[ Act No. 3703, November 20, 1930 ]

AN ACT AMENDING THE FIRST PARAGRAPH OF SECTION SIXTEEN HUNDRED AND THIRTY-SIX OF ACT NUMBERED TWENTY-SEVEN HUNDRED AND ELEVEN, KNOWN AS THE ADMINISTRATIVE CODE, AS AMENDED BY ACT NUMBERED THIRTY-FIVE HUNDRED AND NINETEEN.

Be it enacted by the Senate and House of Representatives of the Philippines in Legislature assembled and by the authority of the same:SECTION 1. Section sixteen hundred and thirty-six of Act Numbered Twenty-seven hundred and eleven, as amended by Act Numbered Thirty-five hundred and nineteen, is hereby further amended so that the first paragraph thereof shall read as follows:

"SEC. 1636. Report of certain institutions to Bank Commissioner.—Every bank and banking institution shall at least four times in each year make a report in writing to the Bank Commissioner. Such report, which shall be of a past date designated by the Bank Commissioner, shall show the actual financial condition of the institution making the report, and shall contain such information as may be required in the regulations of the Bureau of Banking, or may be called for by the Bank Commissioner in special inquiries. As of the same dates, each bank or trust company, or building and loan association shall publish a condensed statement in such form as may be prescribed by the Bureau of Banking of its financial condition, at least once in some newspaper of general circulation published principally in English or Spanish, and located in or nearest the city where the principal office, in the case of a domestic institution, or the principal branch or agency in the case of a foreign banking corporation, is located, but if no newspaper be published in the same province, then in a newspaper in the City of Manila."

SEC. 2. This Act shall take effect on its approval.Approved, November 20, 1930.

Source: Supreme Court E-Library