Article 66. Repurchase of shares from participants who did not vote for the reorganization of a limited liability company Law on Limited and Additional Liability Companies
1. The participants of a limited liability partnership who were not present at the general meeting of participants when they decided on the reorganization of the partnership or voted against such a decision, have the right to demand the redemption of their shares by the participants who voted for the reorganization of the partnership.
2. The share repurchase must be carried out within one month from the date of the relevant claim. The share is redeemed by the participants who voted for the reorganization of the limited liability company in parts proportional to their shares in the authorized capital of the company, unless otherwise stipulated by their agreement providing for the full redemption of the share of the participant who filed the demand for redemption. The price at which the share is redeemed is determined in accordance with the rules of Article 32 of this Law.
3. A participant in a limited liability partnership who submits a claim for share repurchase has the right to send a copy of such claim to the body carrying out registration in accordance with Article 67 of this Law. If a copy of the share repurchase request is received by the specified body, registration is carried out only if the applicant provides evidence of the share repurchase or if the participant who submitted the request has no objections to registration.
The Law of the Republic of Kazakhstan dated April 22, 1998 No. 220-1.
President
Republic of Kazakhstan
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