CRA approves individualization of debts with Banco da Terra

The Agriculture and Agrarian Reform Commission (CRA) approved this Tuesday (29/05) a proposal that allows the individualization of rural debts contracted with the Land and Agrarian Reform Fund (Banco da Terra) after approval by the majority of the general assembly of each association, consortium or cooperative. The proposal (PLC 151/2017) goes to the Economic Affairs Committee (CAE).

According to the text, approved by the Chamber of Deputies at the end of 2017, individualization will apply to all beneficiaries of the project after the decision of the general assembly.

The project amends Law 11.775/2008, which established measures to encourage the settlement or regularization of debts originating from rural credit and land credit operations. Today, this law conditions the individualization of contracts to the approval of all beneficiaries of a given project, and not to the decision of the majority.