Commentary to article 64. The authorized capital of a full partnership of the Civil Code of the Republic of Kazakhstan
The amount of the authorized capital of any type of partnership, including a full one, is determined by agreement of the founders and is indicated in the constituent documents. At the same time, the founders must comply with the requirements for the minimum amount of the authorized capital of the partnership, established by the Decree on Business Partnerships or other legislative acts. Thus, the authorized capital of a general partnership must be at least twenty-five times the monthly calculation indices established in the Republic of Kazakhstan at the time of making contributions to the authorized capital by the participants.
Since the participants of a general partnership bear unlimited responsibility for its obligations, the minimum amount of the authorized capital of this type of business partnership according to the Decree on Business Partnerships is small.
The Decree on Business partnerships and other legislative acts also do not provide for liability for a general partnership and its participants for non-fulfillment of the authorized capital within the time limits established by the constituent documents. This is not required, since the participants are fully jointly and severally liable for the debts of the general partnership with all their property.
Participants have the right to reduce the authorized capital of a general partnership, but not below the minimum amount established by the Decree on Business Partnerships or other legislative acts (Clause 6, Article 6 of the Decree on Business Partnerships).
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The commentary was prepared within the framework of the scientific and practical research program of the Scientific Research Center of Private Law of the Kazakh State Law University.
Head of the working group on the preparation of the draft Civil Code of the Republic of Kazakhstan, Corresponding Member of the Academy of Sciences of the Republic of Kazakhstan, Professor Suleimenov M.K.
Deputy head Professor Basin Yu.G.
