Section 21Sec./Art. 21

Prohibited Acts. - Without prejudice to any prosecution under any law which may have been violated, a fine of not more than Ten thousand pesos (P10,000) or imprisonment for not less than six (6) months but not more than ten (10) years, or both, at the discretion of the court, shall be imposed upon:

a. Any officer, employee, or agent of a thrift bank who shall:

1. Make false entries in any bank report or statement thereby affecting the financial interest of, or causing damage to, the bank or any person; or

2. Without order of a court of competent jurisdiction, disclose any information relative to the funds or properties in the custody of the bank belonging to private individuals, corporations, or any other entity, or

3. Accept gifts, fees or commissions or any other form of remuneration in connection with the approval of a loan from said bank; or

4. Overvalue or aid in the overvaluing any security for the purpose of influencing in any way the action of the bank on any loan; or

5. Appear and sign as guarantor, indorser, or surety for loans granted; or

6. Violate any provision of this Act.

b. Any applicant for a 'loan from, or borrower of a thrift bank who shall:

1. Misuse, misapply or divert the proceeds of the loan obtained by him from its declared purpose; or

2. Fraudulently overvalue property offered as security for a loans from said bank; or

3. Give out or furnish false or willful misinterpretation of material facts for the purpose of obtaining, renewing, or increasing a loan extending the period thereof; or

4. Attempt to defraud the said bank in the event of court action to recover the loan; or

5. Offer any officer, employee or agent of a thrift bank a gift, fee, commission or other forms of compensation in order to influence such bank personnel into approving a loan application; or

6. Dispose or encumber the property offered as security for the loan.

c. Any examiner, or officer or employee of the Bangko Sentral or of any department, bureau, office, branch or agency of the government who is assigned to examine, supervise, assist or. render technical service to thrift banks and who shall connive or aid in the commission of the same.

d. Any metropolitan, municipal, or municipal circuit trial court judge or register of deeds who shall demand or accept, directly or indirectly, any gift, fee, commission, or any other form of compensation in connection with the service, or shall arbitrarily and without reasonable cause delay the acknowledgment or administration of oath or the registration of documents required to be performed by said judge or by said register of deeds shall be punished with a fine of not more than One thousand pesos (P1, 000) or by imprisonment of not more than one (1) year, or both, at the discretion of the court.

e. Any bank not organized under this Act and any person, association, or corporation doing the business of banking, not authorized under this Act or existing laws which shall use the words "Development Bank," "Savings Bank," "Mortgage Bank," "Savings and Mortgage Bank", or "Savings and Loan Association," as part of the name or title of such bank or of such person, association, or corporation, shall be punished by a fine of not less than One hundred pesos (P100), but in no case to exceed Thirty thousand pesos (P30,000), for each day during which the said words are so used.

CHAPTER IX - GENERAL PROVISIONS