Section 44
SEC. 44. The General Manager of the Bank shall, among others, have the following powers and duties: (a) To grant long term loans for agricultural or industrial purposes for periods of time not to exceed five years and in sums not exceeding fifty thousand pesos to any one person, company, corporation, or firm, but he is required to submit a report on each loan to the Board of Directors at its next succeeding session; (b) To make, with the advice and consent of the Board of Directors, all contracts on behalf of the said Agricultural and Industrial Bank and to incur all necessary obligations by this Act required or permitted; (c) To report weekly to the Board of Directors the main facts concerning the operations of the Agricultural and Industrial Bank during the preceding week and to suggest changes in rates of interest or of policy which may to him seem best; (d) To furnish, upon request of the President of the Philippines, or the Secretary of Finance, any information in his possession regarding the operations of said Agricultural and Industrial Bank. AUDITOR