Section 14Sec./Art. 14

The Land Bank of the Philippines, the Development Bank of the Philippines or any government-owned or controlled bank or financial institution shall, within sixty (60) days of certification of the Monetary Board, which shall be final, extend to a rural bank a loan or loans from time to time repayable in ten (10) years, with concessional rates of interest, against security which may be offered by any stockholders or stockholders of the rural bank: Provided:

a. That the Monetary Board is convinced that the resources of the rural bank are inadequate to meet the legitimate credit requirements of the locality wherein the rural bank is established.;

b. That there is a dearth of private capital in the said locality; and

c. That it is not possible for the stockholders of the rural bank to increase the paid-up capital thereof.