Act No. 2986 Section 12

Section 12

SEC. 12. The grantees of this franchise are forbidden to issue stock or bonds under this franchise except in exchage for actual cash or for property at a fair valuation equal to the par value of the stock or bonds issued and upon prior authority of the Public Utility Commission.

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Other provisions in Act No. 2986

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. 2986 Section 12 (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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