Archive:Financial Code

**THE UNIVERSAL TRIUMVIRATE FINANCIAL CODE**
**1.21.12 | 4.3.14**
Stavrok, Head of Finance, Freshman Executive
Major Executive and Chief Attorney Arnold Ogamon

**A Law** to provide for the economic system of the Triumvirate and to secure the economic independence of the Triumvirate.

**Introduction**

In order for the Universal Triumvirate to provide for its financial future, maintain a practical economic system, and encourage transaction between the members this law shall be established.
**Section 1: Current Amounts and Values**

The Triumvirate currently has ∇6,250 in circulation
**Section 2: Economy of the Triumvirate**

The economy of the Triumvirate will be based upon a free market system with limited restrictions (as imposed by the government as they see fit and proper by the due process of passing law). Exchanges may only be made with Tris within the economic system and no flow of any other currency in or out of the economic system may occur.
**Section 3: Currencies**

**Section 3.1: Tris**
The Tri (pronounced the same as the word tri and represented by a nabla- ∇), the universally accepted currency of the Triumvirate, will be used for all Triumvirate exchanges. No Triumvirate member may refuse to accept the Tri as an official currency and it shall be valid for all public and private debts within the Triumvirate. Tris may only be measured for transactions in whole single Tris, no fraction of a Tri may be valid for transactions.
**Section 4: Trade and Transaction**

If any person or institution holding Triumvirate Tri wishes to make a transaction with any group or individual including the Triumvirate government they shall do so with a transaction check. A transaction check must contain information such as the contributing party, receiving party, amount being given, the before and after of both groups/individuals monetary possession, and what the money being given is for. Only the group or individual giving money to another may state as such (no receiver or neutral party may create a transaction check to show they are receiving money). If a person is making a transaction to a confidential person within the Triumvirate, they shall use the TID number to designate who the money is to be given to. Transactions may only be made between parties when both possess at least one of these (government excluded): a current Triumvirate citizenship (TID number), an IOF account, a TFF account, or a TFIF account.
**Section 4.1: Transaction Check Records**
All records of all transactions within the Triumvirate must be publically documented on the areas provided otherwise they shall not be recognized as official and not legal for any proof in court or to prove any ownership. The Major Executive, any person under temporary decree by the Executive Branch, Head of Intelligence, Deputy Head of Intelligence, Head of Commerce and Industry, Deputy Head of Commerce and Industry, or the Head of the Treasury, shall be the only individuals allowed to fix legitimate errors on the transaction page and search for inconsistencies and violations of this policy.
**Section 5: Coining of Tris**

The Executive Branch may choose to coin more Tris by Executive Decision and if they do decide to do so they must indicate clearly the total number of Tris in circulation via Section 1 of this law. No amount of Tris may ever be removed from circulation.
**Section 6: Ownership of Finances**

