Republic Acts1 min read
Section 14January 24, 1991, Sec./Art. 14
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Penal Clause. — The Central Bank shall impose administrative sanctions and other penalties on the lending institution for non-compliance with provisions of Act. In addition, the president, members of boards of directors, and other officers of the erring lending institutions shall be individually liable for imprisonment of not less than six (6) months and a fine of not less than Five hundred thousand (P500,000) each.
CHAPTER IV
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