Article 11. Rights and obligations of participants in a general partnership of the Law on Business Partnerships

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1. Members of a general partnership have the right to:

1) participate in the management of the general partnership in accordance with the procedure established by this Law and the constituent documents of the partnership, including participating in the distribution of profits received by the partnership;

2) receive full information about the activities of the general partnership, including familiarization with accounting and other documentation of the partnership;

3) to receive profit from the activities of the general partnership, depending on the size of their shares in the property of the partnership, unless otherwise provided by the constituent documents;

4) withdraw from the general partnership in accordance with the established procedure;

5) in case of liquidation of the general partnership, receive a part of its property corresponding to their share in the property of the partnership remaining after settlements with creditors, or its value;

6) to challenge in court the decisions of the partnership's bodies that violate their rights provided for by this Law and (or) the charter of the partnership.

2. Participants in a general partnership may have other rights provided for by this Law, other legislative acts and the constituent documents of the partnership.

3. The waiver or limitation of the rights provided for by this Law and other legislative acts for participants in a general partnership, including by agreement of the participants in the partnership, is null and void.

4. The participants of the general partnership are obliged to:

1) comply with the founding documents of the general partnership;

2) participate in the activities of the general partnership in accordance with the procedure established by the constituent documents, including conducting business on behalf of the partnership or assisting it in carrying out its activities;

3) make contributions in the manner, manner and amount stipulated by the constituent documents of the general partnership;

4) refrain from making transactions on their own behalf and in their own interests that are similar to those that constitute the subject of the partnership's activities;

5) not to disclose information that has been declared a trade secret by the general partnership;

6) notify the executive body of the partnership in writing about the change of place of residence and the details of the identity document.

5. Participants in a general partnership may also bear other responsibilities provided for by this Law, other legislative acts and constituent documents.

6. Agreements of the participants obliging the participants of a general partnership to perform actions that are not included in their duties provided for by this Law, other legislative acts and constituent documents are null and void.

7. If a participant in a full partnership fails to fulfill his duties provided for by this Law, other legislative acts and constituent documents, which caused harm to the partnership or its participants, other participants have the right to demand compensation from such participant, and in case of significant harm, his exclusion from the partnership in court.

The Law of the Republic of Kazakhstan dated May 2, 1995 No. 2255.

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