Section 118
SEC. 118. Banking corporations, other than savings and mortgage banks, shall not be permitted to file their articles of incorporation with the Chief of the Division of Archives, Patents, Copyrights, and Trade-Marks of the Executive Bureau, or to receive his certificate of incorporation unless such articles show, under oath of the incorporators, that the capital stock of such corporation is not less than two hundred thousand pesos, that fifty per centum of the whole stock has been actually subscribed; and that fifty per centum of the subscription has been actually paid into the treasury of the corporation.