Section 54
SEC. 54. No loan shall be granted by the Agricultural and Industrial Bank to a corporation, partnership, or company wherein any member of its Board of Directors is a shareholder, agent or employee in any manner, except by the unanimous vote of the members of the Board, excluding the member interested. The total liabilities to the Agricultural and Industrial Bank of any corporation wherein any of the members of the Board of Directors is a shareholder, agent, or employee in any manner, shall at no time exceed five per centum of the paid-up capital of the Bank. Any director of the Agricultural and Industrial Bank who knowingly violates the provisions of this section shall immediately be removed by the President of the Philippines and he shall, furthermore, be punished as provided in the next preceding section.