CBP Memorandum
CBP Memorandum • Bangko Sentral ng Pilipinas • Memoranda (Unnumbered) • Oct 20, 1966
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October 20, 1966 CBP MEMORANDUM TO : Savings and Loan Associations No. 7-66 For the information and guidance of all concerned, it is hereby advised that shares of stock of savings and loan associations are exempt securities under Section 5(5) of the Securities Act (Commonwealth Act No. 83, as amended). cdlex Prior permission of the Securities and Exchange Commission, therefore, need not be secured in the sale and issuance of said shares to the general public. (SGD.) CELSO S. BATE Director
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