Article 2. The concept of a Limited Liability Company Law on Limited and Additional Liability Companies
1. A limited liability partnership is a partnership established by one or more persons, the authorized capital of which is divided into shares of the sizes determined by the constituent documents; the participants of the limited liability partnership are not liable for its obligations and bear the risk of losses related to the activities of the partnership, within the value of their contributions. Exceptions to this rule may be provided by the Civil Code of the Republic of Kazakhstan and this Law.
A limited liability partnership is considered to be established for an indefinite period, unless the constituent documents of the partnership provide that it is created for a specific period or to achieve a specific goal.
2. A limited liability partnership is a legal entity.
3. A limited liability partnership is liable for its obligations with all its property.
The Partnership is not liable for the obligations of its members.
4. The participants of the partnership who have not fully contributed to the authorized capital are jointly and severally liable for its obligations within the limits of the value of the non-contributed part of the contribution of each participant.
The Law of the Republic of Kazakhstan dated April 22, 1998 No. 220-1.
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
Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases
