RA 4378 Section 8

Section 8

SEC. 8. Section fourteen of said Act is hereby amended to read as follows: "SEC. 14. Qualifications for directors.—No person shall be eligible as director of an association unless he is a member, in case of nonstock associations, or an owner in his own right of stocks in the association with an aggregate par value of at least five thousand pesos, in case of stock associations: Provided, That at least two-thirds of the members of the board of directors of any stock savings and loan association which may be established after the approval of this Act shall be citizens of the Philippines."

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Other provisions in RA 4378

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 4378 Section 8 (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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