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Share Name | Share Symbol | Market | Type |
---|---|---|---|
China United Insurance Service Inc (CE) | USOTC:CUII | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0001 | 0.00 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 22, 2014
CHINA UNITED INSURANCE SERVICE, INC.
(Exact name of registrant as specified in its charter)
000-54884
(Commission File Number)
Delaware | 98-6088870 |
(State or other jurisdiction of incorporation) |
(I.R.S. Employer Identification No.) |
7F, No. 311 Section 3
Nan-King East Road
Tapei City, Tawain
(Address of principal executive offices,
with zip code)
+8862-87126958
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d 2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. | Entry into a Material Definitive Agreement |
On September 15, 2014, Law Enterprise Co., Ltd. (“Law Enterprise”) and Action Holdings Financial Limited Taiwan Branch (“AHFL”) entered into a short-term loan agreement, pursuant to which, Law Enterprise will provide AHFL a short loan in the amount of $330,502 (NTD10 million). The term of the loan is from September 15, 2014 to December 31, 2014, with a fixed interest rate at 1.5%. The principal amount of the loan together with the accrued interest shall be paid in one lump sum on December 31, 2014.
AHFL is a wholly owned subsidiary of China United Insurance Service, Inc. and holds 65.95% of the issued and outstanding shares of Law Enterprise.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
10.1 | Translation of Loan Agreement between Law Enterprise and AHFL, dated September 15, 2014. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CHINA UNITED INSURANCE SERVICE, INC. | ||
Date: September 22, 2014 | ||
By: | /s/ Mao Yi Hsiao | |
Name: | Mao Yi Hsiao | |
Title: | Chief Executive Officer |
Exhibit Index
10.1 | Translation of Loan Agreement between Law Enterprise and AHFL, dated September 15, 2014. |
Exhibit 10.1
Loan Agreement
The Loan Agreement (the "Agreement") is entered into as of September 15, 2014 between the following two parties:
(1) Law Enterprise Co. Ltd., Ltd. (the "Lender"), a corporation duly organized and existing under the laws of Taiwan
(2) Action Holdings Financial Limited (Taiwan Branch), a corporation duly organized and existing under the laws of British Virgin Islands, having its principal office at TrustNet Chamber, P.O. Box 3444, Road Town, Tortola, British Virgin Islands. (the "Borrower")
The Lender and the Borrower will each be referred to as a "Party" and collectively referred to as the "Parties."
WHEREAS, the Borrower wishes to borrow a short-term loan from the Lender for its short-term payments and the Lender agrees to provide such loan to the Borrower for such specified purpose.
NOW THEREFORE, the Parties agree as follows:
1. | The Lender agrees to provide the loan at amount NTD 10,000,000 (the “Loan”) to the Borrower and agrees to advance such Loan amount to the account designated by the Borrower (No. 015540322880 at Chinatrust Bank) upon the effective date of this Agreement. |
2. | Term for the Loan shall be from September 15, 2014 to September 31, 2014 (the “Term”) with a fixed interest rate at 1.5%. The principal amount of the Loan together with the accrued interest shall be paid in one lump sum on December 31, 2014. |
IN WITNESS WHEREOF, the Parties have duly executed this Agreement, or have caused this Agreement to be duly executed on their behalf, as of the date first hereinabove set forth.
The Lender: Law Enterprise Co. Ltd., Ltd.
The Borrower: Action Holdings Financial Limited (Taiwan Branch)
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