of March 6, 2003 No. 392-II
About microcredit institutions
This Law governs the relations connected with implementation of activities for provision of the microcredits and establishes features of legal status, creation, activities, reorganization and liquidation of microcredit institutions.
In this Law the following basic concepts are used:
1) the borrower - the physical person or legal entity which signed the agreement on provision of the microcredit with microcredit institution;
2) the credit folder - the documents and data created by microcredit institution on each borrower, provided according to the signed agreement on provision of the microcredit;
3) the microcredit - the money provided by microcredit institution to the borrower in the amount of and procedure, determined by this Law, on the terms of the paid nature, urgency and recoverability;
4) microcredit institution - the legal entity performing activities for provision of the microcredits according to the procedure, determined by this Law;
5) the target microcredit - the microcredit issued on the terms of its use by the borrower on particular purposes according to the signed agreement on provision of the microcredit.
1. The legislation of the Republic of Kazakhstan on microcredit institutions is based on the Constitution of the Republic of Kazakhstan and consists of the Civil code, this Law and other regulatory legal acts of the Republic of Kazakhstan.
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The document ceased to be valid according to the Law of the Republic of Kazakhstan of 26.11.2012 No. 56-V ZRK