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Accordingly, should the boards of insurance companies and re-insurance contribution, which amounted to losses accumulated half the paid-up capital of the company or more to take all the measures contained in Article 150 of the Companies above within the prescribed time limit for that, taking into account coordination with the Saudi Arabian Monetary Agency and get a no-objection prior to adhere to what came from the provisions of the Cooperative insurance companies control law issued by Royal Decree No. (m / 32) dated 02/06/1424 H and its implementing regulations, particularly what is stated in Article III of the law that are benefiting the Saudi Arabian Monetary Agency, including It is to be made on an ongoing basis.
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