Article 377. Termination of the obligation to liquidate a legal entity of the Civil Code of the Republic of Kazakhstan
1. An obligation is terminated by the liquidation of a legal entity (debtor or creditor), except in cases where legislation imposes the fulfillment of the obligation of the liquidated legal entity on another legal entity (for obligations arising as a result of harm to life and health, etc.).
2. Termination of activities or reorganization of State bodies, including local representative and executive bodies, does not entail termination of obligations not fulfilled by these bodies. The fulfillment of these obligations is assigned to the body that has the budget funds at its disposal, unless another State body is designated by a decision to terminate or reorganize the relevant bodies, which is responsible for fulfilling the obligation.
President
Republic of Kazakhstan
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