SEC. 121. No such bank shall at any time be indebted or in any way liable to an amount exceeding the amount of its capital stock ;it such time actually paid in and remaining undiminished by losses or otherwise, except on account of demands of the following nature:
Moneys deposited with or collected by the bank;
Hills of exchange or drafts drawn against money actually on deposit to the credit of the bank or due thereto;
Liabilities to the stockholders of the bank for dividends and reserve profits.
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026
CitationAct No. 1459 Section 121 (LawPlayer, data as of July 4, 2026)
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
