The Credit Cooperatives Act Of The Republic Of China Article 39

In the event of a violation of Article 32, Article 33, Article 33-2, or Article 33-4, Paragraph 1 of the Banking Act, which is mutatis mutandis applicable pursuant to Article 37 of this Act, the credit cooperative's responsible person shall be punished by imprisonment for a term not more than three (3) years, short-term imprisonment, and/or a fine of not less than Five Million New Taiwan Dollars (NT$ 5,000,000) and not more than Twenty-Five million New Taiwan Dollars (NT$ 25,000,000).In the event that the amount of credit ex-tended by the credit cooperative exceeds the amount prescribed by the Competent Au-thority under Article 33 of the Banking Act, which is mutatis mutandis applicable pursu-ant to Article 37 of this Act without obtaining approval from not less than three-quarters of the directors present in the board meeting at which not less than two-thirds directors are present, or violation of the credit limit and total credit balance extended prescribed by the Central Competent Authority under Arti-cle 33, Paragraph 2 of the Banking Act which is, mutatis mutandis, applicable pursuant to Article 37 of this Act, the credit cooperative's responsible person shall be punished by a fine of not less than Two Million New Taiwan Dollars (NT$ 2,000,000) and not more than Ten Million New Taiwan Dollars (NT$ 10,000,000) and the preceding paragraph shall not apply.