Article 10. The Board of the Credit partnership The Law on Credit Partnerships
1. The Management Board of the credit partnership is elected by the general meeting of participants and manages the day-to-day activities of the credit partnership.
The Management Board of the credit partnership annually reports to the general meeting of the participants of the credit partnership on the results of its activities.
2. The powers of the Board of the credit partnership include:
1) preparation of proposals on the adoption of the internal rules of the credit partnership and on their subsequent amendment;
2) preparation and submission of proposals on credit and investment policy for consideration by the general meeting of participants of the credit partnership, development of rules on internal credit policy and the credit committee of the credit partnership;
3) preparation and presentation of the annual cost and income estimates and the report on its execution;
4) preparation and presentation of annual financial statements;
5) setting the amount of remuneration for employees;
6) preparation of documents on the acceptance and withdrawal of participants from the credit partnership and their submission to the general meeting of participants of the credit partnership;
7) exercise of other powers related to the day-to-day activities of the credit partnership and not constituting the exclusive competence of the general meeting of participants of the credit partnership.
By the General Meeting of the participants of the credit partnership, the following exclusive competencies of the general meeting of the participants of the credit partnership may be delegated to the Management Board of the credit partnership:
acceptance (withdrawal) of members of the credit partnership;
formation of accounting policy.
amendment of the charter of the credit partnership or its approval in a new edition in connection with the admission (retirement) of the members of the credit partnership.
3. The Management Board cannot be a single body and the number of its members must be an odd number, but not less than three. The Management Board is headed by the chairman, who is elected by the general meeting of the participants of the credit partnership.
By decision of the general meeting of participants of the credit partnership, the chairman and (or) members of the management board may be elected from among persons who are not members of the credit partnership. At the same time, the management board must include one or more members of the credit partnership.
4. Meetings of the Management Board are held as necessary, but at least once a month.
The Management Board is authorized to resolve issues submitted for its consideration if at least two thirds of its members participate in the meeting. Decisions are made by a majority vote of the Board members present.
The footnote. Article 10 as amended by the Law of the Republic of Kazakhstan dated 28.10.2019 No. 268-VI (effective ten calendar days after the date of its first official publication).
The Law of the Republic of Kazakhstan dated March 28, 2003 N 400.
This Law defines the legal status, the procedure for the creation, reorganization and liquidation, as well as the regulation of the activities of credit partnerships.
Article 10. The Board of the Credit partnership The Law on Credit Partnerships
1. The Management Board of the credit partnership is elected by the general meeting of participants and manages the day-to-day activities of the credit partnership.
The Management Board of the credit partnership annually reports to the general meeting of the participants of the credit partnership on the results of its activities.
2. The powers of the Board of the credit partnership include:
1) preparation of proposals on the adoption of the internal rules of the credit partnership and on their subsequent amendment;
2) preparation and submission of proposals on credit and investment policy for consideration by the general meeting of participants of the credit partnership, development of rules on internal credit policy and the credit committee of the credit partnership;
3) preparation and presentation of the annual cost and income estimates and the report on its execution;
4) preparation and presentation of annual financial statements;
5) setting the amount of remuneration for employees;
6) preparation of documents on the acceptance and withdrawal of participants from the credit partnership and their submission to the general meeting of participants of the credit partnership;
7) exercise of other powers related to the day-to-day activities of the credit partnership and not constituting the exclusive competence of the general meeting of participants of the credit partnership.
By the General Meeting of the participants of the credit partnership, the following exclusive competencies of the general meeting of the participants of the credit partnership may be delegated to the Management Board of the credit partnership:
acceptance (withdrawal) of members of the credit partnership;
formation of accounting policy.
amendment of the charter of the credit partnership or its approval in a new edition in connection with the admission (retirement) of the members of the credit partnership.
3. The Management Board cannot be a single body and the number of its members must be an odd number, but not less than three. The Management Board is headed by the chairman, who is elected by the general meeting of the participants of the credit partnership.
By decision of the general meeting of participants of the credit partnership, the chairman and (or) members of the management board may be elected from among persons who are not members of the credit partnership. At the same time, the management board must include one or more members of the credit partnership.
4. Meetings of the Management Board are held as necessary, but at least once a month.
The Management Board is authorized to resolve issues submitted for its consideration if at least two thirds of its members participate in the meeting. Decisions are made by a majority vote of the Board members present.
The footnote. Article 10 as amended by the Law of the Republic of Kazakhstan dated 28.10.2019 No. 268-VI (effective ten calendar days after the date of its first official publication).
The Law of the Republic of Kazakhstan dated March 28, 2003 N 400.
This Law defines the legal status, the procedure for the creation, reorganization and liquidation, as well as the regulation of the activities of credit partnerships.
President
Republic of Kazakhstan
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