Republic Acts1 min read
Section 106March 10, 1990, Sec./Art. 106
Personal notes Saved on this device
0 / 5,000 charactersReport page issue
Answer First
Primary Text
Capitalization. - (1) A national cooperative bank shall have a minimum authorized share capital of Two hundred million pesos (P200,000,000.00) in relation to Section 14(5). The authorized share capital shall be divided into such number of shares with a minimum par value of One thousand pesos (P1,000.00) per share. For the purpose primarily of determining the permanency of equity, the types of share a cooperative bank may issue, including the terms thereof and the rights appurtenant thereto, shall be subject to such rules and regulations as the Central Bank may prescribe.
(2) A local cooperative bank shall have a minimum authorized share capital of Twenty million pesos (P20,000,000.00) divided into such number of shares with a minimum par value of One hundred pesos (P100.00) per share.
Use With Care
Definitions and exceptions often appear before or after this text.
Court decisions may interpret, limit, or apply this provision.
Confirm amendment, repeal, effectivity, and official publication.