SECTION 334 — Company Manager

Individuals who are managers of corporate bodies subject to collective proceedings and the permanent representatives of managing corporate bodies who, in that capacity and in bad faith: a) use or spend money belonging to the corporate body by carrying out mere chance operations or fictitious operations ; b) with intent to delay the establishment of cessation of payments by the corporate body make purchases with the view to reselling them at lower prices or, with the same intent, use ruinous means to obtain funds ; c) after cessation of payments by the corporate body, pay or permit a creditor to be paid to the detriment of the general body of creditors ; d) cause the corporate body to make for others, without receiving securities in exchange, commitments deemed too heavy in relation to its situation when the commitments were made ; e) keep, cause or allow the keeping of improper or incomplete accounts of the corporate body under the conditions laid down in Section 332 above ; f) fail to declare the situation of cessation of payments of the corporate body at the Registry of the competent court within a period of thirty days ; 126 g) with a view to hiding all or part of their estate from proceedings against the corporate body in a situation of cessation of payments or those against partners or members or creditors of the corporate body, embezzle or conceal, attempt to embezzle or conceal a part of their property or who fraudulently acknowledge debts that they do not owe - shall be punished with imprisonment for from 1 (one) month to 2 (two) years.