Credit Assignment and/or Assignment of Rights of Investment Certificates
In the case of Investment Certificates issued in the Credit Assignment and/or Rights Assignment to a natural or artificial person, the act by which the Central Bank Legal Department is served notice of the transfer, under the provisions of Article 1690 of Civil Code of the Dominican Republic, shall have attached the following documents:
- Copy of Contract between the assignor and the assignee;
- Copy of both front and back of the Investment Certificate;
- If the assignment is to be effected by endorsement, the Investment Certificate must be signed and sealed by both the assignor and assignee.
If the assignment is to be effected as a Collateral Pledge, the interested party as pledgee must:
- Serve notice of the operation to the Central Bank Legal Department, by means of a letter or sheriff's act, for purposes of implementation and processing in the Treasury Department.
- The notice shall specify whether the attachment encumbers only the Investment Certificate’s capital or both capital and interest.
- It should be kept in mind that the attachment shall remain in effect, pending notification of any act of release applicable to said attachment.