Republic Acts1 min read
Section 24Sec./Art. 24
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Qualifications. - The Servicer shall be a corporation duly incorporated under Philippine law, with a minimum authorized capitalization of Ten million pesos (P10,000,00.00) or such higher amounts as the Commission may prescribe. It shall be independent of the SPC or the trustee and shall not share common ownership, officers, or directors with the SPC or the trustees. The Originator or Seller may act as the Servicer as may be approved by the Commission or the BSP, as the case may be.
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