Article 9. Quorum and voting at the general meeting of the participants of the credit partnership The Law on Credit Partnerships

Home / RLA / Article 9. Quorum and voting at the general meeting of the participants of the credit partnership The Law on Credit Partnerships

1. The general meeting is recognized as valid if at least fifty percent of the participants of the credit partnership are present at it. In the event that a decision on an issue included in the agenda must be made by a qualified majority of participants or unanimously, the meeting is entitled to make a decision if at least two thirds of all participants are present.

2. Excluded by the Law of the Republic of Kazakhstan dated December 23, 2005 No. 107 (for the procedure of entry into force, see art. 2).

3. Decisions at the general meeting are taken by a simple majority of the votes of the participants present at the general meeting.

4. Decisions at the general meeting on approving the articles of association and making amendments and additions to it, as well as reorganizing or liquidating a credit partnership, shall be taken by a qualified majority of three-quarters of the votes of the participants present and represented at the general meeting of the participants of the credit partnership, unless the articles of association of the credit partnership require a larger number of votes or unanimity for their adoption.

5. In the absence of a quorum, the general meeting of the members of the credit partnership is reconvened. The date of the reconvened general meeting of the participants of the credit partnership is set by the Board of the credit partnership. A reconvened general meeting of participants in a credit partnership is valid if any number of participants in the credit partnership are registered at it, with the exception of the cases provided for in paragraphs 1 and 4 of this article.

The Law of the Republic of Kazakhstan dated March 28, 2003 N 400.

This Law defines the legal status, the procedure for the creation, reorganization and liquidation, as well as the regulation of the activities of credit partnerships.

President

Republic of Kazakhstan

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