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[ Act No. 2082, November 29, 1911 ]
AN ACT TO AMEND ACT NUMBERED FIFTY-TWO, ENTITLED "AN ACT PROVIDING FOR EXAMINATIONS OF BANKING INSTITUTIONS IN THE PHILIPPINE ISLANDS, AND FOR REPORTS BY THEIR OFFICERS," AS AMENDED BY ACT NUMBERED EIGHT HUNDRED AND THIRTY-NINE, BY PROVIDING FOR THE EXAMINATION OF BANKS EVERY TWELVE MONTHS, AND FOR OTHER PURPOSES.
By authority of the United States, be it enacted by the Philippine Legislature, that:
SECTION 1. Section three of Act Numbered Fifty-two entitled "An Act providing for examinations of banking institutions in the Philippine Islands, and for reports by their officers," as amended by Act Numbered Eight hundred and thirty-nine, is hereby amended to read as follows:
SECTION 1. Section three of Act Numbered Fifty-two entitled "An Act providing for examinations of banking institutions in the Philippine Islands, and for reports by their officers," as amended by Act Numbered Eight hundred and thirty-nine, is hereby amended to read as follows:
"SEC. 3. It shall be the duty of the Insular Treasurer, personally, or by a deputy authorized by him, at least once in every twelve months, and at such other times as he may deem expedient, to make an examination of the books of every such bank, of its cash and available assets in the Philippine Islands, and of its general condition and method of doing business, and to make report of the same to the Governor-General and to the Secretary of War."Enacted, November 29, 1911.