Chapter 3 Organization |
Article 10 |
The Central Cooperative Bank is consisted of 25 directors in the Board of Directors. The Central Government and authorities concerned of financial services appoint 13 out of the 25 directors; each shareholding units should elect the rest of the directors.
The Central Cooperative Bank has 11 supervisors in the Supervisory Board. The National Audit Office should elect 1 out of the 11 supervisors; the Central Government and authorities concerned of financial services should elect 5 supervisors, and each shareholding units should elect the rest of the supervisors.
The Ministry of Interior Affairs should decide the rules of electing the directors and supervisors of each shareholding unit in the Central Cooperative Bank. |
Article 11 |
The Board of Directors in each county/city cooperative bank is constituted with 7 to 11 directors. The Central Cooperative Bank should delegate 2 to 4 out of the entire Board and each shareholding unit elects the rest.
The Supervisory Board in each county/city cooperative bank is constituted with 5 to 7 supervisors. Local cooperative authorities concerned should designate 3 out of the entire Board and provincial cooperative subsidiaries and each shareholding unit should elect the rest.
The Ministry of Interior Affairs should decide the rules of electing the directors and supervisors of each shareholding unit in Central Cooperative Bank. |
Article 12 |
The Board of Directors in the Central Cooperative Bank should elect 7 general directors among the members, and the Central Government and authorities concerned of financial services should appoint one of them as the Chief Director.
The Central Cooperative Bank should appoint the Chief Director of county/city cooperative banks among the members upon request of the county/city cooperative regulators. In addition, the candidates of every Chief Director should be reported to the Central Government and authorities concerned of financial services for the purpose of record keeping. |
Article 13 |
The tenure for each president of all levels of cooperative banks is three years; for the supervisors, it is one year. Both president and supervisors may be re-elected and extend their tenures. |
Article 14 |
The Central Cooperative Bank is consisted of one general manager and one deputy general manager. Both candidates should be nominated by the Chief Director and general directors of the Central Cooperative Bank and approved by the Board of Directors. In addition, the candidates must be reported to the Central Government and authorities concerned of financial services for the purpose of record keeping.
Under any circumstances, if the general manager fails to exercise his or her duties, the deputy general manager should be his or her deputy. Such case needs to be reported to the Central Government and authorities concerned of financial services for the purpose of record keeping.
The provincial/city cooperative banks are constituted with one manager and one associate manager. Both candidates need to be nominated by the general manager and approved by the Chief Director and General Board of Directors before accepting the appointment from the Chief Director. |
Article 15 |
The county/city cooperative banks should have one manager appointed by local Board of Directors. The candidates should be reported to county/city government and the Central Cooperative Bank for the purpose of record keeping. |
Article 16 |
Each provincial/city cooperative subsidiary could set up Planning Committee by engaging representatives of related groups and cooperative business, and experts of all areas. The charter of the committee should be stipulated by the Ministry of Interior Affairs and the Ministry of Finance, which are required to be reviewed and approved by the Executive Yuan. |