Section 27Republic Act No. 6758, otherwise known as the Salary Standardization Law, and from other laws, rules and regulations on salaries and compensations; and to establish a Provident Fund and determine the , Sec./Art. 27

Penalties.

(a) Whoever, for the purpose of obtaining any loan or credit from any person, partnership, association or corporation with the intent that such loans or advance of credit shall be offered to or accepted by the Corporation for guaranty, or for the purpose of credit, or mortgage guaranteed by the said Corporation, or the acceptance, release, or substitution of any security on such loan, advance of credit, or for the purpose of influencing in any way the action of the said Corporation under this Act, (1) makes, passes, utters or publishes, or causes to be made any statement knowing to be false, or (2) alters, forges, or counterfeits, or causes or procures to be altered, forged, or counterfeited, any instrument, paper or documents, or (3) utters, publishes, or passes as true or causes to be uttered, published, or passed as true, any instrument, paper or documents, knowing it to have been altered, forged or counterfeited, or (4) willfully overvalues any security, asset, or income, shall be punished by a fine of not less than the amount of the loan or loans involved or by imprisonment for not more than ten(10)years or both.

(b) Whoever (1) falsely makes, forges, or counterfeits any obligation or coupon, in imitation of or purporting to be an obligation or coupon under authority of this Act, or (2) passes, utters or publishes, or attempts to pass, utter, or publish any false, forged, or counterfeited obligation or coupon purporting to have been so issued knowing the same to be false, forged or counterfeited, or (3) falsely utters any obligation or coupon so issued or purporting to have been so issued, or (4) passes, utters, publishes, or attempts to pass, utters or publish, as true, any falsely altered or spurious obligation or coupon so issued or purporting to have been so issued, knowing the same to be falsely altered or spurious shall be punished by a fine of not less than the amount of loan involved, or by imprisonment for not more than five(5)years, or both.

(c) Any person (1) who willfully and knowingly makes, circulates, or transmits to another or others any statement, or rumor written, printed, or by word of mouth, which is untrue in fact and is directly or by inference derogatory to the financial condition or affects the solvency or financial standing of the Corporation, or 92) who knowingly counsels, aids, procures, or induces another to start, transmit, or circulate such any statement of rumor, is guilty of felony punishable by a fine of not less than the amount of loan involved or by imprisonment of not exceeding one(1)year, or both.