Section 37Sec./Art. 37

Prohibited Contributions. - It shall be unlawful for any corporation or entity operating a public utility or which is in possession of or is exploiting any natural resources of the nation to contribute or make any expenditure in connection with any election campaign.

The same provision shall apply to: (a) banks, insurance companies, and other financial institutions; (b) natural and juridical persons who hold contracts or sub-contracts to supply the government or any of its divisions, subdivisions or instrumentalities, including government-owned or controlled corporations, with goods or services or to perform construction or other works; (c) natural and juridical persons who have been granted incentives, exemptions, allocations or similar privileges or concessions by the government or any of its divisions, subdivisions or instrumentalities, including government-owned or controlled corporations; and (d) natural or juridical persons who within one year from the date of the election have been granted loans in excess of P25,000.00 by the government or any of its divisions, subdivisions or instrumentalities, including government-owned or controlled corporations.