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COMMONWEALTH ACTS
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Sponsored
by: The
ChanRobles Group
A
collection of Philippine laws, statutes and codes
not
included or cited in the main
indices
of
the Chan Robles Virtual Law Library.
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| COMMONWEALTH ACT NO. 116 - AN ACT TO MAKE THE RICE AND CORN FUND CREATED BY ACT NUMBERED TWENTY-EIGHT HUNDRED AND EIGHTEEN, AS AMENDED AVAILABLE FOR LOANS NOT ONLY TO AGRICULTURAL CREDIT COOPERATIVE ASSOCIATIONS ORGANIZED UNDER ACT NUMBERED TWENTY-FIVE HUNDRED AND EIGHT, AS AMENDED, BUT ALSO TO COOPERATIVE MARKETING ASSOCIATIONS ORGANIZED UNDER ACT NUMBERED THIRTY-FOUR HUNDRED AND TWENTY-FIVE, AS AMENDED, TO MAKE THE SAID FUND A REVOLVING FUND, TO AUTHORIZE THE NATIONAL LOAN AND INVESTMENT BOARD TO ISSUE RULES AND REGULATIONS, AND TO PROVIDE EXEMPTION FROM COURT FEES AND LEGAL CHARGES AND THE MANNER OF PUBLISHING NOTICES OF SALE |
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Section
1. The provisions of Act Numbered Twenty-eight hundred eighteen, as
amended, entitled, "An Act to encourage the rice and corn production in
the Philippine Islands, to appropriate the necessary fund therefor and
for other purposes," to the contrary notwithstanding, the National Loan
and Investment Board is hereby authorized to loan the fund appropriated
by said Act with all its income not only to agricultural credit
cooperative associations organized under Act Numbered Twenty-five
hundred and eight, as amended, but also to cooperative marketing
associations organized under Act Numbered Thirty-four hundred and
twenty-five, as amended, such fund to be available for loans not only
for the purpose of increasing the production of rice and corn in the
Philippines but also for the stable, orderly, and profitable marketing
of agricultural products; and the said fund shall hereafter be made a
revolving fund to be used exclusively for the purposes specified in
this Act. Section2. Section3. Section4. Section5. Section6. Section7. Approved: November 3, 1936. |
Since 19.07.98.
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