Article 12-1. The procedure for servicing depositors of savings for capital repairs of the common property of the condominium facility of the Law on Housing Construction Savings in the Republic of Kazakhstan
1. In order to provide depositors with savings for the overhaul of the common property of a condominium facility with housing loans, the minimum required amount of accumulated money with accrued remuneration must be at least fifty percent of the contractual amount required for the overhaul of the common property of the condominium facility.
The interest rate on a housing loan may not exceed the interest rate on a deposit by more than three percent per annum.
2. The contractual amount is provided to the depositor of the accumulation of funds for the overhaul of the common property of the condominium object no earlier than three years after the entry into force of the agreement on the accumulation of funds for the overhaul of the common property of the condominium object under the conditions:
1) compliance of the amount of accumulated money with the obligations assumed under the agreement on the accumulation of funds for major repairs of the common property of the condominium facility;
2) achieving the minimum value of the estimated indicator.
When calculating the estimated indicator, the duration of accumulation and compliance with the accumulation conditions determined by the housing construction savings bank are taken into account.
The Law of the Republic of Kazakhstan dated December 7, 2000 No. 110.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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