of property full economic management of the pawned item passes to the third person, if the other one is not stipulated by the Law.
2. The consequences, indicated in the item 1 of the present article came even in case of passing o rights making the subject of the pledge.

In case when the pledger yields the claim provided by the pledge to the third person in the order established by the Law or transfer of the debt by the pledger to another person, which arose from the obligation provided by the pledge than the pledge remains in force.

1. The right of the pledge ceases:
   - in fulfilment of the obligation provided by the pledge;
   - in death of the pawned property, the holder of the pledge takes responsibility for;
   - in expiration of the term of validity of the right making the subject of the pledge;
   - in passing of the rights, making the subject of a pledge to the holder of the pledge;
   - in case of impossibility for the creditor to receive satisfaction of his claims from the pledge because of expiration of the time of claim;
   - in other cases stipulated by the Law.
2. If the pledge ceases because of the fulfilment of the provided claim. The subject of the pledge which is in disposal of the holder of a pledge, had to be returned to the pledger.
3. In case of refusal of the holder of a pledge to set the financial obligation provided by the pledge to fulfilment, the corresponding amount is paid to the deposit of the notary. If the amount paid to the deposit completely covers debts, the right of the pledge ceases.

The pledge of real estate is recognised as the mortgage when the subject of the pledge stays with the pledger or the third person.

1. Plots of land, perennial plantations, enterprises, buildings, edifices, apartments or other property complexes and other property classified to the real estate by the legislation of Turkmenistan, including the transport vehicles can be the subject of the mortgage.
2. The results of economic or other usage of the real estate including the products, fruits and other incomes are independent subject of the pledge, if it is stipulated by the contract on the mortgage.

Separable fruits can be the subject of the pledge in case, if they do not become the object of rights of the third person since its separation.

1. The contract on the mortgage has to be certified and registered in the notary.
2. The mortgage is registered in corresponding registries or in land-book in the place of location of the enterprise, edifice, building or other property object.

In case of changing the content of obligation provided by the mortgage, and also in passing of the right of property to another person, the additional registration is made the same place where the mortgage is. The violation of the indicated requirement leads to invalidity of the changes made.

3. The body making the state registration of the pledge of the enterprises as a whole is obliged to give information on registration of the pledge to the bodies, keeping the landing book, including the places of the territorially separated subdivisions of the enterprise.

If the other one is not stipulated by the Law or contract, the pledge of a mortgage has right to own and use the subject of the pledge according to its purpose;
To manage the subject of the pledge by means of its separation and handling it over the owner of the debt according to the obligation, provided by the pledge or means of letting.

If the other one is not stipulated by the contract the pledger of the mortgage is obliged:
To insure the subject of the pledge to its full cost at his own cost;
Take measures, necessary for keeping the subject of the pledge including capital and current repairs;
To inform the holder of the pledge on letting of the subject of the pledge;
To provide the property of the same cost, irrespective of the coming of the time, to fulfil obligation in full extent or partially, in case of the death of the mortgage.

1. In case of violation of obligations by the pledger on taking measures needed for keeping the subject of the mortgage, the holder of the pledge has right to claim the fulfilment of the obligation ahead of schedule requiring in case of need the recovery on the subject of the mortgage.
2. In case of violation of obligations on insuring of the subject of the mortgage by the pledger, the holder of the pledge has right to claim the fulfilment of the main debt ahead of schedule or to insure the subject of the mortgage at his own expense but in the interest of the pledger, charging the expenses on insurance from him.
3. The consequences, indicated in the items 1 and 2 of the present article come irrespective of, whether the subject of the mortgage is in the hands of the pledger or the third person. The pledger takes responsibilities to the holder of the pledge for the actions of the third person the same way as for his actions.

1. The contract on the mortgage of civil air, sea and river boats, trains and other transport vehicles has to be certified by the notary.
2. The pledge of transport vehicles is subjected to obligatory registration in the registries which kept by the state organisations which register civil air, sea and river boats and other transport vehicles.

1. During the mortgage of the construction, building or edifice the right for a plot where the indicated objects are located of land simultaneously with them becomes the subject of the pledge. In these cases when the recovery on the subject of the pledge is claimed to the person obtaining construction, building, edifice simultaneously gets the right on the plot of land.
2. If the other one is not stipulated by the Law or contract, the plots of land and also constructions, buildings and edifices located over there become (are) the independent subjects of the pledge.

The mortgage of the plots of land by juridical and physical persons which obtained them in the conditions of the property right is carried out in the order established by the land or other legislation of Turkmenistan.

