Republic Acts1 min read
Section 13Sec./Art. 13
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Investment Restrictions of Directors and Officers. No director or officer of any pre-need company shall, after his election or appointment as such, directly or indirectly, for himself or as the representatives or agent of others, have an investment in excess of Five million pesos (P5, 000,000.00) in any corporation or business undertaking in which the pre-need companys trust fund has an investment in or has a financial interest with.
No relatives of directors or officers of the pre-need company within the fourth degree of consanguinity or affinity shall, directly or indirectly, have an investment of more than Five million pesos (P5, 000,000.00) in any corporation or business undertaking in which the pre-need companys trust fund has an investment in or has a financial interest with during the incumbency or term of the director or officer involved.
CHAPTER IV
REGISTRATION OF PRE-NEED PLANS
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