WHAT ARE THE INSTANCES WHEN A LOCAL RECRUITMENT AGENCY MAY BE EXEMPTED FROM SOLIDARY LIABILITY?

As a general rule, the recruitment agency is solidarily liable with the foreign principal for unpaid salaries of a worker it recruited.
The imposition of joint and solidary liability is in line with the policy of the State to protect and alleviate the plight of the working class.
This exception is where the workers themselves insisted for the recruitment agency to send them back to their foreign employer despite their knowledge of its inability to pay their wages.

WHAT IS THE PHILIPPINE DEPOSIT INSURANCE CORPORATION AND WHAT ARE ITS FUNCTIONS?

The Philippine Deposit Insurance Corporation (PDIC) is a government instrumentality created by virtue of Republic Act No. 3591.
The PDIC aims to protect depositors by providing a deposit insurance coverage for the depositing public and help promote financial stability among depositors.
The PDIC shall control, manage and administer the affairs of closed banks.
The PDIC is the statutory receiver and liquidator of closed banks.

Pre-emptive right is the right of shareholders to subscribe to all issue or disposition of shares of any class in proportion to their shareholdings.
The corporation can deny pre-emptive right if the articles of incorporation or amendment thereto deny such right.
As a preferential right, a stockholder has the option to waive such right.

Sovereignty resides in the people and all government authority emanates from them.

The importance of the people’s choice must be the paramount consideration in every election, for the Constitution has vested in them the right to freely select, by secret-ballot in clean elections, the men and women who shall make laws for them or govern in their name and behalf.