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RA 85 Section 13

Section 13

SEC. 13. No officer or employee of the Corporation nor any government official who may exercise executive or supervisory authority over the said Corporation, either directly or indirectly, for himself or as the representative or agent of others, shall borrow money from the Corporation, nor shall he become a guarantor, indorser, or surety for loans from the said Corporation to others, or in any manner be an obligor for moneys borrowed of the said Corporation. Any such officer or employee who violates the provisions of this section shall be immediately removed by competent authority and said officer or employee shall be punished by imprisonment not less than one year nor exceeding five years and by a fine of not less than one thousand nor more than five thousand pesos.

Read the full instrument → · Open the chapter this section belongs to: Chapter III.—Miscellaneous Provisions →

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

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

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