Article 7. Deposit agreement The Law On the State Educational Accumulative System

Home / RLA / Article 7. Deposit agreement The Law On the State Educational Accumulative System

1. A deposit agreement is concluded in writing between the participating bank and the depositor in accordance with the requirements of this Law, other regulatory legal acts of the Republic of Kazakhstan and on the basis of a standard deposit agreement.

2. The term of the deposit agreement is determined by agreement of the parties.

3. Upon expiration of the deposit agreement:

1) it is automatically extended for the duration of the contract, unless either party expresses its intention to terminate it.;

2) extended for another period by agreement of the parties;

3) may be concluded with another participating bank of the depositor's choice with the transfer of the remaining money.

The Law of the Republic of Kazakhstan dated January 14, 2013 No. 67-V.

This Law regulates public relations in the sphere of functioning of the State Educational Accumulative System, as well as the conditions, forms and content of its state stimulation.

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