Section 3October 21, 1997, Sec./Art. 3

Definition of terms. – For the purposes of implementing this Act, the following definitions shall apply:

a) Non-stock savings and loan association shall mean a non-stock, non-profit corporation engaged in the business of accumulating the savings of its members and using such accumulations for loans to members to service the needs of households by providing long term financing for home building and development and for personal finance;

b) Association shall refer only to non-stock savings and loan associations organized under this Act and the Corporation Code of the Philippines;

c) Monetary Board shall mean the Monetary Board of the Bangko Sentral ng Pilipinas; and

d) Bangko Sentral shall mean the Bangko Sentral ng Pilipinas.