Article 54. Collegial Executive Body of a Limited Liability Company Law on Limited and Additional Liability Companies
1. If the charter of a limited liability company provides for the formation of a collegial executive body (directorate, board, etc.), such a body is elected by the general meeting of the partnership's participants in the number of no more than seven members, unless otherwise established by legislative acts or the charter of the partnership.
2. The head of the collegial executive body of a limited liability company is elected by the general meeting of the company, unless the articles of association of the company provide for his election by the collegial body itself.
3. The head of the collegial executive body of a limited liability partnership ensures the functioning of this body and directs its meetings. He/she has the rights that, in accordance with subitems 1)-3) of paragraph 1 of Article 53 of this Law, belong to the sole executive body of the partnership.
4. The procedure for the activities of the collegial executive body of the partnership and its decision-making is determined by the charter of the partnership, as well as the rules and other documents adopted by the general meeting of participants.
The Law of the Republic of Kazakhstan dated April 22, 1998 No. 220-1.
President
Republic of Kazakhstan
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