An Act Granting a Franchise to "Iloilo-Negros… Section 15
An Act Granting a Franchise to "Iloilo-Negros… Section 15
Section 15
SEC. 15. This franchise is granted with the understanding that the grantee is a corporation sixty per cent of the capital stock of which is the bona fide property of citizens of the Philippines and/or the United States, and that the interest of such citizens in its capital stock or in the capital of the company with which it may merge shall at no time be allowed to fall below such percentage, under the penalty of the cancellation of this franchise.
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
CitationAn Act Granting a Franchise to "Iloilo-Negros… Section 15 (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).