A current Triumvirate citizen may hold finances through their TID number.
**Section 6.1: Institutional Ownership of Finances**
If a private group of people who are all Triumvirate citizens, wish to form an institution within the Triumvirate such as a business, organization, party, association, or commune, they must register that institution under the Triumvirate Department of Commerce who will keep a public listing of all such institutions. An IOF (Institutional Ownership of Finances) account number will be created (the first one starting at 0) and will be kept by that institution for all financial documentation and records. In order for an IOF to be approved the group wishing to get an IOF must submit an application to do so to the Triumvirate Department of Commerce by the means provided and then the Head of Commerce and Industry or the Executive Branch must approve it. The institution shall be treated as an individual and must use the transaction checks to transfer Tris between any parties including if the institution wishes to transfer finances to any person working under or owning the institution.
A person may only own or be professionally affiliated with a maximum of three IOFs.
**Section 6.2: Foreign Ownership of Finances**
If a foreign individual has a legitimate reason for participating in the Triumvirate economic system, they must make a special application to both the Triumvirate Department of Commerce and the Triumvirate Department of State. Only once both departments (or the Executive Branch) approve that this foreign individual may partake in the Triumvirate economic system, shall that foreign individual be granted a TFF (Triumvirate Foreign Finances) number which shall have the same rules as to management of finances as a person with a Triumvirate citizenship does.
**Section 6.2.1: Foreign Institutional Ownership of Finances**
If a foreign individual with a registered and active TFF has a legitimate reason for forming an IOF in the Triumvirate economic system, they must make a special application to the Department of Commerce and the Department of State. Only once both departments (or the Executive Branch) approve that this foreign institution may partake in the Triumvirate economic system, shall that foreign institution be granted a TFIF (Triumvirate Foreign Institutional Finances) number which shall have the same rules as to management of finances as an Institutional Ownership of Finances account. A TFIF account cannot participate in the TTI and is subject to all Triumvirate financial regulations imposed.
**Section 6.2.1.1: TFIF Cost Provision**
Once there are five active IOF accounts with legitimate business interest, a person shall have to pay ∇5 to set up a new TFIF once it is approved by the Department of Commerce and Department of State.
**Section 6.2.2: Foreign Government Ownership of Finances**
If a foreign government has a legitimate reason for participating in the Triumvirate economic system, it must be noted in a treaty with that foreign government that they will be recognized as an institution not under the Triumvirate and as such will be granted an TFIF (Triumvirate Foreign Institutional Finances) account (the Executive Branch must approve this directly as it is a treaty). That foreign government must keep the Tri they possess under the TFIF unless they make a transfer with another person or institution that may hold Tri. Management of finances under a TFIF account shall have the same rules as the management of finances under an IOF account. It should be specially indicated in the area where all accounts are kept that a foreign government possesses this TFIF.
**Section 6.3: Disbanding of Individual, Institutional, or Foreign Ownership of Finances**
If any of the following occur all finances held by the subject of the occurrence shall be transferred to the government:
A) If an individual renounces their citizenship in the Triumvirate without applying for a TFF account first.
B) If an institution collapses or disbands (their IOF shall be removed from them).
C) If a foreign individual possessing a TFF has not been present or documents within 6 months (their TFF shall be removed from them).
D) If a foreign institution collapses, disbands, or announces it is withdrawing from the Triumvirate (their TFIF shall be removed from them).
E) If a foreign government possessing a TFIF collapses (their TFIF shall be removed from them).
**Section 7: Government Finances**

