Authorized Capital Stock — Par Value.
Section 3
SEC. 3. Authorized Capital Stock — Par Value. — The authorized capital stock of the Amanah Bank shall be one hundred million pesos divided into one million par value shares of one hundred pesos each. The shares shall be divided into four classes, denominated as Series "A," Series "B," Series "C," and Series "D." a) Series "A" shall comprise thirty million pesos equivalent to three hundred thousand common shares to be subscribed by the Government of the Republic of the Philippines; b) Series "B" shall comprise twenty million pesos equivalent to two hundred thousand preferred shares which shall be subscribed by the Government of the Republic of the Philippines, its agencies or instrumentalities, such shares to be entitled to cumulative dividends of three percent (3%) per annum and with preference as against common stockholders in the distribution of assets in the event of liquidation; c) Series "C" shall comprise thirty million pesos equivalent to three hundred thousand common shares to be subscribed solely by the citizens of the Philippines and domestic corporations and entities, seventy percent (70%) of the equity of which is owned by Citizens of the Philippines. Preference in the subscription of this class of shares shall be given to residents of the provinces and cities served or to be served by the Bank; d) Series "D" shall comprise twenty million pesos equivalent to two hundred thousand common shares which shall be available for subscription of foreign nationals, their corporations and/or associations.