ChanRobles Virtual law Library
PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
Republic Acts :
REPUBLIC ACTS
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REPUBLIC ACT NO. 2641 - AN ACT
CONVERTING THE NATIONAL POWER CORPORATION INTO A STOCK CORPORATION,
AMENDING FOR THE PURPOSE COMMONWEALTH ACT NUMBERED ONE HUNDRED TWENTY |
Section 1.
Commonwealth Act Numbered One hundred twenty, as amended, is further
amended by inserting between sections two and three thereof a new
section, to be known as Section Two-A which shall read as follows: "Sec. 2-A. The National Power Corporation shall have an
authorized capital stock of one hundred million pesos divided into one
million shares having a par value of one hundred pesos each, which
shares may not be transferred, negotiated, pledged, mortgaged, or
otherwise given as security for the payment of any obligation. The said
capital stock shall be subscribed wholly by the Government of the
Philippines and shall be paid as follows: Sec. 2. This Act shall take effect upon its approval. Approved: June 18, 1960 |
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