Republic Act No. 1403 (RA 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."
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 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. Approved, September 9, 1955.
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).