The Executive Branch shall, under the Department of the Treasury, keep a vault of the Triumvirate which shall store the Tris possessed by the government. No Tris may ever, at any point, be withdrawn from this vault for spending without the consent of the Executive Branch. All spending by and for the government must be documented publicly and on a separate form from the general populace transaction documentation. However, all spending by and for the government must also be documented on the general populace transaction records or it shall not be regarded as official The government shall use transaction checks and the name of the check issuer should be written “The Universal Triumvirate”. All rules for spending and recording apply to the Triumvirate government spending as well.
**Section 7.1: Government Budget Granting**
When the government grants a budget to underlying departments or other government institutions, the Executive Branch must vote to approve that as well as the check should be sent from "The Universal Triumvirate" to whatever government institution the budget is being granted to (such as the "Department of State", "Department of Intelligence", "Office of the Major Executive"). These institutions do not have to report their spending on the government page but they must use the transaction page as is standard with all transactions.
**Section 7.1.2: Government Shutdown**
Should the government not be able to afford to pay out the entire budget of the government when appropriate, a government shutdown shall be initiated in which non-essential services shall be cancelled until funding is acquired for all those who shall receive funding or temporary agreement is reached via continuing resolution (an agreement by the Executive and Administrative Branch to offset budget payments at the onset of a trimester due to otherwise action).
In the event of a shutdown, the government shall only maintain essential services and all non-essential government services shall be cancelled and not permitted. No part of the budget shall be sent out, regardless of if there is adequate funding available for some entities to receive the appropriate amount of funds.
The following shall be considered essential services of the government: Executives, Administrative Branch, Department of Intelligence, Joint Command Council, the Chief of Staff. Thus, the voting and passing of bills, defense and security operations, collection of taxes, work done solely by Executives, and elections shall all remain viable during a shutdown.
The following shall be considered non-essential services of the government: All government institution spending (excluding the Department of Treasury as authorized by the government or in payment of prior debts; including however all recruitment incentives, grants of loans, artistic funding, etc.); courts, and all ongoing court cases shall be postponed with no other effect until the shutdown has ended; work by any government employee (excluding Executives, Administrators, the Chief of Staff, the Joint Command Council, and TDI); certification services (all ongoing certifications shall be put on hold); naturalization and immigration services; editing of résumés; additions and management of the government archive; government agencies (unless otherwise noted); the editing of government areas of public sites except for legislative, elective, or emergency reasons; government publications; government advertising for public jobs (excluding essential offices); and anything else not considered essential.
Shutdown shall continue until an agreement is made via approval by the Executive and Administrative Branch to fund government institutions as necessary (even at reduced levels or by continuing resolution giving them temporary funding until another point, by which the government shall have more time to determine how to raise funds for spending), or if the government comes up with the money to pay the budget in full
**Section 7.2: Government Institution Spending**
**Section 7.2.1: Department and Agency Funds**
Funds in use for a department, agency, or office shall be added upon by the Head of the Treasury to be used by the department, agency, or office at their discretion, be it to: pay workers, hire workers, or pay a business for services. When funding is granted the Executive Branch may assign specific rules to what the funds are to be used for.
**Section 7.2.2: Who May Spend**
The Head of the Department, Director of the Agency, or holder of the office shall be the only person or institution besides the Executive Branch that shall be able to spend funds or money possessed by that institution.
**Section 7.2.3: Government Official Funds**
No director, head, or chief office holder (in other words, a government official) may in any case give funds to themselves personally or any other person of that description. Government officials are not to ever receive financial compensation for their services unless on direct order from the Executive Branch. This does not restrict the office from receiving funds, only from the personal individuals holding the office from receiving them.
**Section 7.3: Government Holdings of Finances**
The money and finances held by the Triumvirate government shall be stored by the Executive Branch as they see fit providing that all senior executives and the acting major executive have access to it at all times. If the Executive Branch rules that a senior executive cannot have access to finances they may do so. They may not make a ruling like this on whether or not the Major Executive has access. The Executive Branch reserves all rights to decide where and how the finances are kept and must rule on any changes made to the storage or allocation of those finances.
The acting Major Executive will also have the power to, if there is a state of emergency in the Triumvirate, relocate finances owned by the government to a new secure location if there is a reasonable risk of something happening to the finances. They may do this without permission from the Executive Branch for the sake of security but they must inform all senior executives as to where the finances are now being held and how they can be accessed. If one or more of the senior executives is responsible or connected to the threat then they do not have to be informed by the acting Major Executive as to where the finances are being kept and how they can be accessed.
Should the Head of the Treasury not be a Senior Executive they shall coordinate excessively with the Major Executive and other Senior Executives in order to formally store all government held currencies securely.
**Section 8: False Information**

Should any person, including Department of Commerce members or the check writer insert false information on a transaction check or the areas designated for official financial records, it shall be considered a Class III Misdemeanor. The individuals monitoring and investigating check fraud and such inconsistencies must then remove the false check in a timely manner. No money will be subtracted or given to either party due to this false check.
**Section 9: Bankruptcy**

If a Triumvirate citizen, IOF, TFF, or TFIF possesses no Tri and has a debt to another, they are required file for bankruptcy with the Triumvirate Department of Commerce, which must present a clear and easy way to do so. In any case when a person applies for bankruptcy, this should be noted on their financial account. Three different types of bankruptcy may be applied for in this case:
**Section 9.1: Class A Bankruptcy**
If a Class A bankruptcy is filed for by an account, the account will be granted an additional two months to make all payments but must pay an additional 10% to each party money is owed. If this cannot be done, they will be granted an additional two months but 25% must be paid to each of the parties that money is owed to. If they fail to make all payments within four months, they shall be taken to criminal court by the Department of Justice and the court must, if found guilty of failing to make payments as prescribed, and the court should sentence them to a punishment roughly equal to extensive community service. The court may not fine them for a failure to pay charge. All parties to whom they owed money shall not be paid.
**Section 9.2: Class B Bankruptcy**
If a Class B bankruptcy is filed for by an account, the account will have all debts removed and will owe no money to any party. However, they will not be able to make any purchases, receive any Tris, or receive any goods that would usually be given to them due to purchases for the duration of six months. Any rights the account holds to property of any type (including intellectual) within the Triumvirate economic system shall be given to the Triumvirate government.
**Section 9.3: Class C Bankruptcy**
If a Class C bankruptcy is filed for by an account, the account owner(s) shall go to Triumvirate civil court and work out an agreement with the court as to how all debts can be paid (with at least a 5% increase in how much they owe all parties) or how they can do equivalent service in exchange for being unable to pay their debts.
**Section 10: Extraordinary Financial Disruption**

