What are the contents passed through the meeting to establish mutuals providing microinsurance in Vietnam?
What must be included in the charter of mutuals providing microinsurance in Vietnam?
Pursuant to the provisions of Clause 1, Article 8 of Decree No. 21/2023/ND-CP as follows:
Charter of mutuals providing microinsurance
1. The charter of mutuals providing microinsurance must include at least the following contents:
a) The name and expected location of the head office of the mutuals providing microinsurance;
b) Purpose of establishing mutuals providing microinsurance;
c) Content, scope, area of operation, duration of operation;
d) Procedures for joining, procedures for terminating membership, rights and obligations of members. Members of mutuals providing microinsurance must be Vietnamese citizens aged full 18 years or older, with full civil act capacity; be a member of the same organization and meet the conditions specified in the Charter of the mutuals providing microinsurance;
dd) Name, address, rights, obligations and number of founding members (at least 07) of the mutuals providing microinsurance (in case founding members are individuals); name, address, rights and obligations of the member representative organization (in case the founding member is a member representative organization);
e) Organizational structure, functions, tasks, powers, term and mode of operation of the General Meeting of Members (in case the founding member is an individual), Board of Directors, Board of Directors , Control Board; the mode of election, dismissal, and dismissal of members of the Board of Directors, the Chairman of the Board of Directors, the Supervisory Board;
g) Cases in which an extraordinary general meeting of members is held (in the case of an individual founding member);
h) Order and procedures for conducting the General Meeting of Members and passing resolutions at the General Meeting of Members; standards, order and procedures for electing delegates to attend the general meeting of members' deputies (in case founding members are individuals);
i) Establishment capital of mutuals providing microinsurance; capital contribution method; methods and principles for returning the established capital supported by the member representative organization (if any);
k) Financial regulations; principles for deciding the increase or decrease of insurance premiums; how to use the performance of the microinsurance mutual organization;
l) Principles of internal dispute settlement;
m) Principle and order of property division in case the mutuals providing microinsurance dissolves;
Thus, the charter of mutuals providing microinsurance must include at least 12 of the above contents.
What are the contents passed through the meeting to establish mutuals providing microinsurance in Vietnam?
Who decides to replace, supplement or amend the charter of mutuals providing microinsurance in Vietnam?
Pursuant to the provisions of Clause 2, Article 8 of Decree No. 21/2023/ND-CP as follows:
Charter of mutuals providing microinsurance
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2. The replacement, supplementation or amendment of the charter of the mutuals providing microinsurance by the General Meeting of Members (in case the founding member is an individual) or the member representative organization (for the case of the founding member being an individual) in case the founding member is a member representative organization).
According to the above provisions, the General Meeting of Members (in case the founding member is an individual) or the member representative organization (in the case the founding member is a member representative organization) are the decide on the replacement, supplementation or amendment of the charter of the mutuals providing microinsurance.
What are the contents passed through the meeting to establish mutuals providing microinsurance in Vietnam?
Pursuant to the provisions of Article 9 of Decree No. 21/2023/ND-CP stipulating as follows:
Meeting to establish mutuals providing microinsurance
1. Participants in the meeting to establish mutuals providing microinsurance in case the founding member is an individual include:
a) Founding members;
b) Other members belong to the same organization as the founding member and wish to participate in microinsurance products.
2. The Conference adopted a Resolution with the following contents:
a) Authorize a representative from among the founding members to submit an application for a license to establish and operate mutuals providing microinsurance;
b) Draft charter of the mutuals providing microinsurance;
c) The proposed plan to deploy microinsurance products as prescribed at Point d Clause 2 Article 10 of this Decree;
d) Expected personnel to be appointed as Chairman of the Board of Directors, General Director or Director, legal representative, micro-insurance actuary;
dd) Other contents related to the establishment, organization and operation of the mutuals providing microinsurance.
3. The resolution of the meeting to establish the mutuals providing microinsurance specified in Clause 2 of this Article must be voted for with the approval rate of 51% or more.
According to the above provisions, the meeting of the mutuals providing microinsurance passed a resolution with the following contents:
- Authorize a representative from among the founding members to submit an application for a license to establish and operate mutuals providing microinsurance.
- Draft charter of mutuals providing microinsurance;
- Expected personnel to be appointed as Chairman of the Board of Directors, General Director or Director, legal representative, Micro-insurance actuary
- Other contents related to the establishment, organization and operation of mutuals providing microinsurance.
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