Article 17. Consequences of a participant's withdrawal from a general partnership of the Law on Business Partnerships
1. A participant who has withdrawn from a general partnership is paid the value of a part of the partnership's property in proportion to the size of that participant's contribution to the partnership's authorized capital.
2. The value of a part of the property of the general partnership due to the outgoing participant is determined in accordance with the balance sheet of the partnership drawn up at the time of the participant's withdrawal from the partnership, and is paid within 30 days from the date of the participant's actual withdrawal from the partnership.
3. By agreement of the withdrawing participant with the remaining participants, the payment of the value of a part of the property of the general partnership may be replaced by the disbursement of property in kind.
4. The retiring participant is also paid the part of the profit due to him, received by the general partnership in a given year for the period of his stay in the partnership in that year.
5. A participant who has partially contributed to the authorized fund of a general partnership, upon withdrawal, is paid only the value of this part of the contribution, unless otherwise provided by the constituent documents or the agreement of the participants.
6. The property transferred by the outgoing participant to the use of the general partnership is returned without remuneration, unless otherwise established by the constituent documents of the partnership.
6-1. Upon withdrawal of a participant from a full partnership, the allocation of a land plot in kind, the right to which has been transferred as a contribution to the authorized capital of the partnership (including the right to a conditional land share), is carried out in accordance with the procedure established by the land legislation of the Republic of Kazakhstan.
7. Upon the withdrawal of a participant, the shares of the remaining participants in the property of the general partnership shall increase in proportion to their original size established on the date of the participant's withdrawal from the partnership, unless otherwise provided by the constituent documents or the agreement of the participants. <*>
The Law of the Republic of Kazakhstan dated May 2, 1995 No. 2255.
President
Republic of Kazakhstan
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