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Act No. 2612 Section 32

Act No. 2612 Section 32

Section 32

SEC. 32. The board of directors created by section twenty of this Act shall have general supervision, management, and control of the affairs of said bank and shall from time to time fix the rate of interest, discount or exchange to be charged by said bank and make public announcement of the same at the head office. The board of directors may also fix different rates of interest on loans in accordance with the different classes of securities herein specified: Provided, That it shall not be lawful for said National Bank to charge interest on overdrafts. The board of directors shall make and publish semiannually a general balance of the business of said bank.

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Other provisions in Act No. 2612

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. 2612 Section 32 (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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