(Matters to be described in the Articles of Incorporation)
Article 31. The following matters shall be described in the articles of incorporation:
(1)Purpose;
(2)Title;
(3)Seat of Office
(4)Matters concerning capital, investment and assets;
(5)Matters concerning officers;
(6)Matters concerning council;
(7)Matters concerning business and its enforcement;
(8)Matters concerning financial affairs and accounts;
(9)Matters concerning the method of alteration of the articles of incorporation of the Organization, which shall not be in effect unless approved by the Minister of Transport.
(Officers)
Article 32. One Chairman and one Vice-Chairman of the Board of Directors, not more than seven Directors, and one Auditor will be appointed as the officers of the Organization.
(Duties and Responsibilities)
Article 33. The Chairman of the Board of Directors shall represent the Organization, governing its business.
2. The Vice-Chairman shall represent the Organization and managing the business of the Organization, assisting the Chairman, under the provisions of the Articles of Incorporation, and shall carry out the duties of the Chairman in case of need, and assume the duties of the Chairman in case said position becomes vacant.
3. The Directors shall assist the Chairman and the Vice-Chairman in managing the business of the Organization under the provisions of the Articles of Incorporation, and shall carry out the duties of the Chairman and the Vice- Chairman in case of need, and assume the duties of the Chairman and the Vice- Chairman in case said positions become vacant.
4. The Auditor will audit the business transactions of the Organization.
5. The Auditor may present his opinions based on the results of the audit concerned, when deemed necessary, to the Chairman or the Minister of Transport.
