Supreme Court E-Library
Information At Your Fingertips


  View printer friendly version

(NAR) VOL. 19 NO. 2 / APRIL - JUNE 2008

[ GSIS RESOLUTION NO. 48, March 05, 2008 ]

IMPLEMENTATION OF A CONDONATION PROGRAM ON OUTSTANDING SERVICE LOANS



RESOLVED, to APPROVE the recommendations of the Senior Vice President (Corporate Services Group), for the implementation of a Condonation Program on outstanding service loans declared in default and restructuring of the remaining balance through the consolidated loan program:

1. Proposed unilateral condonation of penalties and surcharges and interest on service oriented loans declared in default as of December 31, 2007, as follows: ,
-100% condonation of penalties and surcharges

-50% waiver of interests
2 Restructuring of the remaining balance of the loan, after deducting the condoned amounts trough the Consolidated Loan Program.

RESOLVED FURTHER, to DIRECT the Senior Vice President (Corporate Services ) in coordination with the Vice President (Public Affairs Office) to conduct an information drive regarding this program.

RESOLVED, FINALLY, to DIRECT the SVP (CSG) to submit a report to the Board, after six (6) months, as to the impact of this program, including the financial implications on the Funds of the System.

Adopted; 5 March 2008 (Board Meeting No. 5)
© Supreme Court E-Library 2019
This website was designed and developed, and is maintained, by the E-Library Technical Staff in collaboration with the Management Information Systems Office.