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CA 394 Section 2

Section 2

SEC. 2. Section two thousand and two of the Administrative Code, as amended by Commonwealth Act Numbered One hundred and ninety-eight, is further amended so as to read as follows: "SEC. 2002. Dormant accounts.—On the first day of January, nineteen hundred and thirty-nine and every two years thereafter, the Secretary of Public Works and Communications, upon the recommendation of the Director of Posts, shall declare any bank account dormant when there has been no deposit, withdrawal, or other transaction at the request of the depositor for ten years after the end of the fiscal year in which the last transaction in the account was made, or for ten years after stipulation period named in the ap­plication when the account was opened. "Immediately following the declaration by the Secretary of Public Works and Communications, as above provided, the Director of Posts shall cause to be posted in conspicuous places in every municipality and every chartered city of the Philippines, a printed list arranged in alphabetical order, of the depositors in whose names said accounts are carried in the books of the bank, and said list shall, among other things, contain: "(a) The name and last known place of residence or post office address of the depositor, and the name of his beneficiary, if one has been nominated. "(b) The amount of his deposit including accrued interest thereon. "(c) The date when the person in whose favor the deposit stands died, if known, or the date when he made his last deposit or withdrawal."

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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

CitationCA 394 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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