Article 51-3. Liquidation of the Association of Property Owners of the Housing Relations Act
1. The association of property owners may be liquidated:
1) by decision of the majority of the total number of owners of apartments, non-residential premises;
2) upon termination of the condominium;
3) by a court decision that has entered into force.
2. The property of the association of property owners remaining upon its liquidation in the case provided for in subparagraph 1) According to paragraph 1 of this article, after repayment of the debt, it is transferred to the entity of management of the condominium facility chosen by the owners of apartments and non-residential premises or to a temporary management company appointed by the housing inspectorate on the basis of an act of acceptance and transfer, unless otherwise provided by an agreement between the owners of apartments and non-residential premises.
The property of the association of property owners remaining upon liquidation in the cases provided for in subparagraphs 2) and 3) of paragraph 1 of this article, after repayment of the debt, is distributed among the members of the association of property owners in proportion to their shares in the common property of the condominium facility, unless otherwise provided by agreement between the owners.
3. The liquidation of the association of property owners is carried out in accordance with the Law of the Republic of Kazakhstan "On State Registration of Legal Entities and registration of branches and representative offices."
The Law of the Republic of Kazakhstan dated April 16, 1997 No. 94.
President
Republic of Kazakhstan
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