Article 19. Exclusion of a participant from a general partnership of the Law on Business Partnerships
1. Participants in a general partnership have the right to demand in court the exclusion of one or more participants from the partnership by a unanimous decision of the remaining participants and if there are valid reasons for this, in particular, a gross violation of their duties or a proven inability to conduct business reasonably.
2. A participant excluded from a general partnership shall be paid the value of a part of the partnership's property in accordance with the procedure established by Article 17 of this Law.
3. All losses caused to the partnership by the excluded participant may be recovered from the value of the part of the property of the general partnership paid to the participant in the event of withdrawal by a court decision. If the value of the losses caused to the partnership by the excluded participant exceeds the value of the part of the property paid to it by way of withdrawal, the missing part of the value of the losses is recovered from other property of the excluded participant.
The Law of the Republic of Kazakhstan dated May 2, 1995 No. 2255.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases
