Article 10. Rights and obligations of members of the company The Law on Mutual Insurance

Home / RLA / Article 10. Rights and obligations of members of the company The Law on Mutual Insurance

1. Members of the company may:

1) use all types of insurance services provided by the company;

2) participate in the management of the company and be elected to its bodies;

3) insure their property interests on the terms defined in the rules of mutual insurance and other documents regulating the company's activities;

4) to receive from the company's bodies any information about their activities, the company's activities, including to get acquainted with accounting data, financial statements and other documentation in accordance with the procedure determined by the company's charter;

5) terminate membership in the company in accordance with the procedure and on the terms stipulated by the articles of association of the company;

6) receive loans from the company within the limits of the redemption amount stipulated by the relevant cumulative insurance contract;

7) receive loans to pay insurance premiums;

8) submit a request for consideration by the executive body of the company for the provision of money to prevent the risk of an insured event;

9) make other contributions for the purposes of the company in the manner prescribed by the articles of association of the company;

10) to appeal to the general meeting of the company's members with complaints about the actions (inaction) of the executive, supervisory and other bodies of the company;

11) to appeal in court against the decisions of the company's bodies affecting the interests of the company's members.

2. The members of the company are obliged to:

1) comply with the articles of association of the company;

2) to comply with the decisions of the company's bodies taken within their competence;

3) timely payment of insurance premiums;

4) pay additional contributions in the amount determined by the general meeting of the company's members in accordance with this Law and the company's articles of association.

3. The Charter of the company may establish other rights and obligations of members that do not contradict the legislation of the Republic of Kazakhstan.

4. A member of the company may not be relieved of his obligations to pay insurance premiums and additional contributions, including by offsetting claims against the company, except in cases provided for in paragraph 3 of Article 22 of this Law.

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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