Republic Acts1 min read
Section 6Sec./Art. 6
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Section 86-A of the same Act relating to the powers and responsibilities of the Board is hereby amended by, adding subsection 6 which reads as follows:
"6. To compromise or release, in whole or in part, any claim or liability whatsoever for or against the bank, including interest, penalties, fees and/or other charges, under such terms and conditions as the board may find acceptable and practicable subject to their best business judgement and to the best interest of the corporation in accord with standard banking practices."
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