Amendment to C.A. No. 186 Re: GSIS
Republic Act No. 4066, approved on June 18, 1964, amends Commonwealth Act No. 186 regarding loans secured by real estate. It permits loans based on first liens on improved and unencumbered real property, with a cap of 80% of the fair appraised value, as determined by the Board. Additionally, it stipulates that no more than 70% of total assets can be invested in such loans, which must be repaid within a maximum of 15 years, with possible renewal for an additional 15 years under Board-prescribed terms. The Act took effect upon its approval and was published in the Official Gazette on February 8, 1965.
Law Information
- Reference Number
- Republic Act No. 4066
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 18, 1964
REPUBLIC ACT NO. 4066
AN ACT TO AMEND PARAGRAPH (C) OF SECTION TWENTY-TWO OF COMMONWEALTH ACT NUMBERED ONE HUNDRED EIGHTY-SIX, AS AMENDED
Paragraph (c), Section twenty-two of Commonwealth Act Numbered One hundred eighty-six, as amended, is hereby further amended to read as follows:
"(c) In first liens upon improved and unencumbered real estate situated in any chartered city, municipality or municipal district, title to which is duly registered under Act Numbered Four hundred and ninety-six, as amended: Provided, That no loan shall be made upon the security of real estate in excess of eighty per centum of the fair appraised value thereof to be determined in such manner as the Board shall prescribe: And provided, further, That no more than seventy per centum of the total assets shall be invested in loans on the security of real estate. Loans granted under this subsection shall be paid within a period of not exceeding fifteen years unless renewed for another period of not exceeding fifteen years under such terms and conditions as the Board may prescribe." cd
SECTION 2. This Act shall take effect upon its approval.
Approved: June 18, 1964
Published in the Official Gazette, Vol. 61, No. 6, p. 662 on February 8, 1965
Cite This Law
Amendment to C.A. No. 186 Re: GSIS, Republic Act No. 4066, Jun 18, 1964 (Philippines)
Amendment to C.A. No. 186 Re: GSIS, Republic Act No. 4066 (Phil. 1964)
Related Laws
- Amending C.A. No. 186 and R.A. No. 660 Re: GSISRepublic Act No. 1123 • Jun 16, 1954 • Statutes
- Amendments to C.A. No. 186, as amended (GSIS Act)Republic Act No. 3096 • Jun 17, 1961 • Statutes
- Amendment to C.A. No. 186, as amended Re: Optional InsuranceRepublic Act No. 4781 • Jun 18, 1966 • Statutes
- Amendment to C.A. No. 186 (Government Service Insurance Act)Republic Act No. 3836 • Jun 22, 1963 • Statutes
- Amendments to C.A. No. 186 As AmendedPresidential Decree No. 712 • May 27, 1975 • Presidential Issuances
- Implementing Rules and Reguations of Republic Act No. 8291, the GSIS Act of 1997GSIS Resolution No. 372-97 • Aug 26, 1997 • Implementing Rules and Regulations
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