Article 5. Associated membership

Companies that satsify the membership criteria set out in Article 4 may apply for an associated membership subject to payment of an associated membership fee as per Article 10. Associated membership may only be granted if the company's aggregate premium volume for marine insurance does not exceed an amount determined by the General Meeting in the previous financial year or in the fourth quarter of the year in which the company applies for membership.

Associated membership implies all duties and rights on the member as described in these Statutes, but does not entitle the member to vote at the General Meeting. A member with an associated membership is not eligible to take part in the Nordic Marine Insurance Statistics (NoMIS) and representatives of that member may not participate in the Statistics Forum.

Associated membership is limited to a period of two years.

If the conditions for associated membership are no longer fulfilled, or after a periode of two years (whichever occurs first), the Board of Directors shall offer the member membership on ordinary conditions if the member fulfils these requirements. If the member does not accept this offer or fulfils the requirements, the associated membership shall be terminated with immediate effect.