SEC. 11. This franchise is subject to amendment, alteration or repeal by the Congress of the United States of America or by the Philippine Legislature. The grantee is forbidden to declare stock or bond dividends or to issue stocks or bonds, except in exchange for actual cash or for property at a fair valuation equal to the par value of the stocks or bonds so issued.
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. 3180 Section 11 (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).
