RA 11597 (Philippine Veterans Bank Act) Section 16

Prohibition Against Owning Stock in or Incurring Indebtedness to the Veterans Bank.

Section 16

SEC. 16. Prohibition Against Owning Stock in or Incurring Indebtedness to the Veterans Bank. – The Secretary of Finance, the Governor of the BSP, all other members of the Monetary Board, and the head of the Auditing Department of the Veterans Bank, except if the said Head of the Auditing Department is a veteran stockholder or heir, are hereby prohibited from owning stock in the Veterans Bank, or from becoming indebted to the Veterans Bank, directly or indirectly.

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Other provisions in RA 11597 (Philippine Veterans Bank Act)

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 11597 (Philippine Veterans Bank Act) Section 16 (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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