Chapter 2 Qualification Requirements |
Section 1 Qualifications of Membership Representative Candidate |
| Article 3 |
A membership representative candidate shall meet the following criteria:
1. Having at least two years of membership, unless the credit cooperative has undergone reorganization and the exception is approved by the central competent authority;
2. Having graduated from a junior high school or higher, or having held the position of membership representative at the cooperative;
3. The amount of share capital subscribed in the past year was maintained above the level of NT$30,000 or the net deposit less deposit-pledged loans at the cooperative maintained a daily balance of at least NT$50,000 in the past year; and
4. Meeting the criteria set forth in the articles of incorporation. |
| Article 4 |
Any person having any of the following situations may not register as a membership representative candidate:
1.Having no legal capacity or limited legal capacity, or is subject to the order of commencement of assistance that has not been revoked yet.
2.Having been sentenced to imprisonment for counterfeiting currency or valuable securities, embezzlement, fraud, breach of trust, corruption, usury, or a crime under the Organized Crime Prevention Act, and the sentence has not been completed or five (5) years have not elapsed since the date of sentence completion, the expiration of probation period, or the pardon of such punishment.
3.Having been sentenced to imprisonment for forging instruments or seals, impairing the rights of creditors or violating the Company Act or Business Entity Accounting Act, and the sentence has not been completed or five (5) years have not elapsed since the date of sentence completion, the expiration of probation period, or the pardon of such punishment.
4.Having been sentenced to imprisonment for violating the Act, Banking Act, Financial Holding Company Act, Trust Enterprise Act, Act Governing Bills Finance Business, Financial Assets Securitization Act, Real Estate Securitization Act, Insurance Act, Securities and Exchange Act, Futures Trading Act, Securities Investment Trust and Consulting Act, Foreign Exchange Control Act, Agricultural Finance Act, or Money Laundering Control Act, and the sentence has not been completed or five (5) years have not elapsed since the date of sentence completion, the expiration of probation period or the pardon of such punishment.
5.Having been sentenced to imprisonment for a crime other than those provided in Subparagraph 2 hereof to the preceding subparagraph, and the enforcement of sentence has not commenced or the sentence has not yet been completed; however, the preceding provision does not apply to situations where a probation has been pronounced or the punishment of imprisonment may be computed to a fine and the fine is paid in full.
6.Having received a court judgment of rehabilitative disposition or been ordered by a court to enter a reformatory or been ordered to perform compulsory labor due to the offense of larceny or receiving stolen property, and the enforcement of court judgment or order has not commenced or has not been completed or five (5) years have not elapsed since the completion of enforcement.
7.Having been discharged, dismissed, or removed from office by the competent authority or a credit cooperative for violating the Act, Banking Act, Financial Holding Company Act, Trust Enterprise Act, Act Governing Bills Finance Business, Financial Assets Securitization Act, Real Estate Securitization Act, Cooperatives Act, Insurance Act, Securities and Exchange Act, Futures Trading Act, Securities Investment Trust and Consulting Act, Agricultural Finance Act, Farmers’ Association Act, Fishermen’s Association Act, or other laws regulating financial activity, or articles of the cooperative, and five (5) years have not elapsed since the receipt of such a disposition.
8.Having been adjudicated bankrupt, and rights and privileges have not been reinstated.
9.Having been the responsible person of a legal entity at the time such legal entity was adjudicated bankrupt and five (5) years have not elapsed since the closure of the bankruptcy or the terms of bankruptcy settlement have not yet been fulfilled.
10.Having been denied service by the bills clearing house and the denial status has yet to be removed.
11.Having a record in the past three years of principal or interest payment for a loan being overdue by three months or longer; or having a record in the past three years of not paying off guarantee obligation in three months or longer after being so notified by a financial institution.
