RA 265 Section 62

Issue of deposit money.

Section 62

SEC. 62. Issue of deposit money.—Only banks duly authorized so to do may accept funds or create liabilities payable in pesos upon demand by the presentation of checks, and such operations shall be subject to the control of the Monetary Board in accordance with the powers granted it with respect thereto under this Act.

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Other provisions in CHAPTER II.—THE CENTRAL BANK AND THE MEANS OF PAYMENT

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 2026-07-04

CitationRA 265 Section 62 (LawPlayer, data as of 2026-07-04)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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