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Chapter
II
Establishment and Aim |
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3. The Myanma Insurance is established under this Law as a legal
entity having perpetual succession,
capable of suing and being sued in its own
name.
4. The Myanma Insurance is established with the following aims
:-
(a) to overcome financial difficulties
by effecting mutual agreement of insurance against social and
economic losses
which the people may encounter, due to common perils;
(b) to promote the habit of savings
individually by effecting life assurance, thus contributing
to the
accumulation
of resources of the State;
(c) to win the trust and confidence
of the people in the insurance system by providing effective
insurance
safeguards
which may become necessary in view of the social and economic
developments; |
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