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Commonwealth Act No. 352 (CA 352) — An Act Amending Section Eighteen of Act Numbered Two Thousand Six Hundred and Twelve, Entitled, "An Act Creating the Philippine National Bank," as Amended by Acts Numbered Two Thousand Nine Hundred and Thirty-Eight and Thirty-Nine Hundred and Seventy-Nine.

Commonwealth Act No. 352 (CA 352) — An Act Amending Section Eighteen of Act Numbered Two Thousand Six Hundred and Twelve, Entitled, "An Act Creating the Philippine National Bank," as Amended by Acts Numbered Two Thousand Nine Hundred and Thirty-Eight and Thirty-Nine Hundred and Seventy-Nine.

Commonwealth Act No. 352 · Commonwealth Act · Approved August 22, 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 eighteen of Act Numbered Two thousand six hundred and twelve, entitled, "An Act creating the Philippine National Bank," as amended by Acts Numbered Two thousand nine hundred and thirty-eight and Thirty-nine hundred and seventy-nine, is further amended so as to read as follows: "SEC. 18. The orders and resolutions of the Board of Directors shall be carried out by a President who shall be chief executive of the Bank and shall be paid an annual salary to be fixed by the Board of Directors with the approval of the President of the Philippines, and one or more Vice-Presidents, who shall assist the President and shall be paid a salary to be fixed by the Board of Directors, with the approval of the President of the Philippines. In case of the absence of the President or his incapacity to act, the Board of Directors shall designate the Vice-President who shall take his place. The President shall be appointed by the Board of Directors, with the advice and consent of the President of the Philippines and may be removed in a like manner."

Section 2

SEC. 2. This Act shall take effect upon its approval. Approved, August 22, 1938.

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

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