Chapter III
ORGANIZATION, MANAGEMENT, CONTROL AND ADMINISTRATION OF SMALL-SIZED FINANCIAL INSTITUTIONS
Article 16. Organizational structure of small-sized financial institutions
1. Small-sized financial institutions shall each have a Managing Board, a Control Board and a general director (director).
2. The Managing Board of a small-sized financial institution not allowed to receive voluntary savings comprises at least three persons; and the Control Board, at least one person.
3. The Managing Board of a small-sized financial institution allowed to receive voluntary savings comprises at least three persons; and the Control Board, at least three persons.
4. The Managing Board, the Control Board and the general director (director) of a small-sized financial institution must meet the requirements on professional qualifications and ethics under the State Bank's regulations.
5. The election, appointment and dismissal of members of the Managing Board, the Control Board or the general director (director) of a small-sized financial institution shall comply with the State Bank's regulations.
Article 17. Functions and tasks of the Managing Board, the Executive Board, the Control Board
1. The Managing Board shall perform the task of managing the small-sized financial institution according to the provisions of law; decide on operation undertakings and orientations of such institution and have other rights and obligations defined in its charter.
2. The Executive Board, comprising the general director (director) and deputy general directors (deputy directors), shall, on behalf of the Managing Board, manage and administer the small-sized financial institution. The general director (director) of the small-sized financial institution shall be the legal-person representative of such institution.
3. The Control Board shall, on behalf of the Managing Board, control financial operations of the small-sized financial institution and executive operations of the general director (director) in exercising other rights and performing other obligations defined in the charter of such institution.
Article 18. Persons who must not be members of the Managing Board, the Control Board or general directors (directors)
1. Those who are being examined for penal liabilities.
2. Those who have been convicted for serious crimes of infringing upon national security, socialist ownership or citizens' ownership; or serious economic crimes.
3. Those who have been convicted for other crimes and their verdicts have not yet been remitted.
4. Those who once were members of the Managing Board or general director (director) of a bankrupt company, except for cases prescribed by the legislation on bankruptcy.
5. Those who once were at-law representatives of companies forced to terminate operation due to serious law violations.
6. Those who are fathers, mothers, wives, husbands, children or siblings of members of the Managing Board or the Control Board, the general director (director) of a small-sized financial institution.
Article 19. Opening and termination of operation of branches
1. Small-sized financial institutions may open branches in domestic localities where exist the operation needs. The opening of branches and termination of their operation must be approved in writing by the State Bank.
2. The conditions, dossiers and procedures for opening branches and terminating operations of branches of small-sized financial institutions shall comply with the State Bank's guidance.
Article 20. Capital contribution and transfer of contributed capital
1. Organizations and individuals shall contribute capital to small-sized financial institutions under capital-contribution contracts.
2. The capital contribution and transfer of contributed capital shall comply with the State Bank's regulations.
Tìm kiếm
Nghị định 28/2005/NĐ-CP (Bản Word)