Bill Type
Congress Name
Long Title
AN ACT PUNISHING CULPABLE INSOLVENCY FOR NATURAL AND JURIDICAL PERSONS
Date filed
March 2, 2005
Scope
Legislative History
| House Bill/Resolution NO. HB03859 |
| FULL TITLE : AN ACT PUNISHING CULPABLE INSOLVENCY FOR NATURAL AND JURIDICAL PERSONS |
| SHORT TITLE : Culpable Insolvency Act of 2005 |
| ABSTRACT : "Culpable Insolvency Act of 2005". The bill seeks to impose the death penalty on incorporators, principal shareholders, board of directors and officers of a corporation or partnership who divest his/her shares from the corporation or partnership involved in a major incident, disaster or catastrophe immediately after such incident, disaster or catastrophe or while an investigation is on-going. |
| PRINCIPAL AUTHOR/S : REYES, EDMUNDO JR. O. |
| DATE FILED : 2005-03-02 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON REVISION OF LAWS ON 2005-03-09 |
Abstract
"Culpable Insolvency Act of 2005". The bill seeks to impose the death penalty on incorporators, principal shareholders, board of directors and officers of a corporation or partnership who divest his/her shares from the corporation or partnership involved in a major incident, disaster or catastrophe immediately after such incident, disaster or catastrophe or while an investigation is on-going.'
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.