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CA 458 Section 32

Section 32

SEC. 32. The Reserve Bank shall not, during the time it shall continue its banking operation, withdraw or permit to be withdrawn, either in the form of dividends or otherwise, any portion of its capital. If losses have been sustained by the Reserve Bank equal to or exceeding the undivided profits on hand, no dividend shall be declared; and no dividend shall ever be declared by the Reserve Bank to any amount greater than its.net profits on hand, deducting therefrom its losses and bad debts. All debts due to the Reserve Bank,on which interest is past due and unpaid for a period of six months, unless the same are well secured, and in process of collection, shall be considered bad debts within the meaning of this section.

Read the full instrument → · Open the chapter this section belongs to: Chapter II.--ESTABLISHMENT AND FUNCTIONS →

Other provisions in Chapter II.--ESTABLISHMENT AND FUNCTIONS

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 458 Section 32 (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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