The 70th article the Insurance company must adopt the following configuration of organization:
(one) Limited liability company;
(two) state-owned sole ownership company.
The 71st article sets up the Insurance company, must by the insurance supervisory agency
authorization.
The 72nd article sets up the Insurance company, must meet the following requirement:
(one) has conforms to this law and the law of corporation stipulation regulation;
(two) has conforms to this law stipulation registered capital lowest quota;
(three) has the assignment specialized knowledge and the office work experience's higher
managements;
(four) has the perfect organizations and agencies and the control system;
(five) has conforms to the request business place and with the service related other facilities.
When the insurance supervisory agency examination sets up the application, must consider the
insurance business the development and the fair competition need.
The 73rd article sets up the Insurance company, its registered capital lowest quota for Renminbi
200,000,000 Yuan. The Insurance company registered capital lowest quota must to really give the money
capital. The insurance supervisory agency basis Insurance company business scope, the management
scale, may adjust its registered capital the lowest quota. But, do not be lower than the first
article of stipulation the quota.
The 74th article the application sets up the Insurance company, must submit the following document,
the material:
(one) sets up the requisition, the requisition must stipulate that plans Insurance company's name
which, registered capital, business scope sets up and so on;
(two) feasibility study report;
(three) insures the supervisory agency stipulation other documents, the material.
The 75th article sets up Insurance company's application after the preliminary examination
qualified, the applicant must defer to this law and the law of corporation stipulation carries on
Insurance company's construction. Has this law 72nd stipulation to set up the condition, to insurance
supervisory agency submission official request form and following related document, material:
(one) Insurance company's regulation;
(two) stockholder's list and stock or member and spending limit;
(three) has the corporation stock 10% above shareholder credit proof and the pertinent data;
(four) legal examines capital organization writing up to examine the capital proof;
(five) plans higher managements' resume which and the qualifications proof holds an office;
(six) operational policy and plan;
(seven) does business the place and with the service related other facility material;
(eight) insures the supervisory agency stipulation other documents, the material.
The 76th article insurance supervisory agency, from receives sets up Insurance company's formal
application date of six in the months document, must make the decision which the authorization or
does not authorize.
The 77th article the Insurance company which sets up by the authorization, issues the management
insurance business permit by the authorized department, and handles the registration depending on the
management insurance business permit to the industry and commerce administration institution,
receives the business license.
The 78th article the Insurance company from obtains management insurance business date of six in the
months permit not warrant not to handle the company to set up the registration, its management
insurance business permit expires automatically.
The 79th article after the Insurance company is founded, must defer to its registered capital
total amount 20% extraction earnest money, stores bank which the insurance supervisory agency
assigns, criticizes besides the Insurance company when uses in the discharge, do not use.
The 80th article the Insurance company internal and external sets up the Branch office in the
People's Republic of China, must by the insurance supervisory agency authorization, obtains the
Branch office to manage the insurance business permit. The Insurance company Branch office does not
have the legal personality, its civil liability undertakes by the Insurance company.
The 81st article the Insurance company internal and external sets up the representative body in
the People's Republic of China, must by the insurance supervisory agency authorization.
The 82nd article the Insurance company has one of following change items, must by the insurance
supervisory agency authorization: (one) changes the name; (two) changes the registered capital;
(three) changes the company or Branch office's business place; (four) adjusts the business scope;
(five) the company establishes separately or the merge; (six) revises the articles of incorporation;
(seven) changes the member or has the corporation stock 10% above shareholders; (eight) insures the
supervisory agency stipulation other change item. The Insurance company replaces chairman, general
manager, must report after the insurance supervisory agency examines its assignment qualifications.
The 83rd article Insurance company's organizations and agencies, is suitable the law of corporation
the stipulation.
The 84th article the state-owned sole ownership Insurance company sets up the board of
supervisors. The board of supervisors by the insurance supervisory agency, the concerned expert and
Insurance company staff's representative is composed, withdraws each reserve fund to the state-owned
sole ownership Insurance company, to reimburse situations as well as the higher managements lowly and
so on ability and state asset inflation-proofing and appreciation violates legal, the administrative
rules and regulations or the regulation behavior and the harm company benefit behavior carries on the
surveillance.
The 85th article because the Insurance company establishes separately, the merge or the articles of
incorporation stipulates dismisses the matter to appear, after insurance supervisory agency
authorization dismisses. The Insurance company must establish the settlement group legally, carries
on the settlement. The management has the life insurance service Insurance company, besides the
separation, the merge, do not dismiss.
The 86th article the Insurance company violates the law, the administrative rules and
regulations, the insured supervisory agency cancel management insurance business permit, abolishes
legally. Criticizes the group legally by the insurance supervisory agency prompt organization,
carries on the settlement.
The 87th article the Insurance company cannot pay the due debt, agreed after the insurance
supervisory agency, declares bankruptcy legally by the People's court. The Insurance company is
declared bankruptcy, organizes by the People's court to insure the supervisory agency and so on
Department concerned and the concerned personnel establishes the settlement group, carries on the
settlement.
The 88th article the management has the life insurance service Insurance company to abolish legally
or is declared bankruptcy legally, it has the life insurance contract and the reserve fund, must
shift for other managements have the life insurance service Insurance company; Cannot reach the
transfer agreement with other Insurance companies, assigns the management by the insurance
supervisory agency to have the life insurance service Insurance company to accept. The transfer or
assigns by the insurance supervisory agency to accept the down payment stipulation the life insurance
contract and the reserve fund, must maintain the insured, beneficiary's legitimate rights and
interests.
The 89th article the Insurance company goes bankrupt legally, after the bankrupt property first pays
its bankrupt expense, pays off according to the following order: (one) owes the staff the wages and
the labor insurance expense; (two) compensates or pays the insurance money; (three) owes the tax
money; (four) pays off the corporate debt. The bankrupt property pays off the identical order to pay
off the request insufficient, according to proportional distribution.
The 90th article the Insurance company terminates its operational activities legally, must the
logging out its management insurance business permit.
The 91st article the Insurance company sets up, the change, to dismiss with the liquidation
matter, this law has not made the stipulation, is suitable the law of corporation and other relevant
laws, the administrative rules and regulations stipulation.