12.Having the membership of other credit cooperative(s) in the same business area. When a non-profit juristic person is elected as a membership representative, Subparagraph 2 of the foregoing article and the preceding paragraph shall apply to the individual designated by it to exercise its duties. |
| Article 5 |
The membership representative of a credit cooperative shall not serve concurrently as its director, supervisor or employee. |
Section 2 Qualifications of Director and Supervisor Candidates |
| Article 6 |
A director or supervisor candidate shall meet the following criteria:
1.Having at least two years of membership, unless the credit cooperative has undergone reorganization and the exception is approved by the central competent authority;
2.Having graduated from a high school or higher, or an equivalent, or having passed the civil service junior examination, or having served in the position of director, supervisor or assistant manager or higher at a financial institution with proof;
3.The amount of share capital subscribed in the past year was maintained above the level of NT$500,000 or the net deposit less deposit-pledged loans at the cooperative maintained a daily balance of at least NT$500,000 in the past year;
4.A director of credit cooperative must have been relieved from office for at least three years and be free of liability pursuant to Article 18 of the Act to be eligible for the election of supervisor;
5.A supervisor candidate must have taken accounting courses or engaged in accounting work for at least one year, or having served in the position of supervisor of a financial institution with proof; and
6.Meeting the criteria set forth in the articles of incorporation. |
| Article 7 |
Any person having any of the following situations may not register as a director or supervisor candidate:
1.Having no legal capacity or limited legal capacity, or is subject to the order of commencement of assistance that has not been revoked yet.
2.Having been convicted of a crime under the Organized Crime Act.
3.Having been sentenced to imprisonment for counterfeiting currency or valuable securities, embezzlement, fraud or breach of trust, and the sentence has not been completed or ten (10) years have not elapsed since the date of sentence completion, the expiration of probation period, or the pardon of such punishment.
4.Having been sentenced to imprisonment for corruption, and the sentence has not been completed or five (5) years have not elapsed since the date of sentence completion, the expiration of probation period, or the pardon of such punishment.
5.Having been sentenced to imprisonment for forging instruments or seals, offence against privacy, usury, impairing the rights of creditors or violating the Tax Collection Act, Trademark Act, Patent Act, Company Act or Business Entity Accounting Act, and the sentence has not been completed or five (5) years have not elapsed since the date of sentence completion, the expiration of probation period, or the pardon of such punishment.
6.Having been sentenced to imprisonment for violating the Act, Banking Act, Financial Holding Company Act, Trust Enterprise Act, Act Governing Bills Finance Business, Financial Assets Securitization Act, Real Estate Securitization Act, Insurance Act, Securities and Exchange Act, Futures Trading Act, Securities Investment Trust and Consulting Act, Foreign Exchange Control Act, Agricultural Finance Act, or Money Laundering Control Act, and the sentence has not been completed or five (5) years have not elapsed since the date of sentence completion, the expiration of probation period or the pardon of such punishment.
7. Having been sentenced to imprisonment for a crime other than those provided in Subparagraph 2 hereof to the preceding subparagraph, and the sentence has not been completed or three (3) years have not elapsed since the date of sentence completion. However, the expiration of probation period, the pardon of such punishment, or the completion of an imprisonment sentence of less than six (6) months are excluded from limitation
8.Having received a court judgment of rehabilitative disposition or been ordered by a court to enter a reformatory or been ordered to perform compulsory labor due to the offense of larceny or receiving stolen property and the enforcement of court judgment or order has not commenced or has not yet been completed, or ten (10) years have not elapsed since the completion of execution.
9.Having been replaced or discharged from duties by the order of the competent authority for violating the Act, Banking Act, Financial Holding Company Act, Trust Enterprise Act, Act Governing Bills Finance Business, Financial Assets Securitization Act, Real Estate Securitization Act, Cooperatives Act, Insurance Act, Securities and Exchange Act, Futures Trading Act, Securities Investment Trust and Consulting Act, Agricultural Finance Act, or other laws regulating financial activity, and five (5) years have not elapsed since being so replaced or discharged.
10.Under suspension from duty by the order of the competent authority.
11.Having been adjudicated bankrupt, and rights and privileges have not been reinstated.
12.Being the responsible person of a legal entity at the time such legal entity was adjudicated bankrupt and five (5) years have not elapsed since the closure of the bankruptcy or the terms of bankruptcy settlement have not yet been fulfilled.
13.Having been denied service by the bills clearing house and the denial status has yet to be removed, or there remains a record of dishonored check(s) due to insufficient funds in three (3) years since the denial status has been removed.
14.Having a record in the past three years of principal or interest payment for a loan being overdue by three months or longer; or having a record in the past three years of not paying off guarantee obligation in three months or longer after being so notified by a financial institution.
15.Having an ongoing event that seriously damages his or her credit worthiness or five (5) years have not elapsed since the closure of such an event.
16.Factual evidence shows that the person has engaged in, or been involved in, other dishonest or improper activities which indicate that she/he is unfit to serve as a responsible person of a credit cooperative.
