Article 8. Management of an Economic Partnership of the Law on Economic Partnerships of the Law on Economic Partnerships

Home / RLA / Article 8. Management of an Economic Partnership of the Law on Economic Partnerships of the Law on Economic Partnerships

1. The supreme body of an economic partnership is the general meeting (meeting of representatives). its participants.

2. An executive body (collegial or sole) is created in a business partnership, which carries out the day-to-day management of its activities and is accountable to the general meeting of its participants.

The sole governing body may be elected not from among its members.

3. Collegial bodies may be established:

1) the Management Board (directorate);

2) the Supervisory Board;

3) other bodies by decision of the general meeting (meeting of representatives) of the participants of the business partnership.

4. To control the activities of the executive body, the general meeting of participants has the right to form an audit commission.

4-1. In cases of declaring a business partnership bankrupt or applying a rehabilitation procedure and appointing a temporary or bankrupt or rehabilitation manager in accordance with the procedure established by the legislative act of the Republic of Kazakhstan on rehabilitation and bankruptcy, all powers to manage it are transferred to the temporary or bankrupt or rehabilitation manager, respectively.

5. The competence of the management bodies of a business partnership, the procedure for their election (appointment), as well as the procedure for their decision-making are determined by this Law, legislative acts and constituent documents.

The Law of the Republic of Kazakhstan dated May 2, 1995 No. 2255.

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