Amendment to Act No. 3952 (Bulk Sales Law)
Republic Act No. 111, enacted on June 2, 1947, amends Section Nine of Act No. 3952, which regulates the sale, transfer, mortgage, or assignment of goods in bulk. The amendment requires vendors or mortgagors to register a sworn statement listing the names and addresses of all creditors with the Bureau of Commerce. A registration fee of five pesos is imposed for this service. The Act took effect immediately upon its approval and was published in the Official Gazette in July 1947.
Law Information
- Reference Number
- Republic Act No. 111
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 2, 1947
REPUBLIC ACT NO. 111
AN ACT AMENDING SECTION NINE OF ACT NUMBERED THREE THOUSAND NINE HUNDRED AND FIFTY-TWO, ENTITLED "AN ACT TO REGULATE THE SALE, TRANSFER, MORTGAGE OR ASSIGNMENT OF GOODS, WARES, MERCHANDISE, PROVISIONS OR MATERIALS, IN BULK, AND PRESCRIBING PENALTIES FOR THE VIOLATION OF THE PROVISIONS THEREOF"
SECTION 1. Section nine of Act Numbered Three thousand nine hundred and fifty-two is hereby amended so as to read as follows:
"Sec. 9. The sworn statement containing the names and addresses of all creditors of the vendor or mortgagor provided for in section three of this Act, shall be registered in the Bureau of Commerce. For the registration of each such sworn statement a fee of five pesos shall be charged to the vendor or mortgagor of the stock of goods, wares, merchandise, provisions or materials, in bulk."
SECTION 2. This Act shall take effect upon its approval.
Approved: June 2, 1947
Published in the Official Gazette, Vol. 43, No. 7, p. 2542 in July 1947
Cite This Law
Amendment to Act No. 3952 (Bulk Sales Law), Republic Act No. 111, Jun 2, 1947 (Philippines)
Amendment to Act No. 3952 (Bulk Sales Law), Republic Act No. 111 (Phil. 1947)
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