Article 24. Reorganization of a production cooperative Chapter 6. Reorganization and liquidation of a production cooperative of the Production Cooperative Act
1. A production cooperative may be voluntarily reorganized by a decision of the general meeting of its members in accordance with the procedure established by this Law and the founding documents of the cooperative.
When cooperatives merge and join, the size of the shares of the members of the reorganized cooperatives remains.
2. A production cooperative may be transformed into an economic partnership by a unanimous decision of its members.
3. Other grounds and procedure for reorganizing a production cooperative are determined by the Civil Code of the Republic of Kazakhstan and other legislative acts.
The Law of the Republic of Kazakhstan dated October 5, 1995 N 2486.
President
Republic of Kazakhstan
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