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Public officials are responsible for unpaid guaranteed loans

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Public officials are responsible for unpaid guaranteed loans


        

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  • 2024-06-15 18:00:03

    The guaranteed loan can not be repaid, which is at most a civil case. Public officials bear the joint and several liability for guarantee. However, they are generally not dismissed from government offices. In the regulations on the handling of civil servants, only public officials who are suspected of serious criminal offences or criminal cases will be dismissed.

    According to Article 17 of the Regulations on the Punishment of Civil Servants in Administrative Organs, if a civil servant of an administrative organ who violates laws and disciplines has been sentenced to criminal punishment, removed, removed from his post or resigned from his leadership position according to law before the administrative organ makes a decision on punishment, and should be given punishment according to law, the administrative organ shall give punishment according to the fact that he violates laws and disciplines. If a civil servant of an administrative organ is sentenced to criminal punishment according to law, he shall be dismissed.

    Legal basis

    Article 6 of the Guarantee Law The term "guarantee" as used in this Law refers to an agreement between the guarantor and the creditor that when the debtor defaults, the guarantor shall perform the debt or bear the liability in accordance with the agreement.

    Article 12 of the Guarantee Law Where there are more than two guarantors for the same debt, the guarantors shall bear the guarantee liability according to the guarantee share agreed in the guarantee contract. If there is no agreement on the guarantee share, the guarantor shall bear joint and several liability. The creditor may require any guarantor to bear all the guarantee liability, and the guarantor shall have the obligation to guarantee the realization of all the creditor's rights. The surety who has undertaken the suretyship liability shall have the right to recover from the debtor or require other sureties who bear joint and several liability to pay off their share.

    A***

    2024-06-15 18:00:03

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