The conditions of the shareholders of the guarantee company shall be agreed by the shareholders' meeting. According to relevant laws and regulations, if it is an external guarantee, a decision of the shareholders' meeting is not required. Public welfare institutions such as schools, kindergartens and medical institutions cannot be used as guarantors.
Legal objectivity:
Article 683 of the Civil Code of People's Republic of China (PRC) * * * A legal person organ may not act as a guarantor, except for loans to foreign governments or international economic organizations approved by the State Council. A legal person not for profit or an unincorporated organization for public welfare may not act as a guarantor. Article 16 "General Principles of Civil Law of People's Republic of China (PRC)" Where a company invests in other enterprises or provides guarantees for others, it shall be decided by the board of directors or the shareholders' meeting in accordance with the provisions of the company's articles of association; Where the articles of association stipulate limits on the total amount of investment or guarantee and the amount of individual investment or guarantee, it shall not exceed the prescribed limits. Where a company provides a guarantee for the company's shareholders or actual controllers, it must be resolved by the shareholders' meeting or the shareholders' meeting. Shareholders specified in the preceding paragraph or shareholders controlled by actual controllers specified in the preceding paragraph shall not participate in voting on matters specified in the preceding paragraph. The voting shall be passed by more than half of the voting rights held by other shareholders present at the meeting.