Section 2
SECTION 2. Section 8 of Republic Act No. 35-18, as amended by Section 3 of Presidential Decree No. 236, is hereby further amended to read as follows: "SEC. 8. President and Vice Presidents — Appointments and removal — Salaries.—The Chief Executive of the Bank shall be the President who shall be chosen by the Board of Directors, in addition to this powers, functions duties and responsibilities at Chief Executive of the Bank, the President of the Veterans Bank shall be concurrently the Vice-Chairman of its Board of Directors. He shall be assisted by an Executive Vice-President and such other Vice-Presidents who shall be elected and may be removed only for cause by the Board of Directors. The President and the Executive Vice-President shall possess practical experience in banking or finance as executives for at least five years. The salaries of the President, Executive Vice-President and such other Vice-Presidents shall be fixed by the Board of Directors."