1. The mortgage of the enterprise is spread on all its property, including capital funds and circulating assets and also on other values, reflected in the independent balance of the enterprise if the other one is established by the Law or the contract.
2. According to the claim of the holder of the pledge the enterprise - the pledger has to present the annual balance to him.
3. In case of not fulfilment of the obligation by the enterprise provided with the mortgage, the holder of the pledge has right to take measures on improvement of the financial situation of the enterprise, stipulated by the contract of the mortgage, including the appointment of the representatives to the managing bodies of the enterprise, restriction of the right to dispose the produced products and property of the enterprise. If the indicated measures did not give corresponding (positive) results, the holder of the mortgage has right to claim for recovery to the enterprise.
4. If that is stipulated by the contract or Law, the enterprise transfers to the holder of the pledge. On this case, the final evaluation of the subject of the pledge is determined at the moment of transition of the enterprise but only according to the agreement the pledger and the holder of the pledge, but in case of dispute on this issue - according to the decision of the corresponding court.
5. In case of the absence of the condition indicated in the item 4 of the present article in the contract or Law the enterprise the recovery claimed on and being in the mortgage is sold in auction as united complex in the order stipulated by the legislation of Turkmenistan . in this case the plot of land reregistered on the new landowner (land-user).

The pledger has right to fulfil the obligation provided with the mortgage at any time, if the contract on the mortgage excludes the opportunity of further pledge of the same subject of the mortgage.

1. According to the contract on the pledge of goods in circulation the pawned property stays in the ownership of the pledger. He has right to realise this property in condition of simultaneous repayment of a debt on the obligation provided by the pledge or changing worn out property by another homogeneous property on the same or bigger sum of money.
2. In case of the pawning of goods in processing the pawned property staying in ownership of the pledge can be processed at his production, in this case the right of a pledge is spread also on the product, (semi-finished products, finished commodity ) which are the products of a such processing.
3. The raw materials, semi-finished products, associated items and ready products can be the subject of the pawning of goods in circulation and processing.

In pawning good in circulation or processing the pledger reserves the right to own, use and dispose the subject of the pledge.

1. In pawning of goods in processing, hanging of content and natural form of the subject of a pledge (commodity stocks, raw materials, materials, semi-finished products, ready products, etc.) is admitted in case, that their total value, in this case does not become less than the one indicated on the contract on the pledge
2. In pawning goods in circulation the realised goods by the pledger cease to be the subject of the pledge since handling it to the person who obtained goods or transport organisation for sending goods to the owner or handing them over the post-office for sending it to the owner of the goods, but the goods obtained by the pledger which are stipulated in the contract on the pledge become the subject of the pledge since establishment of the right of property on them (full economic managing or operative management).
3. In case of failing of the pawned goods, the pledger is obliged to change them by other goods of the same or bigger cost. Decrease of the cost of the changed good is admitted only in cases when that is made equivalently to repaid share of the initial debt.

1. Mortgage is a pledge of personnel property in which the property is the subject of the pledge, is transferred by the pledger to the ownership of the holder of the pledge.
2. According to the agreement between the holder of a pledge and the pledger, the subject of the mortgage can be left at the pledger under the lock and the seal of the holder of the pledge (hard pledge). Individually defined thing can be left in ownership of the pledger putting signs on it certifying about the mortgage.

1. The holder of the mortgage has right to use the subject of the mortgage directly stipulated by the contract on the pledge. The profits and other property benefits obtained by the holder of the pledge as a result of use of the subject of the mortgage are directed to cover expenses for maintaining the subject of the mortgage and also counted towards repayment of the interest on the debt or the debt itself on the obligation provided by the mortgage.
2. If real threat of loss, shortage or damage of the subject of the mortgage arises not because of the holder of the pledge, he has right to demand changing of the subject of the mortgage and in case of refuse of the pledger to meet this demand - to claim the recovery on the subject of the mortgage before the beginning of the time of fulfilment of the obligation provided by the mortgage.

1. In the mortgage the holder of the pledge if the other one is not stipulated by the contract is obliged:
   - to insure the subject of the mortgage at its full cost at the expense and in the interests of the pledger;
   - to take measures needed for keeping of the subject of the mortgage;
   - immediately to inform the pledger on the threat of loss or damage of the subject of the mortgage;
   - regularly to report the pledger on the use of the subject of the mortgage;
   - to return immediately the subject of the mortgage after fulfilment of the obligation provided by the mortgage, pledger or the third person;
   - to make profits from the subject of the mortgage in the interest of the pledger in cases stipulated by the contract;
   - to pay taxes and duties connected with owning over thing at the expense of the pledger.

Article 56. The responsibility of the holder of the pledge for safety of the subject of the pledge in the mortgage.

