Corporate Powers and Duties.
Section 4
SEC. 4. Corporate Powers and Duties. – The Veterans Bank shall have the power: (a) To promulgate its bylaws; (b) To adopt and use a seal; (c) To sue and be sued; (d) To carry on a trust business subject to compliance with pertinent provisions of laws and in accordance with the applicable Bangko Sentral ng Pilipinas (BSP) rules and regulations; (e) To grant loans and advances in accordance with Republic Act No, 8791, otherwise known as “The General Banking Law of 2000”, and the BSP rules and regulations, with preference given to veterans defined in Section 6(a) hereof; (f) To invest in stocks and other investment instruments in accordance with Republic Act No, 8791 and the BSP rules and regulations; (g) To issue bonds and other certificates of indebtedness in accordance with Republic Act No. 8791 and the BSP rules and regulations; (h) To contract any obligation, or enter into any agreement essential to the proper management of its corporate powers and carry out its aims and purposes; (i) To appoint and dismiss its officers and employees; (j) To create and/or make equity investments to subsidiaries and affiliates or privately owned financial institutions, subject to such limitations prescribed by Republic Act No. 8791 and the BSP rules and regulations; (k) To exercise the powers granted in this Act and such incidental powers as may be necessary to carry on and engage in the business of general banking; and (l) To exercise the general powers mentioned in Republic Act No. 11232, otherwise known as the “Revised Corporation Code of the Philippines” and Republic Act No. 8791, insofar as they are not inconsistent or incompatible with the provisions of this Act.