Regulations Governing Insurance Brokers Article 7

A person possessing a broker qualification as set out in these Regulations and free of the situations provided in any subparagraph of paragraph 3 of the preceding article and subparagraph 26 of Article 49, after obtaining a practice license, practice business independently or as an employee of a corporate a broker company organization or a bank.A broker company or a bank shall employ at least one broker, and carry out registration of permission with the competent authority. The broker company or the bank shall make appropriate adjustment to the number of such persons according to the scale of its business and the number of its registered insurance solicitor. Where necessary, the competent authority may also require the broker company or the bank to employ additional brokers.After completing the registration of permission set out in the preceding paragraph, it shall duly carry out registration of incorporation with the appropriate competent authority in charge of company registration.An independent broker or a broker employed by a broker company or a bank shall not be concurrently employed by other broker companies, insurance agent companies, insurance surveyor companies or banks.