資料由法律人 LawPlayer整理提供·Philippine law / curated by LawPlayer from the Supreme Court E-Library
SECTION 1. Section ten of Act Numbered Forty-two hundred seventy-one, as amended, is further amended to read as follows:
"SEC. 10. The grantee shall not issue stock or bonds except in exchange for actual cash or for property at least equal in value to the par value of the stock or bonds so issued: Provided, however, That it may issue stock or bond dividends upon compliance with the requirements of the Corporation Law."
SEC. 2. This Act shall take effect upon its approval.
Approved, June 18, 1960.
AN ACT TO AMEND SECTION TEN OF ACT NUMBERED FORTY-TWO HUNDRED SEVENTY-ONE, AS AMENDED. (Official Gazette). Retrieved via LawPlayer, https://lawplayer.com/ph/act/ra-2667
Source: Official Gazette of the Republic of the Philippines — Philippine laws are public documents (works of the government).
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