DE COMPROMISOS DE LA CARTA DE SERVICIOS

Incorporation, Management and Representation

Article 265. (1) Supplementary voluntary unemployment and/or vocational-training insurance shall be implemented through participation in a supplementary voluntary unemployment or vocational-training insurance fund, which shall be incorporated and managed by licensed unemployment and/or vocational-training insurance companies.

(2) The supplementary voluntary unemployment or vocational-training insurance fund shall be incorporated by a resolution of the General Meeting of the unemployment and/or vocational-training insurance company, which shall also adopt the Rules of the said fund.

(3) An unemployment and/or vocational-training insurance company may incorporate and manage only one supplementary voluntary unemployment insurance fund and one supplementary voluntary vocational-training fund.

(4) The supplementary voluntary unemployment or vocational-training insurance fund shall be managed and represented by the managing bodies of the social insurance company.

(5) The unemployment and/or vocational-training insurance company and the supplementary voluntary unemployment insurance fund or the supplementary voluntary vocational-training insurance fund shall have separate legal personality.

(6) Supplementary voluntary unemployment or vocational-training insurance funds shall be incorporated at will.

(7) The registered office and the address of the place of management of the supplementary voluntary unemployment or vocational-training insurance fund shall be mandatorily coincident with the registered office and the address of the place of management of the social insurance company.

Liability of Unemployment and/or Vocational-Training Insurance Company

Article 266. (1) The unemployment and/or vocational-training insurance company shall be liable to the insured persons by the property of the company for any losses which have occurred as a result of fulfillment in bad faith of the obligations of the company regarding the management and representation of the supplementary voluntary unemployment or vocational-training insurance funds.

(2) The social insurance company under Paragraph (1) shall guarantee by its assets the fulfillment of the obligations thereof to the insured persons.

(3) The supplementary voluntary unemployment or vocational-training insurance fund shall not be liable for any obligations and for any losses of the social insurance company which manages and represents the said fund.

Business Name of Unemployment or Vocational-Training Fund

Article 267. (1) The business name of an unemployment or vocational-training fund shall mandatorily include a collocation of the words "supplementary", "voluntary", "insurance", "unemployment", "vocational-training" and "fund" or any derivatives of the said words, as well as an indication of the type of the fund.

(2) Only a fund registered in accordance with this Code may use in its business name any collocation of the words under Paragraph (1) or any words of equivalent meaning in the Bulgarian or any foreign language.

Prohibition of Acquisition by Prescription

Article 268. The assets of a supplementary voluntary unemployment or vocational- training insurance fund may not be acquired by prescription.

Supplementary Voluntary Unemployment or Vocational-Training Insurance Fund Management Authorization

Article 269. (1) A supplementary voluntary unemployment or vocational-training insurance fund management authorization shall be issued by the Deputy Chairperson of the Commission. Any licensed unemployment and/or vocational-training insurance company wishing to obtain an authorization shall submit a written request, enclosing therewith:

1. the resolution of the General Meeting of the licensed social insurance company on incorporation of a supplementary voluntary unemployment or vocational-training insurance fund;

2. the Rules of Organization and Operation of the fund; 3. standard forms of social insurance contracts;

4. a tentative agreement with a custodian bank and with an investment intermediary; 5. information on the software and hardware of the information system of the fund; 6. a financial statement of the company at the last day of the preceding month;

7. information on the organizational structure of the company and the human resources available thereto;

8. (Amended, SG No. 34/2006) a current certificate of entry of the social insurance company in the Commercial Register.

(2) The Deputy Chairperson of the Commission may require other data and additional information in connection with the documents under Paragraph (1) and allow a time limit for the submission of the said data and information.

Time Limit for Consideration of Request for Supplementary Voluntary Unemployment or Vocational-Training Insurance Fund Management

Authorization

Article 270. (1) The Deputy Chairperson of the Commission shall issue or refuse issuance of an authorization within one month after receipt of the request under Article 269 herein, and where additional information and documents have been required, within one month after submission of the said information and documents.

(2) Where a request for issuance of an authorization has been accepted with missing or non-conforming documents, the Deputy Chairperson of the Commission shall notify the social insurance company of the non-conformities within 14 days and shall allow a time limit for their curing.

(3) The Deputy Chairperson of the Commission shall notify the applicant in writing of the decision under Paragraph (1) within seven days after adoption of the said decision.

Refusal to Issue Supplementary Voluntary Unemployment or Vocational- Training Insurance Fund Management Authorization

Article 271. (1) The Deputy Chairperson of the Commission shall refuse to issue an authorization where:

1. after expiry of the time limit allowed under Article 270 (1) and (2) herein, the additional documents or information have not been submitted or the non-conformities have not been cured;

2. the requirements of this Code are not fulfilled;

3. the social insurance company lacks sufficient financial, human and information resources.

(2) In case of refusal, the social insurance company may not reapply for a supplementary voluntary unemployment or vocational-training insurance fund management authorization earlier than six months after the date of the refusal.

Recording by Court

Article 272. (1) The district court exercising jurisdiction over the registered office of the supplementary voluntary unemployment or vocational-training insurance fund shall record in its register the fund if the social insurance company has submitted an application for registration within six months after receipt of the authorization by the Deputy Chairperson of the Commission.

(2) The application for recording by the court shall state:

1. the business name, registered office and address of the place of management of the company;

2. the business name of the unemployment or vocational training-insurance fund; 3. the forenames, patronymics and surnames and the Standard Public Registry Personal Numbers of the persons who manage and represent the social insurance company.

