Insurance Law of the People's Republic of China (Adopted at the 14th Session of the Standing Committee of the Eighth National People's Congress on June 30, 1995, and promulgated by Order No. 51 of the President of the People's Republic of China on June 30, 1995)
Insurance Law of the People's Republic of China (Adopted at the 14th Session of the Standing Committee of the Eighth National People's Congress on June 30, 1995, and promulgated by Order No. 51 of the President of the People's Republic of China on June 30, 1995)
Chapter VII - Legal Responsibility
Article 142
Whoever, in violation of the provisions of this Law, illegally engages in insurance agency business or insurance brokerage business without obtaining a license for engaging in the insurance agency business or a license for engaging in the insurance brokerage business, shall be annulled by the financial supervision and control department, confiscated its illegal gains, and imposed a fine equivalent to more than five times and less than 10 times of its illegal gains. If a crime is constituted, criminal responsibility shall be investigated according to law.
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