Bill Type
Congress Name
Long Title
AN ACT PROVIDING THAT THE CERTIFICATE OF LAND OWNERSHIP AWARD ISSUED UNDER THE COMPREHENSIVE AGRARIAN REFORM PROGRAM SHALL BE ACCEPTED BY FINANCIAL INSTITUTIONS AS COLLATERAL FOR LOANS, AMENDING FOR THE PURPOSE THE COMPREHENSIVE AGRARIAN REFORM LAWOF 1988
Date filed
November 22, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 3946, 12th Congress of the Republic | |
| FULL TITLE : AN ACT PROVIDING THAT THE CERTIFICATE OF LAND OWNERSHIP AWARD ISSUED UNDER THE COMPREHENSIVE AGRARIAN REFORM PROGRAM SHALL BE ACCEPTED BY FINANCIAL INSTITUTIONS AS COLLATERAL FOR LOANS, AMENDING FOR THE PURPOSE THE COMPREHENSIVE AGRARIAN REFORM LAWOF 1988 | |
| ABSTRACT : SUBJECT TO THE RIGHTS OF THE LAND BANK OF THE PHILIPPINES OVER THE AWARDED LAND, ALL FINANCIAL INSTITUTIONS SHALL ACCEPT AS COLLATERAL FOR LOANS ANY DULY REGISTERED CERTIFICATE OF LAND OWNERSHIP AWARD ISSUED BY THE DEPARTMENT OF AGRARIAN REFORM; PROVIDED, THAT THE LOANS OBTAINED SHALL BE USED IN THE IMPROVEMENT OR DEVELOPMENT OF THE LAND AWARDED OR THE ESTABLISHMENT OF FACILITIES THAT WILL ENHANCE PRODUCTION OR MARKETING OF AGRICULTURAL PRODUCTS OR WILL INCREASE FARM INCOME. | |
| PRINCIPAL AUTHOR/S : DADIVAS, RODRIGUEZ D. | |
| DATE FILED : 2001-11-22 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Monfort (044 ) | 2. Espino (035 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| MOTHER BILL: House Bill No. 5511, 12th Congress of the Republic | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON AGRARIAN REFORM ON 2001-11-28 |
Abstract
SUBJECT TO THE RIGHTS OF THE LAND BANK OF THE PHILIPPINES OVER THE AWARDED LAND, ALL FINANCIAL INSTITUTIONS SHALL ACCEPT AS COLLATERAL FOR LOANS ANY DULY REGISTERED CERTIFICATE OF LAND OWNERSHIP AWARD ISSUED BY THE DEPARTMENT OF AGRARIAN REFORM; PROVIDED, THAT THE LOANS OBTAINED SHALL BE USED IN THE IMPROVEMENT OR DEVELOPMENT OF THE LAND AWARDED OR THE ESTABLISHMENT OF FACILITIES THAT WILL ENHANCE PRODUCTION OR MARKETING OF AGRICULTURAL PRODUCTS OR WILL INCREASE FARM INCOME.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.