Revocation of License to Operate as a Non-Stock Savings and Loan Association of PAL Employees' Savings and Loan Association, Inc.
BSP Circular Letter No. CL-2013-018 • Bangko Sentral ng Pilipinas • Circular Letters • Mar 12, 2013
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March 12, 2013 BSP CIRCULAR LETTER NO. CL-2013-018 TO : All Banks and Non-Bank Financial Institutions SUBJECT : Revocation of License to Operate as a Non-Stock Savings and Loan Association (NSSLA) of PAL Employees' Savings and Loan Association, Inc. The Monetary Board, in its Resolution No. 238, dated 7 February 2013, approved the revocation of the license to operate as an NSSLA of PAL EMPLOYEES' SAVINGS AND LOAN ASSOCIATION, INC., pursuant to Section 22 of Republic Act No. 8367, otherwise known as the "Revised Non-Stock Savings and Loan Association Act of 1997". (SGD.) NESTOR A. ESPENILLA, JR. Deputy Governor
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