Article 81. Reorganization of the company Chapter 10. Reorganization and liquidation of the company The Law on Joint Stock Companies
1. The company's reorganization (merger, affiliation, division, separation, transformation) is carried out in accordance with the Civil Code of the Republic of Kazakhstan, taking into account the specifics established by the legislative acts of the Republic of Kazakhstan.
2. In case of reorganization of a company by way of division or separation, creditors of the reorganized company have the right to demand early termination of the obligation under which this company is the debtor and compensation for losses.
3. If, in the event of reorganization, the company ceases to operate, the issue of its shares is subject to cancellation in accordance with the procedure established by the legislation of the Republic of Kazakhstan.
The Law of the Republic of Kazakhstan dated May 13, 2003 No. 415.
This Law defines the legal status, procedure for the establishment, operation, reorganization and liquidation of a joint-stock company; the rights and obligations of shareholders, as well as measures to protect their rights and interests; the competence, procedure for the formation and functioning of the bodies of a joint-stock company; the powers, procedure for the election and responsibility of its officials.
President
Republic of Kazakhstan
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