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LAW OF THE REPUBLIC OF UZBEKISTAN

of December 6, 2001 No. 308-II

About economic partnerships

(as amended on 20-02-2024)

Chapter I. General provisions

Article 1. Purpose of this Law

The purpose of this Law is regulation of the relations in the field of creation, activities, reorganization and liquidation of economic partnerships.

Article 2. Legislation on economic partnerships

The legislation on economic partnerships consists of this Law and other acts of the legislation.

Article 3. Economic partnership

Economic partnership the commercial organization with the authorized fund (authorized capital) divided into shares (deposits) of founders (participants) in which founders (participants) or some of them take personal part in conducting business activity on behalf of such partnership is recognized.

The economic partnership is created in the form of complete partnership or partnership in commendam.

The economic partnership is created sine die if other is not established by its foundation agreement.

The economic partnership has the isolated property considered on its separate balance in property can acquire on its own behalf the rights, perform duties, to be claimant and the defendant in court.

The economic partnership can perform the any kinds of activities which are not forbidden by the legislation.

The economic partnership can be engaged in separate types of activity which list is determined by legal acts only based on the license.

The economic partnership according to the procedure, established by the legislation, can be the founder (participant) of other legal entities, create representations and branches.

The economic partnership is considered created as the legal entity from the moment of its state registration according to the procedure, established by the legislation.

The economic partnership has the right to have the round stamp containing its full trade name in state language and specifying of the location of economic partnership. The seal of economic partnership may contain also its trade name in other languages at the choice of economic partnership.

The economic partnership has the right to have stamps and forms with the trade name, own emblem, and also the trademark registered in accordance with the established procedure and other means of visual identification.

Article 4. Foundation agreement of economic partnership

The foundation agreement is the constituent document of economic partnership.

The foundation agreement contains data:

about type of the established economic partnership, subject, the purposes and terms of its activities;

about the list of founders (participants);

about trade name and the postal address of the established economic partnership;

about the size of authorized fund (authorized capital) and procedure for its education;

about the size and nominal value of share of each participant of economic partnership;

about structure, terms and procedure for introduction of deposits by participants of economic partnership;

about procedure for increase and reduction of authorized fund (authorized capital) of economic partnership;

about procedure for management of activities of economic partnership;

about procedure for profit distribution and indemnification;

about procedure for reorganization and liquidation of economic partnership;

about other conditions which are not contradicting the legislation.

The foundation agreement of economic partnership shall contain also data on its representations and branches. Messages on changes in the foundation agreement of economic partnership of data on its representations and branches are represented to the body performing state registration of legal entities in notifying procedure. The specified changes in the foundation agreement become effective for the third parties from the moment of the notification on such changes of the body performing state registration of legal entities.

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