1. In the mortgage the holder of the pledge takes responsibility for the death and shortage of the subject of the pledge in the size of the cost of the loss and for the damage of the subject of the pledge in the size of money to which the cost of the pawned thing decreased. In cases when in acceptance of the thing to the mortgage the evaluation of the subject of the pledge was made the responsibility of the holder of the pledge should exceed the indicated evaluation.
2. If that is stipulated by the Law or contract, the holder of the pledge has to compensate all losses to the pledger in full extent caused by the loss, shortage or damage.
3. The holder of the pledge is exempted from the responsibilities for the loss, death or damage of the subject of the pledge if he proves that the indicated consequences have happened nor because of him.
4. If the holder of the pledge is a pawnshop or another organisation which giving money to the citizens for the pledge is the purpose of the economic (business) activity they can be exempted from responsibility if the holder of the pledge proves that the loss , death or damage of the subject of the pledge has happened because of irresistible force or intention or because of the carelessness of the pledger.

If the holder of the pledge keeps or uses the subject of the pledge not the right way, the pledger has the right to demand the cessation of the pledge at any time or fulfil the obligation provided by the mortgage ahead of schedule.

1. The contract of the pledge of the property is formed in the pawnshop by means of giving of the personnel pledge ticket by the pawnshop, which is signed by both parties. The pledge of the property for providing banking loans is formed by means of giving of the pledge certificate to the pledger. The form of the ticket and certificate is certified by the Central Bank of Turkmenistan.
2. The pawnshop (other organisation making the pawnshop operations)is obliged to insure the property accepted to a pledge at the expense of the pledger according to evaluation made during receiving of the property to a pledge according to the agreement of the parties.
3. In case of non-payment of the loan provided by the pledge in time, pawnshop (or other organisation) has right to sell through commission shop this property at the real cost but not less than fixed evaluation. After payment of the debt or other expenses (article 26) the remainder of the received sum is immediately returned to the pledge.
4. Regulation on the pawnshop is certified by the Cabinet of Ministers of Turkmenistan.
5. The pawnshop based on non-state forms of ownership, and also other organisation making the pawnshop operations are guided in their activity by the present Law and their Charter.

1. Together with the conditions stipulated by the articles 12 and 13 of the present Law, in the contract on the pledge, it had to be indicated the person which is the debts ij relation to the pledger. The pledger has to inform his debtor about the pawning of right which has taken place. If the other one is not established by the contract on the pawning of rights, the person who is the debtor in relation to the pledger, has to fulfil the obligation to the holder of a pledge.
2. The cost of the subject of the pledge in the contract on the pawning of the rights having no monetary evaluation is determined according the agreement of parties.

1. In pawning rights, if the other one is not stipulated by the contract, the pledger is obliged:

1. To make actions, need to provide the reality of the pawned right;
2. Not to make concession of the pawned right;
3. Not to make actions, causing the cessation of the pawned right;
4. Take measures, need for protection of the pawned right from encroachment of the third persons;
5. To notify the holder of the pledge on changing has taken on the pawned rights, its violation by the third persons and on claims of third persons to that right.

2. Rules, stipulated in the item 1 of the present article are used to the successors of the pledger concerning to the pawned right.

In pawning rights, if the other one is not stipulated by the contract, the holder of a pledge has right to:
- to demand in the court transition of the pawned right to him for the period up to repayment of the obligation provided by the pledge irrespective of the tine of beginning fulfilment of the obligation provided by the pledge, if the pledger did not fulfil obligations stipulated by the article 60 of the present Law;
- to join a business as a the third person, where a claim on the pawned right is considered;
- independently take measures needed for defending of the pawned right from violation of the third persons in case of non-fulfilment of the obligations by the pledger, stipulated by sub-clause 'g' of the article 60 of the present Law.

The contract on pawning right on the plots of land, plots of forests, bowels of the earth, water has to be certified and certified in the notary.

1. If the debtor of the pledger will fulfil his obligation before the fulfilment by the pledger of the obligation provided by the pledge than every thing received by the pledger becomes the subject of the pledge and the pledger is obliged to inform the holder of the pledge about that immediately.
2. In receiving of the sum of money from his debtor at the count of fulfilment of obligation the pledger is obliged according to the claim of the holder of a pledge to transfer corresponding account of money to the count of fulfilment of the obligation provided by the pledge, if the other one is not fixed by the contract on the pledge.

1. The pawning of the bill or any other security, which can be transferred by means of endorsement is made by means of endorsement or handing of endorsed security to the holder of pledge, of the other one is not stipulated by the Law or the contract.
2. Pawning of the security, not transferred by means of endorsement is made by means of agreement of the holder of a pledge and the person on whose name the security was issued.

If the other one is not stipulated by the Law or contract, certificates on interests, dividends and other profits from the right expressed in the security are the objects of the contract on the pledge only in case, if this certificates are transferred to the creditor of the pledge obligation.

If after conclusion of the contract on a pledge, the rules making worse the situation of the pledger and (or) the holder of a pledge were fixed, then the conditions of the contract are in force for the whole of its action.

PRESIDENT OF TURKMENISTAN
SAPARMURAT TURKMENBASHY