Article 36. Features of termination of a limited partnership of the Law on Business Partnerships
1. A limited partnership, in addition to the grounds specified in Article 9 of this Law, shall also be terminated in the event of the retirement of all general partners or all contributors from it.
A limited partnership is maintained if at least one general partner and one contributor remain in it.
2. The general partners remaining in the limited partnership, within six months from the date of the last depositor's departure, or the investors remaining in the partnership, within six months from the date of the last full partner's departure, have the right to accept new participants into the partnership in order to preserve the partnership. In this case, the general partners or individual investors also have the right to transform the limited partnership into a general partnership.
3. If only the general partners or only the depositors remain in the limited partnership, they also have the right to perform the actions provided for in paragraph 3 of Article 25 of this Law.
4. In the event of liquidation of a limited partnership, depositors have a pre-emptive right over general partners to receive contributions from the property of the partnership remaining after satisfying the claims of its creditors. The remaining property of the limited partnership shall be distributed among the general partners and depositors in proportion to their contributions to the partnership's property, unless a different procedure is established by the constituent documents.
The Law of the Republic of Kazakhstan dated May 2, 1995 No. 2255.
President
Republic of Kazakhstan
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