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Act No. 1459 Section 134

Section 134

SEC. 134. After filing its articles of incorporation and the issuance to it of the certificate of incorporation by the Chief of the Division of Archives, Patents, Copyrights, and Trade-Marks of the Executive Bureau, any trust corporation, in addition to the powers conferred by general corporation laws, shall have power— To act as trustee on any mortgage or bond issued by any municipality, body politic, or corporation, and to accept and execute any other municipal or corporate trust not inconsistent with law; To act under the order or appointment of any court of record as guardian, receiver, trustee, or depositary of the estate of any minor, insane person, idiot, habitual drunkard, or other incompetent or irresponsible person, and as receiver and depositary of any moneys paid into court by parties to any legal proceedings and of properly of any kind which may be brought under the jurisdiction of the court by proper legal proceedings; To act as the executor of any last will or testament when it is named in the last will and testament as the executor thereof; To act under appointment of a court of competent jurisdiction as administrator of the estate of any deceased person, with the will annexed, or as administrator of the estate of any deceased person when there is no will and when in either case there is no person qualified, competent, willing, able, and entitled to accept such administration; To accept and execute any legal trust confided to it by any court of record or by any person or corporation for the holding, management, and administration of any estate, real or personal, and the rents, issues, and profits thereof; To accept deposits of money or other personal property and to allow to the depositors of money such interest thereon as may be provided by-laws.

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 134 (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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