QuestionsQuestions (EXECUTIVE ORDER NO. 377)
The President acted pursuant to the powers vested in him by Republic Act No. 422.
Executive Order No. 377 abolished the Surplus Property Liquidating Committee created under Executive Order No. 275 (dated September 30, 1949).
It was created in connection with Administrative Order No. 90 dated May 19, 1949.
They were transferred to the Board of Liquidators created under Executive Order No. 372, dated November 24, 1950.
Functions, powers, duties, records, properties, funds, and other assets and liabilities.
It includes both—functions, records, properties, funds, and other assets and liabilities.
It states that the proceeds placed to the credit of the Surplus Property Liquidating Committee under Executive Order No. 346 (September 22, 1950) shall accrue to the Board of Liquidators.
They will accrue to the Board of Liquidators for the settlement of all pending obligations of the defunct Surplus Property Commission.
The defunct Surplus Property Commission has pending obligations to be settled.
It shall take effect upon its promulgation.
It shows the signature of Teodoro Evangelista as Executive Secretary, “By the President,” indicating authentication/issuance.
Because it ensures continuity of obligations and that the transferee is legally responsible for both the resources and the burdens (including liabilities) of the defunct body.
Executive Order No. 275 (Sept. 30, 1949) for the abolished committee; Executive Order No. 372 (Nov. 24, 1950) for the Board of Liquidators; Executive Order No. 346 (Sept. 22, 1950) regarding proceeds; and Administrative Order No. 90 (May 19, 1949) as connection.
It abolishes the Surplus Property Liquidating Committee and transfers its functions and related properties/funds/liabilities to the Board of Liquidators, including the proceeds for settling pending obligations.