Article 13. Features of the redemption of a participant's share in the authorized capital of a credit partnership of the Law on Credit Partnerships

Home / RLA / Article 13. Features of the redemption of a participant's share in the authorized capital of a credit partnership of the Law on Credit Partnerships

1. When a participant makes a decision to terminate participation in a credit partnership, the partnership has the right, with the consent of this participant, to buy out his share in the authorized capital of the credit partnership within the time limits stipulated by the charter of the credit partnership, but not more than ninety days from the date of the decision by the participant.

2. The repurchase of a participant's share in the authorized capital of a credit partnership provided for in paragraph 1 of this article shall be carried out if the termination of participation in the credit partnership does not lead to a decrease in the number of participants below the minimum number or to a decrease in the authorized capital of the credit partnership below the minimum size.

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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