Article 5. Rights and obligations of participants in a credit partnership Chapter 3. Participation in a credit partnership The Law on Credit Partnerships

Home / RLA / Article 5. Rights and obligations of participants in a credit partnership Chapter 3. Participation in a credit partnership The Law on Credit Partnerships

1. The participants of the credit partnership have the right:

1) use the services of a credit partnership;

2) participate in the management of the affairs of the credit partnership;

3) to elect and be elected to the bodies of the credit partnership;

4) receive income from the activities of the credit partnership in accordance with this Law and the constituent documents of the partnership;

5) terminate participation in the credit partnership in accordance with the procedure provided for by this Law and the charter of the credit partnership.;

6) receive information about the activities of the credit partnership and get acquainted with its accounting and other documentation in accordance with the procedure provided for by the charter of the partnership.

Participants in a credit partnership may have other rights provided for by legislative acts of the Republic of Kazakhstan and constituent documents.

2. The participants of the credit partnership are obliged to:

1) comply with the requirements of the founding agreement and the articles of association, and comply with the decisions of the credit partnership's bodies;

2) provide reliable information about their financial condition to the bodies of the credit partnership, sufficient for making decisions on lending to participants.

The participants of the credit partnership may also bear other obligations stipulated by the legislative acts of the Republic of Kazakhstan and the constituent documents.

The Law of the Republic of Kazakhstan dated March 28, 2003 N 400.

This Law defines the legal status, the procedure for the creation, reorganization and liquidation, as well as the regulation of the activities of credit partnerships.

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Republic of Kazakhstan

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