RA 11840 Section 16

Section 16

SECTION 16. Section 28 of the same Act is hereby deleted and replaced as follows: "SEC. 28. Exemption from the Bulk Sales Law. — Bank liquidation involving the purchase of all assets and assumption of all liabilities of a bank to a third party shall be exempt from the provisions of Act No. 3952, otherwise known as 'The Bulk Sales Law.'"

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Other provisions in RA 11840

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 11840 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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