Article 59. Termination of membership in a housing and construction cooperative of the Housing Relations Act
1. Membership in a housing and construction cooperative is terminated in the following cases::
1) voluntary withdrawal;
2) loss or alienation of the right to a share by sale, donation, or other disposition;
3) exceptions by decision of the general meeting of the housing and construction cooperative or the court;
4) death of a member of a housing and construction cooperative, recognition of him as missing or declaration of deceased in accordance with the procedure established by the legislation of the Republic of Kazakhstan;
5) liquidation of the housing and construction cooperative.
2. Termination of membership in a housing and construction cooperative in the event of alienation or loss by a member of the housing and construction cooperative of the right to a share in the housing and construction cooperative is formalized by a decision of the executive body of the housing and construction cooperative.
A member of a housing and construction cooperative whose right to a share in the housing and construction cooperative has been alienated or lost in accordance with subparagraph 2) paragraph 1 of this article, informs the management body of the housing and construction cooperative about it. This information can be provided to the management body of a housing and construction cooperative by persons who have received the right to a share in a housing and construction cooperative.
The Law of the Republic of Kazakhstan dated April 16, 1997 No. 94.
President
Republic of Kazakhstan
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