Regulations Governing the Supervision of Insurance Solicitors Article 10

Where there is any change to a solicitor’s status, the employing company shall report to the appropriate industry association within five days of occurrence in accordance with the following provisions:1. Where there has been a change in the registration items, the employing company shall register the change.2. Where a solicitor has been sanctioned to stop solicitation activities, the employing company shall register the suspension of solicitation.3. Where a solicitor has any situation under Article 7 herein or has died, lost legal capacity, terminated the employment contract, or otherwise ceased solicitation activities, the employing company shall register the cancellation of solicitor’s registration.4. Where a solicitor has registration revoked under Article 11-1, Article 13 or paragraph 3 of Article 19 herein, the employing company shall register the revocation.Under any of the situations set forth in subparagraphs 2 ~ 4 of the preceding paragraph, a solicitor shall surrender his or her registration certificate to the original employing company. The date of change in a solicitor’s status under subparagraph 3 of the preceding paragraph shall be the date on which the solicitor has completed the change formalities.Until the employing company has completed the formalities for registering the change in solicitor’s status, the insurance solicitation activities of such solicitor shall still be deemed as solicitation undertaken by the employing company.If the employing company ceases business operation, is dissolved, or is otherwise unable to continue business operation or conduct business activities for any other reason, it shall file on behalf of all of its solicitors registration cancellation with the appropriate industry association. Where the employing company fails to make such filing, a solicitor may request the trade association of which the employing company is a member to file cancellation of registration on his or her behalf with the appropriate industry association.After a solicitor has terminated his or her employment contract with the employing company, the solicitor may apply through the trade association of which the employing company is a member for cancellation of registration, provided his or her employing company did not carry out the cancellation of the solicitor’s registration without justified causes.If the application in the preceding paragraph is found factual, the appropriate industry association shall cancel the solicitor’s registration and notify the employing company.