SEC. 2. All outstanding loans recorded in the books of the postal savings bank on the date this Act becomes effective may, in the discretion of the board and on written application of the debtors made within one year from said date, be renewed for a period not to exceed ten years, but loans so renewed shall be liquidated on a monthly, quarterly, semiannually or annual amortization plan.
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. 3948 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).
