Article 5-1. Creation of the mortgage organization of the Real Estate Mortgage Act

Home / RLA / Article 5-1. Creation of the mortgage organization of the Real Estate Mortgage Act

1. A mortgage organization is created in the form of a joint-stock company in accordance with the legislative acts of the Republic of Kazakhstan.

2. The name of the mortgage organization must contain the words "mortgage organization".

A legal entity that is not registered as a mortgage organization in accordance with the procedure established by the legislation of the Republic of Kazakhstan cannot be called a mortgage organization.

The requirements provided for in parts one and two of this paragraph do not apply to a Single Housing Construction Operator.

3. A mortgage organization is a commercial organization that performs certain types of banking operations on the basis of a license issued by an authorized body.

The Law of the Republic of Kazakhstan dated December 23, 1995.

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