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CA 459 Section 14

Section 14

SEC. 14. The real estate securities against which the real estate bonds are issued as provided herein shall be deposited with the Treasurer of the Philippines, and each of said bonds when issued shall bear on its face a certi­ficate of the Treasurer of the Philippines in words and fi­gures as follows: "I certify that there are on deposit in the Treasury of the Philippines first mortgage real estate securities in the sum of one hundred eleven and one-ninth per centun covering farm land of an appraised value of one hundred eighty-five and five-twenty-sevenths per centum of the face value of this bond; which said real estate securities, or other first mortgage real estate farm securities equal value, or the proceeds thereof are to be held by me as security, additional to the promise of the Agricultural and Industrial Bank of the Philippines for the prompt payment of this bond, principal and interest. Treasurer of the Philippines"

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

Other provisions in 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 ↗ · Data as of 2026-07-04

CitationCA 459 Section 14 (LawPlayer, data as of 2026-07-04)

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

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