Section 3
SEC. 3. The said Agricultural and Industrial Bank shall be a body corporate and shall have power: (a) To grant agricultural loans; (b) To grant industrial loans; (c) To grant real estate loans; (d) To establish and operate bonded warehouses; (e) To subscribe for, underwrite, purchase or gua rantee bonds issued by agricultural or industrial concerns, or bonds secured by real estate used for commercial pur poses ; (f) To carry on the business of a trust corporation and to manage and administer the funds and properties now entrusted to the National Investment Board; (g) To issue bonds, subject to the requirements pro vided in this Act; (h) To accept savings and time deposits; (i) To make by-laws; adopt and use a corporate seal; to buy, hold, transfer, sell, let, lease, mortgage, encumber, and otherwise trade in agricultural and urban real properties and industrial bonds as its aims and the transactions of its business may reasonably and necessarily require ; to contract any obligation to enter into any agreement essential to the proper management of its corporate matters and to carry out its aims and purposes; to execute and foreclose mortgages, pledges, and other contracts; to appoint and dismiss its officers and employees, unless otherwise provided for by this Law and to fix adequate compensation for said officers and employees; to sue and be sued, to have the power of succession, and to exercise such powers as may be reasonably necessary to carry on the business for which it has been created. CAPITAL AND SHARES