Resolution of the Great Council concerning the interpretation of the Mortgage Note Act
Statutory Text (4 Articles)
1. In the event of a death as referred to in Art. 8 No. 5, upon which the payment of the note is stipulated, the latter may only be terminated with 6 months' notice.
1. Bills of exchange in terms of Art. 11 have a notice period of 6 months for immediate collection.
1. The concession regarding St. John's Day pursuant to Article 17, Paragraph 2, does not apply to any title with a due date other than Martinmas.
2. Closing Sentence: When repaying expired non-terminable notes, unless otherwise specified in the note, the interest rate as per Article 17, Paragraph 3, must be paid, regardless of the interest rate and type of interest (according to traditional law or new interest rates).
1. The Interest Rate in the sense of Art. 17 para. 3 does not apply to callable notes where no backdating of interest maturity occurred, but rather aligns with the principle that interest should accrue for as long as the note debt exists.