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ENFORCEMENT RULES OF THE MUTUAL SAVINGS BANKS ACT

Wholly Amended by Ordinance of the Prime Minister No. 153, Jul. 11, 2000

Amended by Ordinance of the Prime Minister No. 875, Mar. 3, 2008

 Article 1 (Purpose)
The purpose of these Rules are to prescribe matters delegated by the Mutual Savings Banks Act and the Enforcement Decree of the same Act and matters necessary for the enforcement thereof. <Amended by Ordinance of Prime Minister No. 875, Mar. 3, 2008>
 Article 2 (Standards for Authorization for Establishment of Branch Offices)
The term "number of personnel and facilities prescribed by Ordinance of the Prime Minister" in Article 5 (1) 1 of the Enforcement Decree of the Mutual Savings Banks Act (hereinafter referred to as the "Decree") shall mean the following: <Amended by Ordinance of Prime Minister No. 875, Mar. 3, 2008>
1. The number of personnel: 10 persons or less; and
2. Facilities: Floor space of offices and other incidental facilities necessary for performance of duties shall not exceed 400㎢.
 Article 3 (Matters to be Entered in Articles of Incorporation)
Articles of incorporation under Article 6 (2) 1 of the Decree shall state the following matters:
1. Trade name;
2. Objectives and business affairs;
3. Seat of the head office;
4. Capital stock;
5. Business boundaries;
6. Methods of making public notification; and
7. Other necessary matters.
 Article 4 (Details of Business Manual)
A business manual under Article 6 (2) 2 of the Decree shall state the following matters:
1. Types of each item of business;
2. Agreements relating to business (excluding incidental agreements);
3. Methods for receiving fraternity dues, installments, deposits and installment deposits and methods for collecting loaned money;
4. Methods for payment of benefits, loaned money, amounts of discount on bills, and refunds;
5. Rate calculation sheets; and
6. Other important matters relating to business.
 Article 5 (Terms to be Stated in Agreements)
Agreements relating to business under subparagraph 2 of Article 4 shall state the following matters;
1. Grounds giving rise to payment of benefits and refunds;
2. Matters relating to collection of amounts of damage caused by delayed payment of fraternity dues, installments and installment deposits;
3. Matters relating to collection of amounts of damages caused by delayed redemption of loaned money;
4. Matters relating to terms and effect of cancellation of a contract; and
5. Matters relating to transfer of rights and obligations relating to a contract.
 Article 6 (Matters to be Entered into Rate Calculation Sheet)
Rate calculation sheets under subparagraph 5 of Article 4 shall state the following matters:
1. Methods for calculation of interest rates, discount rates and service charges (hereafter in this Article referred to as "rates, etc.");
2. Matters relating to refund of interest, discount amounts or service charges;
3. Matters relating to calculation of rates, etc. in cases of amending a contract; and
4. Other matters necessary for calculation of rates, etc.
 Article 7 (Matters to be Entered into Project Plans)
Any estimated balance sheet and any estimated income and expenditure statement of project plans under Article 6 (2) 3 of the Decree shall state grounds for the calculation thereof.
 Article 8 (Procedure for Collecting Fines for Negligence)
The Rules of Business Handling by Revenue Collectors shall apply mutatis mutandis to the procedure for collecting fines for negligence under Article 31 (4) of the Decree. In such cases, a payment notice shall state methods for raising objections, period for formal objections, etc.
ADDENDUM
These Rules shall enter into force on the date of its promulgation.
ADDENDA<Ordinance of Prime Minister No. 875, Mar. 3, 2008>
Article 1 (Enforcement Date)
These Rules shall enter into force on the date of their promulgation.
Articles 2 and 5 Omitted.