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RA 11057 (Personal Property Security Act) Section 40

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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Other provisions in CHAPTER 5

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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