17.Having the membership of other credit cooperative(s) in the same business area. |
| Article 8 |
The number of years as specified in Articles 3, 4, 6 and 7 herein is calculated up to the date before the credit cooperative announces the mattes of candidate registration. |
| Article 9 |
The directors of a credit cooperative should be of good moral character. If the number of directors is less than five persons, at least one director shall meet one of the qualifications set out below. If the number of directors exceeds five, at least one more director for each additional four directors shall meet one of the qualifications set out below. However for a credit cooperative where its statutory business area is in an offshore island, at least one more director for each additional five directors shall meet one of the qualifications set out below:
1.Having graduated from a domestic or foreign college or higher, or an equivalent and with at least two (2) years of experience working in a credit cooperative(s) or a bank(s), and having served in the position of manager or higher at a credit cooperative or a comparable position at a bank with good performance record;
2.Having graduated from a domestic or foreign college or higher, or an equivalent, at least three (3) years of experience working in financial administration or management and having held the position of civil service recommended appointment grade 7 or equivalent with good performance record;
3.At least three (3) years of experience working in a bank(s) or a credit cooperative(s), and having served in a position of manager of credit cooperative or higher or comparable position at a bank with good performance record; or
4.Having other experiences sufficing to evidence the possession of professional financial knowledge or banking operation experience to effectively manage the business of a credit cooperative. |
| Article 10 |
People with spousal relationship or who are relatives by blood within third degree of kinship or relatives by marriage within first degree of kinship shall not serve concurrently as a director and a supervisor, or as supervisors of the same credit cooperative; there shall be no more than two incumbent directors having any of the relationships described in the preceding provision.
Elected directors and supervisors having any of the situations described in the preceding paragraph shall coordinate among themselves prior to the date of taking office, or else the election to the office is null and void. |
Section 3 Qualifications of Managers |
| Article 11 |
A credit cooperative manager shall not have any of the situations specified in the subparagraphs of Article 7 herein. |
| Article 12 |
The president of a credit cooperative or a person in comparable position shall have good moral character, the ability in leadership and efficient management of the credit cooperative, and meet one of following qualifications:
1. Having graduated from a domestic or foreign college or higher, or an equivalent and with at least five (5) years of experience working in a credit cooperative(s) or a bank(s) and having served in the position of manager or higher at a credit cooperative or a comparable position at a bank with good performance record.
2. Having at least three (3) years of experience working in a credit cooperative(s) or a bank(s) and having served in the position of vice president or higher at a credit cooperative or a comparable position at a bank with good performance record.
3. Having other experiences sufficing to evidence the possession of leadership ability, professional financial knowledge or banking management capability to effectively manage the business of a credit cooperative.
A person may not hold the position of president or comparable position of a credit cooperative unless the competent authority has examined and approved the qualifications of such person. |
| Article 13 |
The vice president, chief auditor, assistant vice president, head/branch office manager or persons in comparable position of a credit cooperative shall have good moral character, the ability in leadership and efficient management of the credit cooperative, and meet one of following qualifications:
1. Having graduated from a domestic or foreign college or higher, or an equivalent and with at least three (3) years of experience working in a credit cooperative(s) or a bank(s) and having served in the position of assistant manager or higher at a credit cooperative or a comparable position at a bank with good performance record.
2. Having at least five (5) years of experience working in a credit cooperative(s) or a bank(s) and having served in the position of assistant manager or higher at a credit cooperative or a comparable position at a bank with good performance record.
3. Having at least ten (10) years of professional experience working in information science, technology, law, e-commerce, digital economy, finance and accounting, marketing, and human resources, with good performance record.
4. Having other experiences sufficing to evidence the possession of leadership ability, professional financial knowledge or banking management capability to effectively manage the business of a credit cooperative.
Personnel with qualifications specified in Subparagraph 3 and Subparagraph 4 of the preceding paragraph shall only perform work that involves their original field(s) of expertise. |
| Article 14 |
The incumbent president (including acting president) and the chairman of directors (including acting chairman) or the chairman of supervisors (including acting chairman) shall not have spousal relationship or be relatives by blood or marriage with second degree of kinship. |
| Article 14- 1 |
The board of directors of a credit cooperative is held responsible for the appointment of managerial officers and making sure that the appointed managers meet the qualification requirements. The board of directors is also held responsible for overseeing the maintenance of qualifications by managerial officers and the suitability of managerial officers in their positions. |