Republic Acts1 min read
Section 17Sec./Art. 17
Personal notes Saved on this device
0 / 5,000 charactersReport page issue
Answer First
Primary Text
Deposits of rural banks with government-owned or controlled financial institutions like the Land Bank of the Philippines, the Development Bank of the Philippines, and the Philippine national Bank are exempted from the Single Borrowers Limit imposed by the General Banking Act.
In areas where there are no government banks, rural banks may deposit in private banks more than the amount prescribed by the Single Borrowers Limit subject to Monetary Board regulations.
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.