Republic Acts1 min read
Section 31Sec./Art. 31
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Management of Funds. -There shall be an independent trust committee to be composed of the President of the BatStateU, as Chairperson, and with representatives from the BAP, IHAP, TOAP, and FINEX, as representatives, and who shall be entitled to a reasonableper diem,as the Board may specify.
The independent thrust committee shall recommend to the Board five (5) universal banks selected on a prudent basis. Trust departments shall manage the corporate and other funds through trust agreements of the BatStateU in a non-directed basis:Provided,That any such agreement shall be for a period of not more than two (2) years.
The independent trust committee shall provide the Board with the direction on appropriate investments with the view of preserving the value of funds while allowing the BatStateU to earn a reasonable return thereto.
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