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PD 264 Section 17

Prohibition.

Section 17

SEC. 17. Prohibition. — No member of the Board of Directors, officer, attorney, agent or employee of the Bank shall in any manner, directly or indirectly, participate in the deliberations upon the determination of any question affecting his personal interest, or the interests of any corporation, partnership, or association in which he is directly or indirectly interested. Any person violating the provisions of this Section shall be summarily removed from office. No fee, commission, gilt or charge of any kind shall be exacted, demanded or paid to any director, employee or agent of the Bank for obtaining loans from the Bank, and any director, officer, employee or agent of the Bank exacting, demanding or receiving any fee for services in obtaining a loan shall be summarily removed from office.

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Other provisions in PD 264

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationPD 264 Section 17 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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