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CA 459 Section 32

Section 32

SEC. 32. The Agricultural and Industrial Bank is au­thorized to the extent of ten per centum of its paid-up capital to purchase and own such real estate as may be necessary for the purpose of carrying on its business. It is also authorized to hold such real estate as it may find necessary to acquire in the collection of debts due to the said Bank or to its branches and agencies; but real estate acquired in the collection of debts shall be sold by the said Agricultural and Industrial Bank within five years after the date on which ownership of the real estate thus acquired is vested in the Agricultural and Industrial Bank. DEPOSIT RESERVE

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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