Article 1. The basic concepts used in this Law Chapter 1. General provisions The Law on Compulsory Insurance of Civil Liability of Private Notaries

Home / RLA / Article 1. The basic concepts used in this Law Chapter 1. General provisions The Law on Compulsory Insurance of Civil Liability of Private Notaries

The following basic concepts are used in this Law:

1) private notary is a citizen of the Republic of Kazakhstan who carries out notarial activities without forming a legal entity on the basis of a license for the right to carry out notarial activities and has passed registration with the territorial body of justice.;

2) civil liability of a private notary is the obligation of a private notary, established by the civil legislation of the Republic of Kazakhstan, to compensate for damage caused as a result of notarial acts;

3) beneficiary – a person who, in accordance with this Law, is the recipient of an insurance benefit;

4) insured event – an event, upon the occurrence of which the insurance contract provides for the insurance payment;

5) insurance Ombudsman – an individual who is independent in his activities and settles disputes between insurance market participants in accordance with the Law of the Republic of Kazakhstan "On Insurance Activities";

6) insurance amount – the amount of money for which the insured object is insured and which represents the maximum amount of liability of the insurer upon the occurrence of an insured event;

7) insurance premium – the amount of money that the policyholder is obliged to pay to the insurer for the latter's acceptance of the obligation to make insurance payments to the beneficiary in the amount determined by the contract of compulsory insurance of civil liability of a private notary;

8) insurance payment – the amount of money paid by the insurer to the insured (beneficiary) within the limits of the insured amount upon the occurrence of an insured event;

9) an insurer is a legal entity registered as an insurance organization and licensed to carry out insurance activities, which is obliged, upon the occurrence of an insured event, to make an insurance payment to the policyholder or another person in whose favor the contract was concluded (to the beneficiary), within the limits of the amount of insurance determined by the contract.;

10) the policyholder is a private notary who has concluded a contract of compulsory insurance of civil liability of a private notary with the insurer.;

11) third party – a person who is not a party to the contract of compulsory insurance of civil liability of a private notary, whose property interests have been harmed when a private notary performs professional duties related to performing notarial acts, for which a private notary, in accordance with the legislation of the Republic of Kazakhstan on notaries, is obliged to conclude a contract of compulsory insurance of civil liability a private notary;

12) deductible – the insurer's exemption from compensation for losses not exceeding a certain amount.

The Law of the Republic of Kazakhstan dated June 11, 2003 No. 435.

This Law regulates public relations arising in connection with compulsory insurance of civil liability of private notaries, and establishes the legal, economic and organizational basis for its implementation.

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Republic of Kazakhstan

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