ChanRobles Virtual law Library
PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
Search for
www.chanrobles.com
Republic Acts :
REPUBLIC ACTS
PLEASE CLICK HERE FOR THE LATEST ➔ PHILIPPINE LAWS, STATUTES & CODES
REPUBLIC ACT NO. 1403 - AN ACT TO
AMEND SECTION THIRTEEN OF REPUBLIC ACT NUMBERED SEVEN HUNDRED AND
TWENTY, ENTITLED "AN ACT PROVIDING FOR THE CREATION, ORGANIZATION AND
OPERATION OF RURAL BANKS, AND FOR OTHER PURPOSES" |
Section 1.
Section thirteen of Republic Act Numbered Seven hundred and twenty is
hereby amended by adding a new paragraph thereof, to read as
follows: "In normal times, the Central
Bank may rediscount against paper evidencing a loan granted by a rural
bank to any of its customers which can be liquefied within a period of
two hundred and seventy days." Sec. 2. This Act shall take effect upon its approval.cralaw Approved: September 9, 1955 |