Republic Acts1 min read
Section 8October 21, 1997, Sec./Art. 8
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Restrictions on Associations. – a) No Association shall have or carry upon its books for any person any demand, commercial or checking account, or any credit to be withdrawn upon the presentation of any negotiable check or draft.
b) No Association shall advertise or represent itself to the public as a bank.
c) No Association shall issue, publish or cause or permit to be issued or published, any advertisement that it is doing or permitted to do any business which is prohibited by law for an Association.
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