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The Civil Code of the Russian Federation

(with the Additions and Amendments of February 20, August 12, 1996,
October 24, 1997, July 8, December 17, 1999, April 16, May 15,
November 26, 2001, March 21, November 14, 26, 2002,
January 10, March 26, November 11, December 23, 2003)

Part II
Section IV
Chapter 45
Bank Account

Chapter 45. Bank Account

Article 845. The Bank Account Agreement


1. Under the bank account agreement the bank shall undertake to charge cash to the account opened for a client (account holder), to implement the client's instructions on his transfer to, and the withdrawal of, relevant sums of money from the account and on other operations with the account.
2. The bank may use the monetary means placed on the account, while guaranteeing the client's right to make use of these means.
3. The bank shall have no right to determine and control the trends of using the client's monetary funds and introduce other restrictions on his right to dispose of cash at his discretion which are not provided by the law or the bank account agreement.
4. The rules of this Chapter relating to the banks shall also be applicable to other credit organizations in case of the conclusion and execution of the bank account agreement in conformity with the issued permit (license).

Article 846. The Conclusion of a Bank Account Agreement


1. With the conclusion of a bank account agreement an account shall be opened with a bank for the client or the person indicated by him on the terms, agreed upon by the parties.
2. The bank shall be obliged to conclude a bank account agreement with the client who has made his offer to open an account on the conditions announced by the bank for the accounts of the given type, which meet the requirements of the law and the bank rules, established in conformity with it. The bank shall have no right to refuse to open an account, the corresponding operations with which are stipulated by the law, the constituent instruments of the bank and the permit (license) issue to it, except for the cases where such refusal has been caused by the bank's lack of the possibility to accept the account for banking servicing or is admitted by the law or other legal acts.
If the bank evades from the conclusion of a bank account agreement on a groundless basis, the client shall have the right to present to it his claims, provided for by Item 4 of Article 445 of this Code.

Article 847. The Certification of the Right to Dispose of Cash Placed on the Account


1. The rights of the persons who implement the instructions of the client on the transfer and payment of cash from the account shall be certified by the client by means of presenting to the bank of statutory documents in conformity with the bank rules established by the law and the bank account agreement.
2. The client may give instructions to the bank on the write off of cash from the account on the demand of third persons, including t instructions connected with the performance by the client of his obligations to these persons. The bank shall accept these instructions, provided they indicate in writing the necessary data which make it possible to identify the person who has the right to present the relevant claim.
3. The agreement may provide for the certification of rights of disposing of cash placed on the account by the electronic payment facilities and by other documents with the use in them of the analogues of the autograph (Item 2 of Article 160), codes, passwords and other means confirming that instructions have been given by the person authorized therefor.

Article 848. Bank Operations with Accounts


The bank shall be obliged to perform operations for the client, which are provided for the accounts of the given types by the law, the bank rules established by law and the customs of business turnover applicable in banking practice, unless otherwise stipulated by the bank account agreement.

Article 849. Time-limits for Operations with Accounts


The bank shall be obliged to charge cash placed on the client's account within the day that follows the day of the receipt by the bank of the relevant payment document, unless the bank account agreement provides for a shorter period.
The bank shall be obliged to pay out cash or transfer it from the depositor's account within the day that follows the day of the receipt by the bank of the relevant payment document, unless the law, the bank rules introduced in accordance with it or the bank account agreement provide for different time-limits.

Article 850. Account Crediting


1. In cases where in conformity with the bank account agreement the bank makes payments from the account despite the absence of monetary means (account crediting), the bank shall be deemed to grant to a client a credit in the appropriate amount since the day such payment was effected.
2. The rights and obligations of the parties associated with account crediting shall be determined by the rules for loans and credits (Chapter 42), unless the bank account agreement provides otherwise.

Article 851. The Payment of Banking Expenses on Operations with Accounts


1. In cases specified by the bank account agreement the client shall pay for the bank's services involved in the operations with cash placed on the account.
2. A charge for the bank's services, provided for by Item 1 of this Article, may be collected by the bank upon the expiry of each quarter from the monetary means of the client placed on the account, unless otherwise stipulated by the bank account agreement.

Article 852. Interest Paid by the Bank for the Use of Cash on Accounts


1. Unless otherwise stipulated by the bank account agreement, the bank shall pay interest, the amount of which is charged to the client's account, for the use of cash placed on this account. The amount of interest shall be placed on the account within the periods of time, provided for by the agreement, and upon the expiry of each quarter in case where such time-limits are not envisaged by the agreement.
2. Interest, referred to in Item 1 of this Article, shall be paid by the bank in the amount to be defined by the bank account agreement, while in the absence of a relevant clause in the agreement interest shall be paid in the amount, usually paid by the bank for call accounts (Article 838).

