Will the bid be protected by law?

Legal analysis: the bidding meeting is not protected by law, and the behavior of organizing and participating in private bidding meetings is not protected by law. The court refused to support the private lending disputes caused by the bidding meeting. Even if the public security organ files a case for investigation and investigates the criminal responsibility of the person in charge of the meeting, due to the break of the capital chain and personal profligacy, the assets of the person in charge of the meeting are few and it is difficult to execute after the judgment. Non-governmental mutual funds association, commonly known as the standard meeting, is a form of micro-credit loans. As a common folk credit financing activity, it has the dual functions of earning interest and raising funds, which is mainly based on trust and has no corresponding legal guarantee.

Legal basis: Article 176 of the Criminal Law of People's Republic of China (PRC), whoever illegally absorbs public deposits or absorbs public deposits in disguised form, thus disrupting the financial order, shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention and shall also or only be fined; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years and shall also be fined; If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years and fined. If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the persons who are directly in charge and other persons who are directly responsible shall be punished in accordance with the provisions of the preceding paragraph. Whoever commits the acts mentioned in the preceding two paragraphs and actively returns stolen goods or compensation before initiating public prosecution to reduce the occurrence of damage results may be given a lighter or mitigated punishment.