Article 65. Types and grounds for liquidation of an insurance (reinsurance) organization Chapter 12. Liquidation of the Insurance Law
1. Liquidation of an insurance (reinsurance) organization, including on the grounds of bankruptcy, is carried out in accordance with this Law and other regulatory legal acts of the Republic of Kazakhstan.
2. An insurance (reinsurance) organization may be liquidated:
1) by decision of its shareholders, with the permission of the authorized body (voluntary liquidation);
2) by a court decision in cases stipulated by the legislation of the Republic of Kazakhstan (compulsory liquidation).
The Law of the Republic of Kazakhstan dated December 18, 2000 No. 126.
President
Republic of Kazakhstan
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