Article 12. The procedure for making mandatory contributions Chapter 5. Mandatory contributions and additional contributions to a credit partnership The Law on Credit Partnerships

Home / RLA / Article 12. The procedure for making mandatory contributions Chapter 5. Mandatory contributions and additional contributions to a credit partnership The Law on Credit Partnerships

1. To join a credit partnership, a participant makes a minimum mandatory contribution. The initial authorized capital of a credit partnership, formed and paid for in money in the national currency, is equal to the amount of the mandatory contributions of the participants. The ratio of the mandatory contribution of each participant to the total amount of the authorized capital of the credit partnership is the participant's share in the authorized capital of the credit partnership.

2. Excluded by the Law of the Republic of Kazakhstan dated December 23, 2005 No. 107 (for the procedure of entry into force, see art. 2).

3. When depositing money to a member of a credit partnership, a document is issued confirming that the member of the credit partnership has deposited money. The subsequent deposit of money by the participant into the credit partnership and the return of money to the participant must be recorded in the above document.

The Law of the Republic of Kazakhstan dated March 28, 2003 N 400.

This Law defines the legal status, the procedure for the creation, reorganization and liquidation, as well as the regulation of the activities of credit partnerships.

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Republic of Kazakhstan

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