Commonwealth Act No. 306 (CA 306) — An Act to Allow the Acceptance of Deposits of Mortgage and Savings Banks as Security Tor Loans, Amending to That Effect Section One Hundred and Five of the Corporation Law.

Commonwealth Act No. 306 · Commonwealth Act · Approved June 9, 1938 · 2 sections

Data as of July 4, 2026 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Section 1

SECTION 1. Section one hundred and five of Act Numbered Fourteen hundred and fifty-nine, as amended by act Numbered Thirty-six hundred and ten, is further amended by adding after the last paragraph thereof the following: "(7) Loans secured by deposits in said bank in amounts not exceeding ninety per centum of such deposits."

Section 2

SEC. 2. This Act shall take effect on its approval. Approved, June 9, 1938.

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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