Article 20. Rights and obligations of the liquidation commission The Law on the Insurance Benefit Guarantee Fund
1. The Liquidation Commission has the right to receive notifications from the Fund on the implementation of a guarantee payment to creditors of an insurance organization being forcibly liquidated, which is forcibly terminating the activities of a branch of a non-resident insurance organization of the Republic of Kazakhstan.
2. The Liquidation Commission is obliged to:
1) provide authorized representatives of the Fund with access to information and documentation related to the process of liquidation or forced termination of the activities of a branch of a non-resident insurance organization of the Republic of Kazakhstan, with the right to receive copies and extracts from documents;
2) immediately notify the Fund of the termination of its obligations to the creditor;
3) provide the information and documents requested by the Fund regarding the concluded insurance contracts.
3. The Liquidation Commission has other rights and carries other duties stipulated by the laws of the Republic of Kazakhstan.
The Law of the Republic of Kazakhstan dated June 3, 2003 No. 423.
This Law defines the legal status, the procedure for the establishment and operation of the Insurance Benefit Guarantee Fund, as well as the conditions for the participation of insurance organizations, branches of insurance organizations that are non-residents of the Republic of Kazakhstan in the Insurance Benefit Guarantee Fund and the principles of ensuring control over its activities.
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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