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CONGRESS OF THE
COMMONWEALTH OF REDMONT
A BILL TO
ALLOW GOVERNMENTAL ENTITIES TO BE RECEIVERS
The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
1. Short Title and Enactment
(1) This Act may be cited as the ‘Allowing Governmental Entities to be Receivers in Receivership Act’
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by Representative eatean.
(4) This Act has been co-sponsored by Representative Strataguy1.
(5) This Act amends the following acts:
(a) Redmont Corporate Entities Act
2. Reasons and Intent
(1) The Department of Commerce currently has to place legal entities into the receivership of individuals rather than the department itself.
(2) Thus, this opens up one additional option for the Department of Commerce to use for receivership.
PART II — Amendments
4. Amendments to Section 75
(1) A legal entity in receivership is led by a receiver, who may be a governmental entity.