Article 21. Disbandment of endowment capital (endowment) Law on Charity - Excluded by the Law of the Republic of Kazakhstan dated June 30, 2025 No. 200-VIII SAM.

Home / RLA / Article 21. Disbandment of endowment capital (endowment) Law on Charity - Excluded by the Law of the Republic of Kazakhstan dated June 30, 2025 No. 200-VIII SAM.

1. The grounds for disbanding the endowment may be:

1) the use of endowment capital (endowment) in accordance with the donation, donation, and bequest agreement(s);

2) the expiration of the period for which the target capital (endowment) was formed;

3) the decision to reorganize the management company;

4) the decision to liquidate the charity organization;

5) reducing the value of the initial amount of capital transferred by the benefactor(s) by more than ten percent.

2. The decision on the dissolution of the endowment fund (endowment) is made by the governing body of the charitable organization, authorized to do so by the constituent or internal documents of the organization, if there is one of the grounds specified in paragraph 1 of this article.

3. A gross or repeated violation by a management company or a charitable organization of the requirements of the charter for the formation and use of the endowment (endowment) (or) the norms of this Law may serve as a basis for the dissolution of the endowment (endowment) by a court decision.

4. The endowment capital (endowment) to be disbanded may be transferred to another endowment capital (endowment) in accordance with an agreement concluded between the charitable organizations that formed such capitals, unless otherwise provided by the donation, donation, or bequest agreement(s).

5. The target capital (endowment), which is subject to disbandment, cannot be used in business activities.

The footnote. Article 21 as amended by the Law of the Republic of Kazakhstan dated 07/04/2022 No. 134-VII (effective sixty calendar days after the date of its first official publication).

The Law of the Republic of Kazakhstan dated November 16, 2015 No. 402-V SAM.

This Law regulates public relations arising in the field of charity.

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Republic of Kazakhstan

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