RA 7653 Section 58

Definition.

Section 58

SEC. 58. Definition. — For purposes of this Act, the term "demand deposits" means all those liabilities of the Bangko Sentral and of other banks which are denominated in Philippine currency and are subject to payment in legal tender upon demand by the presentation of checks.

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Source: Official Gazette of the Republic of the Philippines — Philippine laws are public documents (works of the government).

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