Bill Type
Congress Name
Long Title
AN ACT PUNISHING CULPABLE INSOLVENCY AND JURIDICAL PERSONS
Date filed
August 28, 2007
Scope
Legislative History
| House Bill/Resolution NO. HB02272 |
| FULL TITLE : AN ACT PUNISHING CULPABLE INSOLVENCY AND JURIDICAL PERSONS |
| ABSTRACT : The bill imposes the penalty of life imprisonment on incorporators, principal shareholders, board of directors and officers of a corporation or partnership who divest his/her shares immediately after a major accident, disaster or catastrophe and while an investigation is on-going. |
| PRINCIPAL AUTHOR/S : REYES, CARMENCITA O. |
| DATE FILED : 2007-08-28 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON JUSTICE ON 2007-09-05 |
Abstract
The bill imposes the penalty of life imprisonment on incorporators, principal shareholders, board of directors and officers of a corporation or partnership who divest his/her shares immediately after a major accident, disaster or catastrophe and while an investigation is on-going.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.