Disbursement and Investment of Funds; Collections and Income or Earnings from Such Collections.
Section 4
SEC. 4. Disbursement and Investment of Funds; Collections and Income or Earnings from Such Collections. — Of the total yearly collection of all funds of the Commission, not more than seven per centum shall be disbursed for the payment of salaries and wages and purchases of office equipment and materials and operational expenses of the Commission for any year. The remaining ninety three per centum shall be invested by the Commission in any or all of the following ways only: In interest-bearing bonds or securities of the Government of the Philippines, or bonds or securities for payment of the interest and principal to which the faith and credit of the Republic of the Philippines is pledged. In interest-bearing deposits in any domestic bank doing business in the Philippines having an unimpaired paid-up capital and surplus equivalent to one million five hundred thousand pesos or over. In investments which will provide credit facilities for small short-term loans to veterans and their dependents. In other projects and investments which, in the determination, of the Commission, shall redound to the benefit of veterans and their dependents. The total income or earnings from investments of such fund collections shall finance services provided herein for veterans and their dependents.