Regulations Governing the Dedicated Deposit Account of Specialized Electronic Payment Institutions Article 10

When a specialized electronic payment institution declares trust funds received from users pursuant to Paragraphs 1 and 3, Article 21 of the Act, it shall appoint its managing bank as the trustee bank and designate the dedicated deposit account as a trust account, and the managing bank will open cooperative accounts and clearing accounts in the name of trustee bank in accordance with the trust agreement.With respect to the cooperative accounts and clearing accounts opened by a managing bank in cooperative banks and clearing banks in the name of trustee bank pursuant to the preceding paragraph, the managing bank shall handle the responsibilities of a cooperative bank and clearing bank as well as the management and operations of cooperative accounts in accordance with the provisions of these Regulations.