Responsibility for notification
Changes or modifications in name, representatives, address, or contact of the association member must be reported to maintain associative rights and duty.
- ※ Under the Industrial Development Law, investment securities (shares) of the association cannot be used for pledging purposes except in cases where the securities are provided as collateral for their debt.
In case of change of address or contact information
- Phone call or official documents should be used for notification
- In case of transition from individual company to cooperation, transfer of investment certificate must be carried out.
Membership Cancellation
- Association members may exit the association by their own discretion, and will be automatically withdrawn in the following cases
- Violation of rights
- Dismissal or bankruptcy
- Expulsion caused by agreement of the executive committee
Refund of capital investment
- n case of exit, all investment capital (capital + shares) will be fully refunded, when all financial transactions are completed with the association.
- In terms of association certificate, according to the Industrial Development Law, it is valid up to 2 years after the end of the term of the insurance. It takes 2 years to naturally nullify guaranteed liability. Therefore it is required to get confirmation on all guarantee execution from all bond holders.