The Banking Act of The Republic of China Article 12-1

In extending self-use residence loans or consumer loans, a bank shall not require borrowers to provide joint and several guarantor(s).In extending self-use residence loans or consumer loans, if a bank has obtained sufficient security prescribed in the preceding article, it shall not require borrowers to provide guarantor(s).Except for the preceding paragraph, if a bank requires guarantor(s) when extending credits, the guaranty shall be in a specific amount.In seeking repayment, a bank shall first pursue the borrower; when the repayment is insufficient and there are multiple guarantors, it shall pursue the guarantors on a pro-rata basis; provided that the above shall not apply to applications for enforcement titles or provisional remedies proceedings.