RA 3779 Section 10

Section 10

SEC. 10. Ground for refusal to execute certificate of approval.&mdashThe Monetary Board may refuse to approve the application, if upon examination and investigation it finds that: (a) the corporation is to be formed for any business other than the legitimate savings and loan business, or (b) the association's financial program is unsound, or (c) the area where the association is to be located is adequately served by one or more existing associations.

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Other provisions in RA 3779

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 3779 Section 10 (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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