ID :
189996
Tue, 06/21/2011 - 07:27
Auther :
Shortlink :
https://oananews.org//node/189996
The shortlink copeid
Distraining minimum living costs, small-amount insurance to be banned
SEOUL (Yonhap) - Creditors will be prohibited from distraining one's minimum living costs and small-amount insurance for covering actual hospital costs, the government said Tuesday.
The government said a revised enforcement ordinance to the Civil Execution Act passed the Cabinet meeting presided over by Prime Minister Kim Hwang-sik. Parliamentary consent is not necessary to revise an enforcement ordinance.
Under the revised ordinance, at least 1.5 million won (US$1,389) in bank deposits or wages as well as insurance money for hospital treatment and surgery will be protected from distraint, the government said.
Seizure of 10 million won or less in death insurance payments will also be banned to better protect bereaved families from economic difficulties caused by death, it added.
The government said a revised enforcement ordinance to the Civil Execution Act passed the Cabinet meeting presided over by Prime Minister Kim Hwang-sik. Parliamentary consent is not necessary to revise an enforcement ordinance.
Under the revised ordinance, at least 1.5 million won (US$1,389) in bank deposits or wages as well as insurance money for hospital treatment and surgery will be protected from distraint, the government said.
Seizure of 10 million won or less in death insurance payments will also be banned to better protect bereaved families from economic difficulties caused by death, it added.
