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CA 459 Section 8

Section 8

SEC. 8. The Agricultural and Industrial Bank is also authorized to grant loans for the promotion of industry upon the security of a mortgage of, or deed of trust on, the assets of an industrial establishment, and in no case shall such loans exceed sixty per centum of the market value of the securities, which securities shall include all improvements and other assets acquired with the pro­ceeds of such loans. The maturity dates of said industrial loans and mortgages or deeds of trust shall not be less than one year from the date thereof. The mortgages or deeds of trust may be made payable at one time or in install­ments.

Read the full instrument → · Open the chapter this section belongs to: CHAPTER I. Establishment and Functions, Name, Domicile, and Duration →

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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