Article 853. The Offsetting of the Counter Claims of the Bank and the Client


The bank's monetary claims to the client, associated with account crediting (Article 850) and the payment for the bank's services (Article 851), and also the client's claims to the bank on the payment of interest for the use of cash (Article 852) shall be terminated by offsetting (Article 410), unless otherwise stipulated by the bank account agreement.
Said claims shall be offset by the bank. The bank shall be obliged to inform the client about the offset in the procedure and in the period of time envisaged by the agreement, but if the appropriate conditions are not agreed upon by the parties, the bank shall be obliged to inform the client about the offset in the procedure and in the periods of time which are common for the banking practice of providing clients with information about the state of cash in the relevant account.

Article 854. The Grounds for Writing off Cash from the Account


1. The bank shall write off cash from the client's account on the basis of his instructions.
2. Without the client's instructions cash kept on his account may be written off by a court decision, and also in cases, established by the law or envisaged by the agreement between the bank and the client.

Article 855. The Sequence of Writing off Cash from the Account


1. In the presence in the account of cash whose amount is sufficient to meet all the claims to the account, this cash shall be written off from the account in the procedure of the receipt of the client's instructions and other documents for writing off (calendar sequence), unless otherwise stipulated by the law.
2. If cash is insufficient in the account to meet all the claims made to it, this cash shall be written off in the following sequence: in the first place cash is written off according to the executive documents which provide for the transfer or issue of cash from the account to meet claims for the reparation of harm inflicted on human life and health, and also claims for the recovery of alimony;
in the second place, cash is written off according to the executive documents which provide for the transfer or issue of cash for settlements in the payment of dismissal benefits and labour remuneration with the persons working under a labour contract and in the payment of fees under the author's contract;
in the third place there shall be carried out the write-off on the payment documents stipulating the transfer or issuance of monetary funds for the settlements in the remuneration of labour with the persons working under a labour agreement (contact), and also on the allocations to the Pension Funds of the Russian Federation, the Social Insurance Fund of the Russian Federation and the funds of the obligatory medical insurance;
in the fourth place there shall be carried out the write-off on the payment documents stipulating the payments to the budget and the non-budgetary funds the allocations to which are not stipulated in the third place;
in the fifth place, cash is written off according to the executive documents providing for the satisfaction of other monetary claims;
in the sixth place, cash is written off according to the payment documents in the order of calendar sequence.
Cash shall be written off from the account according to the claims of one turn in the order of the calendar priority of the receipt of documents.

Article 856. The Bank's Liability for Improper Performance of Operations with the Account


In cases where cash is charged to the client's account untimely or where the bank has written it off from the account groundlessly, and also of the non-fulfilment of the client's instructions on the transfer of cash from the account or on the withdrawal of cash from the account, the bank shall be obliged to pay interest on this sum in the order and in the amount, prescribed by Article 395 of his Code.

Article 857. The Bank Secrecy


1. The bank shall guarantee the secrecy of a bank account and a bank deposit, operations with the account and information about clients.
2. Information constituting a bank secrecy may be presented to the clients alone or to their representatives. Such information may be given to state bodies and their officials exclusively in cases and in the procedure, prescribed by the law.
3. In case the bank divulges information constituting the bank's secrecy, the client whose rights have been infringed shall have the right to demand compensation for the losses caused.

Article 858. Restriction on the Disposal of Accounts


No restriction shall be allowed on the client's rights of disposing of cash on his account, exception being made for the attachment on cash kept in the account or for the suspension of account operations in cases, stipulated by the Law.

Article 859. The Dissolution of a Bank Account Agreement


1. A bank account agreement shall be dissolved by the client's application at any time.
2. On the bank's demand the bank account agreement may be cancelled by the court in the following cases: where the sum of money placed on the client's account proves to be below the minimum amount, envisaged by the bank rules or the agreement, unless such sum is restored during one month since the day of the bank's warning about this;
in the absence of operations with the account during one year, unless otherwise stipulated by the agreement.
3. The remainder of cash on the account shall be given to the client or transferred to another account by his instructions within seven days after the receipt of the client's relevant written application.
4. The dissolution of bank account agreement shall be a ground for the closing of the client's account.

Article 860. Bank Accounts


The rules of this Chapter shall extend to correspondent accounts, correspondent subaccounts, other bank accounts, unless otherwise stipulated by the law, other legal acts or the bank rules, introduced in accordance with them.

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