Article 89
The insurance company needs to be dissolved due to division or merger, or the shareholders' meeting or shareholders' meeting decides to dissolve, or the company
If the reasons for dissolution stipulated in the Articles of Association arise, it shall be dissolved with the approval of the State Council Insurance Regulatory Authority.
An insurance company engaged in life insurance business shall not be dissolved except for division, merger or cancellation according to law.
When an insurance company is dissolved, a liquidation group shall be established according to law for liquidation.
Article 90
The insurance company has the circumstances stipulated in Article 2 of the Enterprise Bankruptcy Law of the People's Republic of China, and has been approved by the the State Council Insurance Regulatory Commission.
Regulators agree that,
An insurance company or its creditors may apply to the people's court for reorganization according to law,
Reconciliation or bankruptcy liquidation;
The State Council insurance supervision and administration institution may also apply to the people's court for reorganization or bankruptcy liquidation of the insurance company according to law.
Article 91
After paying off the bankruptcy expenses and debts first, the bankruptcy property shall be paid off in the following order:
( 1)
Wages owed to employees and medical care, disability benefits,
Pension expenditure,
The basic pension owed should be included in the employee's personal account.
Insurance, basic medical insurance premiums and salaries payable to employees as stipulated by laws and administrative regulations;
(2) Compensation or payment of insurance benefits;
(3) Social insurance premiums and taxes owed by insurance companies other than those specified in Item (1);
(4) Ordinary bankruptcy claims.
If the bankruptcy property is insufficient to pay off the repayment requirements in the same order, it shall be distributed in proportion.
The wages of directors, supervisors and senior managers of bankruptcy insurance companies shall be calculated according to the average wages of employees of the company.
Article 92
If an insurance company engaged in life insurance business is revoked or declared bankrupt according to law, it holds
Life insurance contracts and liability reserves,
Must be transferred to other insurance companies to engage in life insurance business;
Can't be with others.
Where an insurance company has reached a transfer agreement,
An insurance company engaged in life insurance business designated by the the State Council Insurance Regulatory Authority.
Accept the transfer.
The State Council Insurance Regulatory Authority designates to transfer or accept the transfer of the life insurance contract and liability reserve specified in the preceding paragraph.
The legitimate rights and interests of the insured and the beneficiary should be guaranteed.