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 ACT NO. 6014 - AN ACT CREATING THE STUDENTS' LOAN FUND AUTHORITY, PRESCRIBING ITS POWERS, FUNCTIONS AND DUTIES, AND AUTHORIZING THE APPROPRIATION OF FUNDS THEREFOR
Section 1. Declaration of Policy. — It is hereby declared a national policy to give equal opportunity to all persons who desire to pursue higher education by extending financial assistance and promoting scholarship grants-in-aid to deserving students to the end that no person shall be deprived of the benefits of education on account of poverty.
Sec. 2. Students' Loan Fund Authority. — To carry out such declared policy, there is hereby created a Students' Loan Fund Authority under the Department of Education, hereinafter referred to as the Authority, which shall be organized within sixty days after the approval of this Act. The Authority shall have its principal place of business in the City of Manila.
Sec. 3. Definition of Terms. — For purposes of
this Act, the following terms shall mean:
Sec. 4. Powers, Functions and Duties of the
Authority. — The Authority shall have the following powers, functions
Sec. 5. Executive Board. — The powers of the
Authority shall be exercised and its functions and duties performed by
an Executive Board which shall be composed of twelve members, with the
Secretary of Education as Chairman, or in his absence, the
Undersecretary of Education for policy, who shall all be appointed by
the President of the Philippines with the consent of the Commission on
Appointments. The other members are as follows:
Sec. 6. Term of Office. — The members of the Board shall hold office for a term of four years from the date of their respective appointments and may not be removed except for cause: provided, however, that in the case of the representatives from the sectarian or non-sectarian universities and colleges, a request by the organization involved to change its representative shall be deemed sufficient cause for removal.n case of vacancy in the Board due to death, resignation, removal or incapacity of a member thereof, the President may appoint a successor who shall serve for the unexpired portion of the term of the member he replaced.
Sec. 7. Meetings of the Board. — The Board shall meet at least once a month or as often as may be necessary to carry into effect the purposes of this Act. The Board shall be convened by the Chairman or upon the written request of at least three members thereof.
Sec. 8. Compensation of Members. — The Chairman and Members of the Board shall each receive a per diem of fifty pesos for each day of meeting personally and actually attended by them, but which in no case shall aggregate more than two hundred pesos a month.
Sec. 9. Commissioners of the Authority. — There
shall be in the Authority a Commissioner who shall be assisted in the
exercise of his powers and the performance of his functions and duties,
by one Deputy Commissioner. The Commissioner and the Deputy
Commissioner shall be appointed by the Executive Board with the
approval of the President of the Philippines. The Commissioners shall
have at least seven years experience in school or educational
administration and a holder of at least a Master's Degree or its
equivalent conferred by a reputable educational institution.
Approved: August 4, 1969