RA 11057 (Personal Property Security Act) Section 40

Matters That May be Required by Demand.

Section 40

SEC. 40. Matters That May be Required by Demand. - Upon receipt of the demand submitted under Section 39, the secured creditor must register, within fifteen (15) working days, an amendment or termination notice; (a) Terminating the registration in subsections (a), (d) or (e) of Section 39; (b) Amending the registration to release some property that is no longer collateral in a case within subsection (c) of Section 39 or that was never collateral under a security agreement between the secured creditor and the grantor in a case within subsection (c) of Section 39.

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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

CitationRA 11057 (Personal Property Security Act) Section 40 (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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