Regulations Governing Insurance Agents Article 12

An agent company shall have one general manager in charge of managing the overall operations of the company and shall not have other officers in comparable position.The general manager referred to in the preceding paragraph shall not act concurrently as the chairman or general manager of other agent companies or insurance broker companies as well as the director externally representing other agent companies or insurance broker companies organized as limited companies.The general manager of an agent company shall possess one of the following qualifications:1. Has graduated from a domestic or foreign school at the level of junior college or higher or possessing equivalent academic qualifications, and has served for no less than five years of experience in the position of manager or higher or in an equivalent position of an insurance company, insurance cooperative, insurance broker company, insurance agent company, insurance surveyor company, or in the position of deputy head of a bank’s separate department operating insurance broker or agent business and has performed with excellence in such position;2. has performed the work of insurance agent or broker for at least five years.3. Has other academic or employment experience sufficient to show that he/she has professional insurance expertise, or experience in managing an insurance business, and is capable of operating an insurance agent business soundly and efficiently.The appointment or dismissal of the general manager mentioned in the preceding paragraph shall be duly registered with the competent authority in charge of company registration.