LRF (Aula 35) Garantia e Contragarantia (Art. 40)

Want to help the channel grow and get more free videos? And also access the class slides? Subscribe and subscribe to the channel! This is very important to maintain our project! =) https://www.youtube.com/sponsor_chann... Contact: [email protected] Instagram: diegojacques_ Art. 40. Entities may grant guarantees in internal or external credit operations, subject to the provisions of this article, the rules of art. 32, and, in the case of the Union, the limits and conditions established by the Federal Senate and the rules issued by the Ministry of Economy regarding the classification of borrowers' repayment capacity. (Amended by Complementary Law No. 178 of 2021) § 1. The guarantee shall be subject to the provision of a counter-guarantee, in an amount equal to or greater than that of the guarantee to be granted, and to the entity requesting it fulfilling its obligations to the guarantor and its controlled entities, subject to the following: I - no counter-guarantee shall be required from agencies and entities of the entity itself; II - the counter-guarantee required by the Union from a State or Municipality, or by States from Municipalities, may consist of the earmarking of directly collected tax revenues from constitutional transfers, granting the guarantor powers to retain them and use the respective amount to settle the overdue debt. § 2. In the case of a credit operation with an international financial organization or a federal credit and development institution for the transfer of external resources, the Union will only provide a guarantee to an entity that meets, in addition to the provisions of § 1, the legal requirements for receiving voluntary transfers. § 3 (VETOED) § 4 (VETOED) § 5. Any guarantee granted above the limits set by the Federal Senate is void. § 6. Entities under indirect administration, including their controlled and subsidiary companies, are prohibited from granting a guarantee, even with funds. § 7. The provisions of § 6 do not apply to the granting of a guarantee by: I - a controlled company to its subsidiary or controlled company, nor to the provision of a counter-guarantee under the same conditions; II - a financial institution to a national company, in accordance with the law. § 8. The provisions of this article are exempt from the guarantees provided: I - by state-owned financial institutions, which shall be subject to the rules applicable to private financial institutions, in accordance with the relevant legislation; II - by the Union, pursuant to federal law, to financial companies directly or indirectly controlled by it, regarding export credit insurance transactions. § 9. When honoring the debt of another entity, due to a guarantee provided, the Union and the States may condition constitutional transfers on the reimbursement of that payment. § 10. Any entity of the Federation whose debt has been honored by the Union or a State, due to a guarantee provided in a credit transaction, shall have access to new credit or financing suspended until the aforementioned debt is fully paid off. § 11. Any change in the methodology used to classify the payment capacity of States and Municipalities must be preceded by a public consultation, ensuring the entities' express opinions. (Included by Complementary Law No. 178, of 2021)