RA 12010 Section 9

Liability for Failure to Temporarily Hold Funds.

Section 9

SEC. 9. Liability for Failure to Temporarily Hold Funds. - An Institution that fails to temporarily hold funds subject of a disputed transaction, as required under this Act and relevant BSP rules and regulations, shall be liable for loss or damage arising from such failure, including the restitution of the disputed funds to the Account Owner.

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Other provisions in RA 12010

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 12010 Section 9 (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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