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Act No. 3174 Section 2

Act No. 3174 Section 2

Section 2

SEC. 2. The National Bank is hereby authorized and directed, subject to the supervision of the Insular Treasurer and Insular Auditor, to eliminate its losses from its assets, together with the fixed deposits of the Government of the Philippine Islands in the Bank at the time of the approval of this Act, excluding from said fixed deposits a sufficient sum to purchase all stock of the Bank then held by the public; and the sum necessary for this purpose is hereby appropriated out of the general funds of the Government of the Philippine Islands not otherwise appropriated and on fixed deposit in the National Bank: Provided, however, That the National Bank shall pay to the Government of the Philippine Islands during the year nineteen hundred and twenty-five the sum of one million five hundred thousand pesos as interest received for the fixed deposits herein-before appropriated.

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Other provisions in Act No. 3174

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. 3174 Section 2 (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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