Article 12. The rights of depositors to receive the amount of accumulated money of the Law on Housing Construction Savings in the Republic of Kazakhstan

Home / RLA / Article 12. The rights of depositors to receive the amount of accumulated money of the Law on Housing Construction Savings in the Republic of Kazakhstan

1. In case of non-issuance of a housing loan by a housing construction savings bank upon fulfillment by the depositor of the requirements of paragraph 2 of Article 8 of this Law and provided that the rights under the housing construction savings agreement have not been transferred or pledged in favor of other persons, the bank is liable in accordance with the laws of the Republic of Kazakhstan, and is also obliged to within the time limits stipulated by the terms of the agreement about housing construction savings, in an undisputed manner, at the first request of the depositor, to pay him the amount of accumulated money.

2. (deleted - No. 43 dated 04/14/2005)

3. If a depositor of housing construction savings refuses to receive a housing loan, regardless of whether he fulfills the requirements of paragraph 2 of Article 8 of this Law and prematurely terminates the housing construction savings agreement, he is entitled to receive a state bonus after three years of accumulating money.

If the borrower repays the housing loan within fourteen calendar days from the date of issue of the loan, he is entitled to receive a government bonus after three years of accumulation of money.

The Law of the Republic of Kazakhstan dated December 7, 2000 No. 110.

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