Article 17. Activities of credit partnerships Chapter 6. Activities of a credit partnership The Law on Credit Partnerships

Home / RLA / Article 17. Activities of credit partnerships Chapter 6. Activities of a credit partnership The Law on Credit Partnerships

1. Credit partnerships are prohibited from carrying out entrepreneurial activities, with the exception of microfinance activities provided for by the Law of the Republic of Kazakhstan "On Microfinance Activities".

2. Credit partnerships carry out their activities on the basis of the rules for the provision of micro–loans, the regulations on the credit committee and the internal rules of the credit partnership, which are approved by the highest body of the credit partnership - the general meeting of participants in the credit partnership.

3. The requirements for the content of the rules for granting microcredits are established by the Law of the Republic of Kazakhstan "On Microfinance Activities".

4. The internal rules of the credit partnership should determine:

1) the structure, tasks, functions and powers of the structural units;

2) the rights and duties of heads of structural divisions;

3) the powers of officials and employees of the credit partnership in carrying out transactions on its behalf and at its expense.

5. The Regulations on the credit committee of a credit partnership must determine:

1) the structure, tasks, functions and powers of the credit committee;

2) responsibility of the members of the credit committee;

3) the procedure for approving loan agreements;

4) the powers of the supreme and executive bodies of the credit partnership, as well as its officials, to make decisions on granting a loan, depending on its 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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