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What is Bouncing Checks Law: Offenses & Liabilities about?

Batas Pambansa Blg. 22, known as the Bouncing Checks Law, penalizes the issuance of checks without sufficient funds to protect public interest and maintain trust in the banking system. The law outlines two offenses: knowingly issuing a check without sufficient funds and failing to maintain sufficient funds for a check presented within 90 days. Violators may face imprisonment or fines, and the law distinguishes between this offense and estafa, allowing for simultaneous prosecution under both laws.

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crissalynmaearinoschool21

Language

EN