中华人民共和国商业银行法（二）

　　Article 42 A borrower shall repay the principal and interest of a loan on schedule.

　　When a borrower fails to repay a secured loan， the commercial bank has the right to be repaid the principal and interest of the loan or the priority of getting paid with the collateral thereof. A commercial bank shall dispose of the real estate or stocks on mortgage or pledge within a year from the date of obtaining.

　　A borrower shall assume the responsibility for failure to repay the unsecured loan falling due in accordance with the contract thereof.

　　Article 43 A commercial bank shall not engage in trust investment or stock business， or invest in real estate not for its own use within the People's Republic of China.

　　A commercial bank shall not invest in non-bank financial institutions or enterprises within the People's Republic of China. A commercial bank which has made investment in non-bank financial institutions or enterprises prior to the promulgation of this Law shall be subject to other provisions stipulated by the State Council.

　　Article 44 A commercial bank in handling settlements such as acceptance， remittance and collection shall make timely cashing and entries pursuant to relevant provisions without detaining bills or instruments or dishonoring them in violation of regulations. The relevant provisions for the time limit for bill acceptance and entries in accounting books should be made public.

　　Article 45 A commercial bank shall apply for approval for issuing financial bonds or seeking loans outside China in accordance with the law and administrative decrees.

　　Article 46 Inter-bank loan shall be subject to the time limit defined by the People's Bank of China and the maximum time for such financing shall not exceed four months. It is prohibited to use call money to extend loans on fixed assets or to make investment.

　　The call money for lending shall be only the idle fund after depositing required reserve， leaving adequate stand by reserve and repayment of loans falling due to the People's Bank of China. The call money for borrowing shall be used to meet the position shortage in inter branch settlement and inter branch remittance and temporary needs for turnover of funds.

　　Article 47 A commercial bank shall not receive money deposits or extend loans by raising or lowering interest rates or by other unjustifiable means in violation of regulations.

　　Article 48 An enterprise or undertaking may open a principal account with a commercial bank of its own choice for day to day transfer and settlement of accounts and cash receipt and payment， but it shall not open two or more principal accounts.

　　No organization or individual shall deposit the fund of an organization in an account opened in the name of an individual.

　　Article 49 A commercial bank shall fix its business hours to the convenience of its clients and make public announcement thereof. A commercial bank shall conduct its business during its announced business hours and shall not suspend business or shorten its business hours at will.

　　Article 50 A commercial bank shall collect commission fees on handling business and providing services in accordance with the stipulations of the People's Bank of China.

　　Article 51 A commercial bank shall preserve all the financial statements， business contracts and other information for a specified period in accordance with relevant state regulations.

　　Article 52 The staff of a commercial bank shall abide by the law， administrative decrees and regulations and other rules for the administration of various businesses and shall not have wrong conducts listed below：

　　（1） taking advantage of their positions to demand or accept bribes， or violating relevant state regulations to accept commissions or service fees under any pretext；

　　（2） taking advantage of their positions to commit em

bezzlement， misappropriation or unlawful possession of the funds of the bank or of clients；

　　（3） providing loans or guarantee to relatives or friends in violation of regulations；

　　（4） holding positions concurrently at other economic institution（s）；

　　（5） other acts in violation of the law， administrative decrees and regulations and rules in business management.

　　Article 53 The staff of a commercial bank shall not disclose state secrets or commercial secrets which they come into possession during their service in the bank.

　　Chapter V Financial Accounting

　　Article 54 A commercial bank shall establish and improve its financial accounting system in accordance with the law and the state unified accounting standards as well as the relevant stipulations of the People's Bank of China.

　　Article 55 A commercial bank shall， in accordance with relevant state regulations， truthfully and in an all-round way record and reflect its business activities and financial position， produce its annual financial accounting report and timely submit its financial statements to the People's Bank of China and the treasury department. A commercial bank shall not establish accounting books other than those legally specified.

　　Article 56 A commercial bank shall announce its business performance and audited statement of the previous fiscal year within three months after the end of every fiscal year in accordance with the stipulations of the People's Bank of China.

　　Article 57 A commercial bank shall retain a reserve against bad and doubtful accounts and write off bad debts in pursuance of relevant state regulations.

　　Article 58 The fiscal year of a commercial bank begins on the first of January and ends on the thirty-first of December of the Gregorian calendar.

　　Chapter VI Supervision and Administration

　　Article 59 A commercial bank shall formulate its business rules， establish and improve its business management， the system of cash control and its security system in accordance with the stipulations of the People's Bank of China.

　　Article 60 A commercial bank shall establish and improve its systems of examining and checking deposits， loans and settlement， bad and doubtful accounts and other business activities.

　　A commercial bank shall conduct regular examination and checks on its branches.

　　Article 61 A commercial bank shall periodically submit to the People's Bank of China balance sheets， profit and loss statements and other financial statements and information.

　　Article 62 The People's Bank of China is authorized to exercise examination of and supervision over the deposits， loans， settlements and bad and doubtful accounts of a commercial bank at any time in accordance with the provisions of Chapter III， Chapter IV and Chapter V of this Law. The personnel in charge of the examination and supervision should produce legitimate certificates at the time of conducting examination and supervision. A commercial bank shall provide financial accounting information， business contracts and other information about its business and management at the request of the People's Bank of China.

　　Article 63 A commercial bank is subject to the audit control by the auditing authorities in accordance with the audit law and regulations.

　　Chapter VII Takeover and Termination

　　Article 64 When a commercial bank is in or is liable to be in a credit crisis thus seriously threatening the interests of the depositors， the People's Bank of China may take over the said bank.

　　The purpose of the takeover is to take necessary measures with regard to the commercial bank taken over in order to protect the interests of the depositors and help the commercial bank resume its normal operation. The debtor-creditor relationship of the commercial bank existing before the takeover remains unchanged.

　　Article 65 The Peo

ple's Bank of China shall determine a takeover and organize its implementation. The People's Bank of China shall specify the following contents in its takeover decision：

　　（1） the name of the commercial bank to be taken over；

　　（2） the reason（s） for the takeover；

　　（3） the organization of the takeover；

　　（4） the time limit of the takeover.

　　The decision for the takeover shall be made public by the People's Bank of China.

　　Article 66 A takeover begins on the day of implementation of the takeover decision.

　　The organization in charge of the takeover shall begin exercising the power over the management of the commercial bank from the day of implementing the takeover decision.

　　Article 67 On expiration of the term of the takeover， the People's Bank of China may determine to prolong the takeover， but the term shall not exceed two years to the maximum.

　　Article 68 Takeover shall be terminated in any of the following cases：

　　（1） that the term of the takeover expires or the prolonged term of takeover determined by the People's Bank of China expires；

　　（2） that prior to the expiration of the term of takeover， the commercial bank has recovered its capacity of normal operation； or

　　（3） that prior to the expiration of the term of takeover， the commercial bank has been merged or declared bankrupt in accordance with the law.

　　Article 69 When a commercial bank splits， or merges with another one， or dissolves on reasons for dissolution pursuant to the statute of the bank， it shall submit an application to the People's Bank of China with reasons for the dissolution and a plan for liquidation， including repaying the principals and interests of deposits. It shall be dissolved with the approva

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