Prohibited Transactions


ART.215

ELEMENTS:
1. That the offender is an appointive public officer;
2. That he becomes interested, directly or indirectly, in any
   transaction of exchange or speculation;
3. That the transaction takes place within the territory subject
   to his jurisdiction; and
4. That he becomes interested in the transaction during his incumbency.

Examples of transactions of exchange or speculation are buying and
selling stocks, commodities, land, etc. wherein one hopes to
take advantage of an expected rise or fall in price
for gain or profit and not merely as investment

Purchasing of stocks or shares in a company is simple investment
and not a violation of the article. However, regularly buying
securities for resale is speculation.

Appointive public officials should not devote himself to commerce


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