Republic Acts1 min read
Section 4May 22, 2007, Sec./Art. 4
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Form of Organization. - A lending company shall be established only as a corporation: Provided That existing lending investors organized as single proprietorships or partnerships shall be disallowed from engaging in the business of granting loans to the public one year after the date of effectivity of this Act.
No lending company shall conduct business unless granted an authority to operate by the SEC.
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