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Chapter Three -- Scope of Business
| Article 15 |
（Scope of business of credit cooperatives）
The scope of business a credit cooperative may engage in or carry on shall be set out in the business license as approved by the Central Competent Authority in the following businesses:
1. Accept checking deposits;
2. Accept demand deposits;
3. Accept time deposits;
4. Accept saving deposits;
5. Provide short-, medium- and long-term loans;
6. Discount negotiable instruments;
7. Invest in government bonds, short-term bills, corporate bonds, and bank debentures;
8. Conduct domestic remittance business;
9. Engage in credit cards and other similar businesses;
10. Accept commercial drafts;
11. Issue domestic letters of credit;
12. Provide domestic guaranty;
13. Act as collecting and paying agent;
14. Sell government bonds, treasury bills, corporate bonds, and company stocks as an agent;
15. Engage in warehousing, custodial, and agency services related to business described above;
16. Act as a receiving agent for banks in the foreign exchange business; and
17. Engage in other related businesses, which may be approved by the Central Competent Authority.
The eligibility requirements and the maximum amount of business a non-member may be permitted to transact shall be determined by the Central Competent Authority. |