| 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no legal capacity or limited legal capacity, or is subject to the order of commencement of assistance that has not been revoked yet.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 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. |