Extraordinary financial disruption caused by a group or individual shall be recognized as attempted subversion of the financial system. Extraordinary financial disruption shall be considered a Class II Felony. Such a crime shall be taken directly to a criminal court of the Triumvirate and tried. One may only be found guilty of extraordinary financial disruption if it is clear beyond a reasonable doubt that a person or group has done one of the following:
A) Attempted to massively disrupt the Triumvirate financial system by harming the very infrastructure of the system.
B) Unjustly or against law attained an amount of ∇750 or above.
C) Attempted to or was successful in acquiring unjust aide from a high Triumvirate official with direct financial power for the purpose of their own gain by abusing the financial system. Such high Triumvirate officials with direct financial power shall be primarily the Head of Commerce and Industry, Deputy Head of Commerce and Industry, Head of the Treasury, Deputy Head of the Treasury, Major Executive, Head of Intelligence, or any other person who, at the time, has abnormal power with regards in the management of the financial system.
**Section 11: Government Enacted Freeze of Finances**

The Executive Branch may vote to enact a freeze of all spending by a person, IOF, TFF, or TFIF. If the Executive Branch approves of this, they must table the matter to a civil court and the head(s) of the court must approve of the freeze. During this procedure the details as to how long the freeze must occur should be noted. The approval of a freeze on an account must be approved by a civil court and should only be approved if one of these true:
A) The account has caused extraordinary financial disruption.
B) The account is part of an ongoing investigation.
C) The account has serious criminal charges and that, in order to restrict them, their spending abilities must be cut off.
D) The account is responsible for disrupting the peace within the Triumvirate.
During a freeze, the account may not make purchases or spend any Tri, however, they may still receive transactions from others. The Department of Commerce must inform such account that a freeze is in effect, how long it is for, and explain their rights and restrictions under the freeze.
**Section 12: IOF Ownership by Political Officers**

No government official may fall subject as an employee, subordinate, or independent contractor while they are in office. Neither the Major Executive, Head of Intelligence, Chief Attorney, or the Head of Commerce and Industry may own or be professionally affiliated with an IOF while they are in office and neither shall any Judge or Justice or, effective 2014-II, the Head of the Treasury and the Minor Executive. Other government officials are permitted to own IOFs of their own. Prior to 2014-II, the Minor Executive must suspend (but not give up) ownership or affiliation with an IOF if they ever act as Major Executive. If the Minor Executive becomes Major Executive entirely they must stop such ownership or affiliation with and IOFs. IOFs owned by those government officials permitted to own IOFs may receive and make payments so long as there is not corrupt interest that would compromise the integrity of their office.
**Section 12.1: 75 Member Provision**
Upon the Triumvirate bearing 75 active members, and effective the first opening of trimester afterwords, no Executive or any other government official (including the Speaker and Deputy Speaker of the Administrative Branch, other Administrators, Agency directors, justices or judges) may have ownership or professional affiliation with an IOF.
**Section 12.2: Exception for Political IOFs**
These restrictions in ownership and affiliation exclude ownership and affiliation with political parties and coalitions.
**Section 13: Corporate Corporation Contract**

The Contract of 6.13.12 between the Universal Triumvirate and Corporate Corporation shall be held as valid law and all processes described shall alter this law in the appropriate ways.
**Section 14: Transaction System Improvements**

The Major Executive is hereby permitted to develop or improve on the current transaction system so long as it remains secure, adequate, accurate, and becomes more efficient.