(1)Articles of Association of the insurance company;
(2) Name list of the shareholders and their share of stock, or investors and their capital contributions;
(3) Certificate of credit standing and related materials from shareholders holding 10% or more of the company's equity share;
(4) Capital verification report issued by lawful verification agencies;
(5) Resumes and certificates of qualification for those upper-level management personnel who are proposed to take office in the company;
(6) Information about the operation sites and other facilities related with business operations; and
(7) Other documents and materials required by the departments in charge of financial supervision and management.

Article 75. The departments in charge of financial supervision and management shall make a decision whether or not to give approval within six months upon receipt of all required official application documents for the establishment of an insurance company.

Article 76. Upon granting approval for the establishment of an insurance company, the approving department shall issue a license for insurance business operations. The insurance company based on such license shall register with the Administration for Industry and Commerce and obtain a business license.

Article 77. Where an insurance company fails to register the company's establishment within six months after obtaining the license for insurance business operations, said license shall automatically be invalidated.

Article 78. After the establishment of an insurance company, a guarantee of 20% of its total paid-in currency capital funds shall be set aside, to be deposited in a bank specified by the departments in charge of financial supervision and management, and shall not be used for purposes other than payment debts upon liquidation of the insurance company.

Article 79. An insurance company must gain approval from the departments in charge of financial supervision and management for the establishment of branch organs within the People's Republic of China or abroad and obtain a license to engage in insurance business operations therefrom.

Such a branch organ shall not have the status of a legal enterprise person; its civil liability shall be borne by the insurance company.

Article 80. An insurance company must obtain approval from the departments in charge of financial supervision and management to establish representative organs outside the People's Republic of China.

Article 81. Any of the following alterations by an insurance company shall be subject to approval by the departments in charge of financial supervision and management:

(1) alteration of the name;
(2) alteration of the Registered Capital;
(3) alteration of the business site of a company or its branches;
(4) adjustment to the business scope;
(5) split or merger of the company;
(6) amendment to the Articles of Association of the company; or
(7) other alterations as stipulated by the departments in charge of financial supervision and management.

Replacement of the Chairman of the Board of Directors or the General Manager shall be subject to examination of qualifications for taking office by the departments in charge of financial supervision and management.

Article 82. The organizational structure of insurance companies shall refer to the stipulations of the Company Law of the People's Republic of China.

Article 83. Wholly owned State-invested insurance companies shall establish a Board of Supervisors shall be established in the Board of Supervisors shall consist of representatives from the departments in charge of financial supervision and management, relevant experts and staff members of the insurance companies, and shall supervise such aspects as the withdrawal of all types of reserve funds, the minimum solvency and the preservation of or increase in the value of State-owned assets, as well as actions of the upper-level management personnel which violate the law, administrative regulations or the Articles of Association or actions that harm the interest of the companies.

Article 84. Upon split or merger of an insurance company or upon appearance of any causes for dissolution as stipulated in the Articles of Association, an insurance company may be dissolved subject to the approval of the departments in charge of financial supervision and management. The insurance company shall appoint a liquidation group in accordance with the law to conduct liquidation.

Insurance companies engaging in life insurance may be split or merged, but shall not be dissolved.

Article 85. In the event an insurance company violates the law or administrative regulations and its license for insurance business operations is suspended by the departments in charge of financial supervision and management, the license shall be revoked in accordance with the law; the departments in charge of financial supervision and management shall organize a liquidation group in accordance with the law to conduct liquidation of the company.

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