Section 1
SECTION 1. Section three (g) of Republic Act Numbered Three Thousand Five Hundred Ninety-One, as amended, is hereby amended to read as follows: "SEC. 3(g) The term 'insured deposit' means the net amount due to any depositor for deposits in an insured bank (after deducting offsets) less any part thereof which is in excess of forty thousand pesos (P40.000). Such net amount shall be determined according to such regulations as the Board of Directors may prescribe and in determining such amount due to any depositor, there shall be added together all deposits in the bank maintained in the same capacity and the same right for his benefit either in his own name or in the name of others.