Article 10. Termination of obligations under the micro-credit agreement of the Law on Microfinance Activities

Home / RLA / Article 10. Termination of obligations under the micro-credit agreement of the Law on Microfinance Activities

1. Obligations under the micro-credit agreement are terminated on the grounds provided for by the civil legislation of the Republic of Kazakhstan.

2. The limitation period at the request of microfinance organizations against borrowers for improper performance of microcredit agreements is five years.

The Law of the Republic of Kazakhstan dated November 26, 2012 No. 56-V.

This Law regulates public relations related to the provision of micro-loans, establishes the specifics of the creation and reorganization of organizations engaged in microfinance activities, the legal status, activities of organizations engaged in microfinance activities, and also defines the specifics of state regulation of organizations engaged in microfinance activities, control and supervision of their activities.

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Republic of Kazakhstan

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