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RA 10142 Section 47

Management.

Section 47

SEC. 47. Management. — Unless otherwise provided herein, the management of the juridical debtor shall remain with the existing management subject to the applicable law/s and agreement/s, if any, on the election or appointment of directors, managers Or managing partner. However, all disbursements, payments or sale, disposal, assignment, transfer or encumbrance of property, or any other act affecting title or interest in property, shall be subject to the approval of the rehabilitation receiver and/or the court, as provided in the following subchapter. (F) Use, Preservation and Disposal of Assets and Treatment of Assets and Claims after Commencement Date.

Read the full instrument → · Open the chapter this section belongs to: CHAPTER II →

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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