Commentary to article 82. Compulsory purchase of a share from a participant in a limited liability partnership of the Civil Code of the Republic of Kazakhstan  

The new edition of the commented article abolished the possibility of excluding an LLP participant from the partnership.  

Forced share buyback is allowed only on the basis of a court decision.  

The basis for the commencement of legal proceedings on this issue is the statement of the management body of the partnership. This application must be submitted by the executive body. However, a meeting of the general meeting must be held beforehand, at which a decision is made on the compulsory repurchase of the share. The interested participant does not participate in the voting.  

Compulsory share repurchase is possible if a participant fails to fulfill his obligations under the Civil Code (clause 2, Article 61), as well as if a participant in a partnership causes harm to the partnership or its participants (clause 1, Article 14 of the Law on LLP).

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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.