Article 1. The basic concepts used in this Law Chapter 1. GENERAL PROVISIONS of the Law on Mutual Insurance

Home / RLA / Article 1. The basic concepts used in this Law Chapter 1. GENERAL PROVISIONS of the Law on Mutual Insurance

The following basic concepts are used in this Law:

1) an additional contribution is a part of the insurance premium additionally paid by a member of the mutual insurance company in accordance with the procedure and cases provided for by the rules of mutual insurance of the mutual insurance company.;

2) mutual insurance is one of the forms of insurance in which each policyholder is a member of a mutual insurance company;

3) a mutual insurance company (hereinafter referred to as the company) is a legal entity established in the organizational and legal form of a consumer cooperative for the purpose of mutual insurance of the property interests of its members;

4) authorized body - a state body that carries out state regulation, control and supervision of the financial market and financial organizations.

The Law of the Republic of Kazakhstan dated July 5, 2006 No. 163.

This Law regulates public relations related to the implementation of mutual insurance and establishes the legal basis for the activities of mutual insurance companies.

President

Republic of Kazakhstan

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