Article 10. Creation of the Endowment Fund of the Law on Endowment Funds and Endowment Funds (Endowments)

Home / RLA / Article 10. Creation of the Endowment Fund of the Law on Endowment Funds and Endowment Funds (Endowments)

1. The Endowment Fund is created by its formation on the basis of the decision of the founders, which contains the following information:

1) the name and location of the founders;

2) the size of the endowment fund (endowment capital), the procedure and timing of its formation and (or) replenishment;

3) the procedure for managing the endowment fund and its assets;

4) the validity period of the endowment fund (endowment capital);

5) written consent of the beneficiary to finance the objects of charity provided for by the endowment fund (endowment capital) charitable program;

6) written consent of the beneficiary to use his name or designation when determining the purpose of the endowment fund (endowment capital).

2. The property of the endowment fund consists of:

1) voluntary donations from individuals and legal entities;

2) property transferred under the trust management agreement (agreements);

3) endowments (target deposits) from individuals and legal entities transferred under the target deposit agreement(s);

4) contributions from the founders of the endowment fund;

5) investment income from asset management of the endowment fund (endowment capital);

6) other sources not prohibited by the laws of the Republic of Kazakhstan.

3. The beneficiaries of the endowment fund are determined by its constituent documents or the decision of the Board of Trustees on the establishment of an endowment fund (endowment capital), a donation, donation, endowment contribution agreement(s), as well as a will in accordance with the civil legislation of the Republic of Kazakhstan, taking into account the specifics provided for by this Law.

4. The Endowment Fund acquires the rights of a legal entity from the moment of its state registration.

The state registration of the endowment fund is carried out in accordance with the procedure established by the legislation of the Republic of Kazakhstan on state registration of legal entities and registration of branches and representative offices.

5. The structure and management bodies of the endowment fund, as well as other information specified in paragraphs 1 and 2 of this Article, are established in its charter in accordance with the legislation of the Republic of Kazakhstan on non-profit organizations, taking into account the specifics of this Law.

6. The foundation documents of the endowment fund are the foundation agreement and the charter approved by the founders, which is being developed in accordance with the standard charter of the endowment fund.

The Law of the Republic of Kazakhstan dated June 30, 2025 No. 199-VIII SAM.

This Law regulates public relations that arise during the creation, management and liquidation of endowment funds, the formation, replenishment, and dissolution of endowment funds (endowment funds) and the use of their investment income, and the trust management of assets of endowment funds (endowment funds).

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