1. a certified copy of the licence of the unemployment and/or vocational-training insurance company;

2. the Articles of Association of the unemployment and/or vocational-training insurance company;

3. (Amended, SG No. 34/2006) a current certificate of entry of the unemployment and/or vocational-training insurance company in the Commercial Register;

4. the resolution of the General Meeting of the company on incorporation of a supplementary voluntary unemployment or vocational-training insurance fund;

5. the Rules of the supplementary voluntary unemployment or vocational-training insurance fund;

6. the supplementary voluntary unemployment or vocational-training insurance fund management authorization from the Deputy Chairperson of the Commission.

(4) The business name of the supplementary voluntary unemployment or vocational- training insurance fund; the business name, registered office and address of the place of management of the company which has incorporated the fund; the manner of representation of the company shall be recorded in the register of the district court.

(5) The existence of a supplementary voluntary unemployment or vocational-training insurance fund shall commence as from the date of recording of the said fund in the court register.

Time Limit for Pronouncement by Court

Article 273. The court shall consider the application for recording of a supplementary voluntary unemployment or vocational-training insurance fund within 14 days after the date of submission of the said application.

Submission of Transcript of Judgment of Court

Article 274. The unemployment and/or vocational-training insurance company shall be obligated to submit to the Commission a certified transcript of the judgment of court on recording of a supplementary voluntary unemployment or vocational-training insurance fund within seven days after receipt of the said judgment.

Recording Costs

Article 275. All costs incurred on the incorporation, on obtaining of a management authorization and on recording of a supplementary voluntary unemployment or vocational- training insurance fund shall be for the account of the supplementary unemployment and/or vocational-training insurance company.

Revocation of Fund Management Authorization

Article 276. The Deputy Chairperson of the Commission shall revoke a supplementary voluntary unemployment or vocational-training insurance fund management authorization upon:

1. ascertainment that the documents which served as grounds for the issuance of the authorization contain untrue data;

2. failure to submit an application for recording at the court within six months after receipt of the supplementary voluntary unemployment or vocational-training insurance fund management authorization;

3. transformation of the social insurance company whereby the management of the fund is transferred to another social insurance company;

4. dissolution of the fund due to merger by acquisition or merger by the formation of another supplementary voluntary unemployment or vocational-training insurance fund;

5. existence of a real and imminent jeopardy to the interests of the insured persons; 6. revocation of the licence of the social insurance company managing the fund. Obligations of Social Insurance Company after Revocation of Supplementary Voluntary Unemployment or Vocational-Training Insurance Fund Management

Authorization

Article 277. (1) After revocation of a supplementary voluntary unemployment or vocational-training insurance fund management authorization, the unemployment and/or vocational-training insurance company may not conclude new contracts or offer new conditions for supplementary voluntary unemployment or vocational-training insurance, nor modify the said conditions, including the time limit and the amount of contributions under contracts as concluded.

(2) The revocation of the authorization shall not exempt the social insurance company from the obligations thereof under concluded contracts.

Obligations of the Deputy Chairperson of Commission after Revocation of Supplementary Voluntary Unemployment or Vocational-Training Insurance

Fund Management Authorization

Article 278. The Deputy Chairperson of the Commission shall transmit a communication on the revocation of a supplementary voluntary unemployment or vocational- training insurance fund management authorization to the court which has effected the recording, shall cause promulgation of the communication in the State Gazette and shall insert the said communication in at least two national daily newspapers.

Rules of Organization and Operation of Supplementary Voluntary Unemployment or Vocational-Training Insurance Fund

Article 279. (1) The Rules of Organization and Operation of a supplementary voluntary unemployment or vocational-training insurance fund shall be adopted by the Shareholders' General Meeting of the unemployment and/or vocational-training insurance company.

(2) The Rules of Organization and Operation of the fund must state: 1. the business name of the fund;

2. the business name, registered office and address of the place of management of the social insurance company which manages the fund;

3. the terms and procedure for conclusion of social insurance contacts, the procedure for amending and supplementing the said contracts, and the conditions for the termination thereof;

4. the terms and procedure for keeping individual accounts of persons insured against unemployment and/or for vocational training and of social insurance contributor accounts for vocational training and for presentation of statements of the said accounts;

5. the period and manner of allocation of the return on investment and the principal objectives and restrictions on the investment policy of the fund;

6. the amount of fees and deductions charged by the social insurance company;

7. the terms, procedure and time limits for payment of unemployment benefits and resources for training;

8. the terms, procedure and time limits for transfer of the resources accrued on the individual account and on the social insurance contributor account;

9. the terms and procedure for amending and supplementing the Rules;

10. the manner and procedure for submission of notices and communications related to the activity of the fund;

11. the methods and intervals of valuation of the assets of the fund;

12. the rights and obligations of the social insurance company, of the insured person and of the social insurance contributors.

Rules of Supplementary Voluntary Unemployment or Vocational-Training Insurance Fund, How Amended and Supplemented

Article 280. (1) Any clauses amending and supplementing the Rules under Article 279 (2) herein shall be approved by the Deputy Chairperson of the Commission. The Deputy Chairperson shall pronounce within one month after receipt of the application. The applicant shall be notified in writing within seven days of the decision made.

(2) The unemployment and/or vocational-training insurance company shall notify the insured persons of the specific clauses amending and supplementing the Rules of Organization and Operation of the fund in person or by means of an insertion in two national daily newspapers within seven days after receipt of the decision of the Deputy Chairperson of the Commission.