PD 71 Section 18

Section 18

SEC. 18. Section twenty-seven of the same Act is hereby amended to read as follows: "SEC. 27. Any commercial bank organized under the laws of the Philippines may, with the prior approval of the Monetary Board, establish branches in the Philippines or branches and agencies outside the Philippines, and the bank shall be responsible for all business conducted in such branches to the same extent and in the same manner as though such business had all been conducted in the head office. "For the purposes of this Act, a bank and its branches shall be treated as a unit."

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Other provisions in PD 71

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 71 Section 18 (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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