Section 56: Management of Insurance Company

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1) The insurance company may hire employees as necessary to operate its insurance business.

2) Notwithstanding anything mentioned in sub-section (1), a person with financial interest in the insurance company shall not be hired as employee.

3) While making management expenses during the operation of the insurance business by the insurer, the interest of the insured shall be protected.

4) The limit of management expenses and other provisions pursuant to sub-section (3) shall be as determined by the Authority.

Tagged:
insurance act
nepal law

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