Commentary to article 74. The authorized capital of the limited partnership of the Civil Code of the Republic of Kazakhstan
The authorized capital of a limited partnership is formed at the expense of contributions from general partners and depositors.
The management of a limited partnership is carried out by general partners according to the rules of art. 65 of the Civil Code. In accordance with it, it may be stipulated that general partners, when making decisions concerning the activities of the partnership, have the number of votes in proportion to the size of their shares in the property and authorized capital. In this case, when determining the size of the shares of general partners in the property of a limited partnership (the number of votes held by each general partner), only their contributions to the authorized capital are taken into account and the contributions of depositors are not taken into account.
For the debts of a limited partnership, the general partners bear additional responsibility for all their property, which brings it closer in legal status to the general partnership. However, there are always investors in a limited partnership. Therefore, the minimum size of the authorized capital for this type of business partnership is large compared to the minimum size of the authorized capital of a general partnership.
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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.
