SEC. 38. The National Bank shall not directly or indirectly grant loans to any of the members of the board of directors of the bank nor to agents of the branch banks. Said National Bank is hereby prohibited from making any loan directly or indirectly in excess of one thousand pesos to any member of the Philippine Legislature or to any official or employee of the Insular, provincial, or municipal governments except upon satisfactory real estate security.
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 38 (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).
