Republic Acts1 min read
Section 9Sec./Art. 9
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The grantee shall file a bond, in such amount as may be fixed by the proper government authority, to guarantee the full compliance and fulfillment of the conditions under which this franchise is granted. If after five (5) years from the date of the effectivity of this Act the grantee shall have fulfilled said conditions, or as soon thereafter as the grantee shall have fulfilled the same, the aforesaid bond shall be cancelled by the government.
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