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| REPUBLIC ACT NO. 2667 - AN ACT TO
AMEND SECTION TEN OF ACT NUMBERED FORTY-TWO HUNDRED SEVENTY-ONE AS
AMENDED |
|
Section
1. Section ten of Act Numbered Forty-two hundred
seventy-one, as amended, is further amended to read as follows: "Section 10.
The grantee shall not issue stock or bonds except in exchange for
actual cash or for property at least equal in value to the par value of
the stock or bonds so issued: Provided, however, That it may issue
stock or bond dividends upon compliance with the requirements of the
Corporation Law."
Section 2. This Act shall take effect upon its approval. Approved: June 18, 1960 |
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