Article 33. Consequences of a limited liability partnership's repurchase of a participant's share Law on Limited and Additional Liability Partnerships
1. After the limited liability partnership repurchases the participant's share in accordance with the procedure provided for in Articles 31-36 of this Law, as well as after the partnership repurchases the participant's share by agreement of the parties, the partnership is obliged to offer other participants to purchase this share at a price determined by a decision of the general meeting.
2. If several participants express their intention to acquire a share, the share is divided among them in proportion to the size of their shares in the authorized capital of the limited liability company.
The amount of the share purchased by the participant is added to the amount of the share that belonged to this participant before the purchase. At the same time, the rule of paragraph 3 of Article 28 of this Law on the possible limitation of the size of the share that may belong to one participant of the partnership is observed.
3. If the participants are unwilling to purchase a share purchased by a limited liability partnership from a retired participant, the share is repaid with a corresponding reduction in the authorized capital and recalculation of the shares in the authorized capital of the partnership participants.
4. By a decision of the general meeting, a limited liability partnership may, instead of redeeming the share provided for in paragraph 3 of this article, sell this share on behalf of the partnership to a third party.
5. In all cases, no dividends are accrued on the share of a retired participant in a limited liability company transferred to the partnership until it is repaid or sold to another participant or a third party.
The Law of the Republic of Kazakhstan dated April 22, 1998 No. 220-1.
President
Republic of Kazakhstan
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