What contents does the annual general meeting of members of a mutual organization providing micro insurance decide?

When does the general meeting of members have the highest decision-making power of a mutual organization providing micro insurance?

According to Clause 1, Article 21 of the Decree 21/2023/ND-CP then:

Membership meeting

1. For mutual organizations providing micro insurance where the founding members are individuals, the General Meeting of Members has the highest decision-making authority of the mutual organization providing micro insurance. The membership congress includes the annual membership congress and the extraordinary membership congress. The members’ congress is held in the form of a general meeting.

Thus, the members’ congress has the highest decision-making authority of the mutual organization providing micro insurance when the mutual organizations provide micro insurance whose founding members are individuals,

The membership congress includes the Annual Members’ Congress and the Extraordinary Members’ Congress. The members’ general meeting is held in the form of a general meeting.

The annual general meeting of members of a mutual organization providing micro-insurance to decide which contents?

The annual general meeting of members of a mutual organization providing micro-insurance convened by the Board of Directors must be held within 03 months from the end of the fiscal year to decide the contents to be determined. stipulated in Clause 2, Article 21 of Decree 21/2023/ND-CP as follows:

– Approve the annual performance report of the mutual organization providing micro insurance; Report on activities of the Board of Directors, Board of Directors and Supervisory Board or Controllers;

– Approve plans, operational and financial plans for the next year of the mutual organization providing micro insurance;

– Appropriate funds according to the provisions of law; Reduce insurance premiums for members in the next fiscal year at the request of the Board of Directors:

– Decision to mobilize additional capital;

– Election and dismissal of members of the Board of Directors and Supervisory Board;

– Dissolution of the mutual organization providing micro insurance;

– Amending and supplementing the Charter of mutual organizations providing micro insurance;

– Remuneration for members of the Board of Directors, Board of Directors, Supervisory Board or Controller and other positions (if any) of the mutual organization providing micro insurance;

– Other issues as requested in writing by the Board of Directors or by at least 1/3 of the total members of the mutual organization providing micro insurance.

The members’ general meeting is held when there is at least 75% of the total members; In case there is not enough members, the membership meeting must be postponed. After 30 days from the scheduled date of the first meeting, the second general meeting of members shall be held when at least 50% of the total members are present.

In case the second meeting does not meet the conditions to proceed, a third meeting will be held regardless of the number of members attending within 20 days from the intended date of the second meeting.

In what cases is an extraordinary general meeting of members of a mutual organization providing micro insurance convened?

The extraordinary general meeting of members is convened by the Board of Directors, Supervisory Board or Controllers or representative members of at least one-third of the total number of members of the mutual organization providing micro insurance in the cases specified in Clause 3, Article 21 of Decree 21/2023/ND-CP as follows:

– Resolve issues beyond the authority of the Board of Directors;

– The Board of Directors failed to hold a regular meeting after two convenings;

– At the request of the Supervisory Board or Controller;

– Upon request of at least one-third of the total number of members.

Within 15 days from the date of receiving the request of the Supervisory Board, Controllers or the request of at least one-third of the total number of members, the Board of Directors must convene an extraordinary General Meeting of Members.

In case the 15-day period has passed and the Board of Directors does not convene an extraordinary General Meeting of Members, the Supervisory Board or Controllers have the right to convene a General Meeting of Members.

Within 15 days from the date the Supervisory Board or Controller has the right to convene without convening an extraordinary General Meeting of members as prescribed in Clause 3 of this Article, members representing at least one-third of the total number of members have the right to convene the general meeting.

What organizations include micro insurance providers?

Micro insurance providers include the organizations specified in Clause 1, Article 2 of Decree 21/2023/ND-CP as follows:

– Non-life insurance enterprises, life insurance enterprises, health insurance enterprises health (hereinafter referred to as insurance enterprise), branch of foreign non-life insurance enterprise established and operating in Vietnam;

– Mutual organization providing micro insurance established and operating in Vietnam.