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CA 399 Section 1

Section 1

Section 1. Section two of Act Numbered Twenty-six Hundred and fifty-five, commonly known as the Usury Law, as amended by Act Numbered Forty hundred and seventy, is further amended to read as follows: "SEC. 2. No person or corporation shall directly or inmortgage loans; directly take or receive in money or other property, real or personal, or choses in action, a higher rate of interest or greater sum or value, including commissions, premiums, fines and penalties, for the loan or renewal thereof or for bearance of money, goods, or credits, where such loan or renewal or forbearance is secured in whole or in part by a mortgage upon real estate the title to which is duly registered, or by any document conveying such real estate or an interest therein, than twelve per centum per annum."

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Other provisions in CA 399

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 399 Section 1 (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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