INDUSTRIAL BANK OF KOREA ACT

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Act is to promote independent economic activities of small and medium proprietors and to enhance their economic status by establishing the Industrial Bank of Korea which contributes to the establishment of an efficient credit system for the small and medium proprietors.

[This Article Wholly Amended on Mar. 12, 2010]

Article 2(Definitions) #

(1) For the purpose of this Act, the term "small and medium proprietors" means those provided for in Article 2 of the Framework Act on Small and Medium Enterprises (including any person who is deemed a small or medium proprietor).

(2) The Small and Medium Enterprise Cooperatives provided for in Article 3 of the Small and Medium Enterprise Cooperatives Act and entities organized to promote the interests of small and medium proprietors shall be deemed small and medium proprietors.

[This Article Wholly Amended on Mar. 12, 2010]

Article 3(Legal personality) #

(1) The Industrial Bank of Korea shall be a body corporate.

(2) The Industrial Bank of Korea shall be managed in accordance with this Act, orders issued under this Act, and its articles of incorporation.

(3) Unless otherwise provided for in this Act, the provisions of the Banking Act and the Act on Corporate Governance of Financial Companies shall apply to the Industrial Bank of Korea. <Amended on Jul. 31, 2015>

[This Article Wholly Amended on Mar. 12, 2010]

Article 4(Establishment of head office, branches, sub-branches, and agents) #

(1) The Industrial Bank of Korea shall have its head office in Seoul Special Metropolitan City.

INDUSTRIAL BANK OF KOREA ACT

Article 1(Purpose) #

Article 2(Definitions) #

Article 3(Legal personality) #

Article 4(Establishment of head office, branches, sub-branches, and agents) #

Article 5(Capital) #

Article 6(Articles of incorporation) #

Article 7(Registration) #

Article 8(Restriction on use of name) #

Article 9(Dissolution) #

Article 10 #

Article 11 #

Article 12 #

Article 13 #

Article 14 #

Article 15 #

Article 16 #

Article 17 #

Article 18 #

Article 19 #

Article 20 #

Article 21 #

Article 22 #

Article 23 #

Article 24(Executive officer) #

Article 25(Duties of executive officers) #

Article 25-2(Board of directors) #

Article 26(Appointment and dismissal of executive officers) #

Article 27(Term of office) #

Article 28(Restrictions on holding concurrent offices by executive officers and employees) #

Article 29(Limitation on representation by president of the industrial bank of korea) #

Article 30(Designation of agents) #

Article 31(Appointment and dismissal of employees) #

Article 32(Legal fiction as public officials for purposes of penalty provisions) #

Article 33(Business) #

Article 33-2 #

Article 33-3(Research, surveys on small and medium enterprises) #

Article 33-4(Payment reserves) #

Article 34(Borrowings of small and medium enterprise funds) #

Article 35(Business plans) #

Article 35-2(Business manual) #

Article 36(Management of credit funds) #

Article 36-2(Issuance of small and medium business financial bonds) #

Article 36-3(Issuance of bond for refunding) #

Article 36-4(Discount) #

Article 36-5(Government's guarantee on bonds) #

Article 36-6(Extinctive prescription) #

Article 36-7(Mandatory matters) #

Article 37(Fiscal year, budget, and settlement of accounts) #

Article 38 #

Article 39 #

Article 40 #

Article 41 #

Article 42(Disposal of profits) #

Article 43(Making-up for losses) #

Article 44(Operation of surplus funds) #

Article 45 #

Article 46(Supervision) #

Article 47 #

Article 48(Submission of reports and inspection of documents) #

Article 49(Annual reports) #

Article 50(Exemption of taxes and public charges) #

Article 51(Restrictions on holding moveable or real property) #

Article 52(Relation to other Acts) #

Article 53(Succession to and investment of claims on government fund loans) #

Article 54(Special measures for investment by civilians) #

Article 54-2 #

Article 55(Succession to property and business) #

Article 56 #

Article 57(Credit loans to local governments) #

Article 58(Special cases for transactions) #

Article 59(Administrative fine) #