Act No. 2508 Section 10

Section 10

SECTION. 10. A member applying for a loan shall prove to the to satisfaction of the board of directors that at the time of contracting the loan he has paid up the par value of at least one share of stock and that he is not indebted to the association or to his bondsmen or sureties for said loan.

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Other provisions in Act No. 2508

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. 2508 Section 10 (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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