- Project Runeberg -  A practical guide for Russian consular officers and all persons having relations with Russia /
125

(1916) Author: Alfons Heyking - Tema: Russia
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P. iv., Сн. x.

BILLS OF EXCHANGE.

125

All other formalities necessary in order to safeguard the rights
of persons holding bills of exchange, must be performed in accordance
with local law.1

Since 1903, the New Bill of Exchange Procedure Act is in force
in Russia. Acccording to that Act, a bill of exchange is valid for the
use of the acceptor of the bill for five years after date of payment.
Towards the endorser, or endorsers, such a bill is valid for one year,
but only if it has been protested. Bills payable at sight may be
protested within one year after date of payment. When a bill of
exchange has been duly protested, interest at the rate of 6 per cent,
per annum accrues from the date of payment. In case of non-protested
bills, no interest shall accrue until the bill is brought into court, and
then the interest is fixed at 6 per cent, per annum.

CHAPTER XI.—Certificates Relating to
Russian State Loans.

Any person whose name is entered on the Government loan-books,
and who holds the corresponding bond, is at liberty to transfer such
bond to another person, either by endorsement on the bond itself
or by a testamentary bequest.2 The person so receiving a
loan-bond is at liberty to transfer it to some one else, and so forth.3 If
the person wishing to transfer a bond resides abroad, he must make
a declaration before a Russian Consul to that effect. The signature
to the declaration must be certified by the Consul, and both the
declaration and the bond sent by post direct to the Amortisation
Commission of Imperial Government Loans, at St. Petersburg.4

In the event of the loss of a bond abroad, the owner of the bond
should apply, without delay, to the competent local authorities,
informing them of the loss and giving full particulars of the name
of the person to whom the bond was made out, the value, the loan
to which it relates, and the number of the issue, and requesting a
certificate in duplicate of such notification of loss. Of these
certificates one must be sent to the Commission at St. Petersburg, and
the other to the Russian State Consul of the district in which the
owner of the lost bond resides, in order to acquaint him with the
loss. The Consul must make a separate report to the Commission,
refusing to legalise, certify or attest any documents relating to the
bond that may be presented to him.5

If, after the loss of the bond has been advertised, it is produced,
either to the Commission or to the Consul, a receipt must be given
to the person producing it, the bond itself being retained. The owner
and, if it is produced at a Consulate, the Commission, are advised
of its recovery.®

1 Regulations as to Bills of Exchange, Art. 84.

2 Code of Regulations relating to Credit and Loans, Section II., Art. 89.

3 Ibid., Art. 63. ^ 4 Ibid., Art. 98.

5 Ibid., Art. 131. 6 Ibid., Art. 135.

§§ 104, 105.

Duration
of validity
of bills of
exchange.

§105.
Certificates
relating to
Russian
State Loans.

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