Article 62. Transformation of business partnerships of the Civil Code of the Republic of Kazakhstan

     1. Economic partnerships of one type may be transformed into economic partnerships of another type or into joint-stock companies or production cooperatives by decision of the general meeting of participants in the cases and in accordance with the procedure established by legislative acts.

     2. When a full or limited partnership is transformed into a joint-stock company, limited liability company, or additional liability company, each full partner who has become a participant in a joint-stock company, limited liability company, or additional liability company shall, for two years, bear subsidiary liability with all his property for obligations transferred to the joint-stock company, limited liability company, or additional liability company from the full or limited liability company. partnerships. The alienation by a former general partner of his shares (stakes) does not release him from such responsibility.

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