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Act No. 1459 Section 123

Act No. 1459 Section 123

Section 123

SEC. 123. No such bank shall loan money to any director or officer thereof, unless such loan shall previously have been approved in writing by a majority of the directors thereof and such approval shall, have been entered upon the records of the bank.

Read the full instrument → · Open the chapter this section belongs to: CHAPTER II.—Special provisions. →

Other provisions in CHAPTER II.—Special provisions.

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 123 (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).

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Act No. 1459, full textChapter navigation and full text, so you can read this section in contextPhilippines legislationPhilippine Laws by type and yearGrouped by instrument type and year of enactment, so you can find others of the same kindBrowse by type and yearCHAPTER II.—Special provisions. — read this in contextThe surrounding text of the act in order, so you can see what comes before and afterChapters and sections