Article 18. Transfer of a share (part of a share) of a participant in a general partnership of the Law On Business Partnerships
1. The transfer of a participant's share (part of a share) to other participants in the partnership or to third parties is possible only with the consent of all other participants.
2. When a share is transferred to another participant in the partnership or to a third party, the entire set of rights and obligations belonging to the participant who has left the general partnership is simultaneously transferred.
3. In the event of the death of a member of the partnership or his declaration as deceased, the legal successor (heir) may, with the consent of all other participants, join the partnership.
4. If the legal successor (heir) refuses to join a full partnership or the partnership refuses to accept the legal successor (heir), he/she shall be paid the value of the share in the property of the partnership belonging to him/her on the basis of succession, determined on the day of the participant's death or declaration of his/her deceased, in accordance with the procedure established by Article 17 of this Law.
The Law of the Republic of Kazakhstan dated May 2, 1995 No. 2255.
President
Republic of Kazakhstan
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