Amendment to Sec. 1989 of Act No. 2711 (Revised Administrative Code)
Act No. 3731, approved on November 21, 1930, amends Section 1989 of the Administrative Code regarding the Postal Savings Bank Board. The Board will consist of five members appointed by the Governor-General, with Senate consent, serving three-year terms. Members will elect a chairman and vice-chairman, and the Superintendent of the Postal Savings Bank Division will act as Secretary. Each member receives a per diem compensation of twenty pesos, capped at five hundred pesos annually, funded by the bank's profits. The Act takes effect upon approval.
Law Information
- Reference Number
- Act No. 3731
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 21, 1930
ACT NO. 3731
AN ACT TO AMEND SECTION NINETEEN HUNDRED AND EIGHTY-NINE OF ACT NUMBERED TWENTY-SEVEN HUNDRED AND ELEVEN, KNOWN AS THE ADMINISTRATIVE CODE, AS AMENDED BY ACT NUMBERED THIRTY-THREE HUNDRED AND TWENTY-EIGHT
SECTION 1. Section nineteen hundred and eighty-nine of Act Numbered Twenty-seven hundred and eleven, known as the Administrative Code, as amended by Act Numbered Thirty-three hundred and twenty-eight, is hereby further amended to read as follows:
"SEC. 1989. Postal Savings Bank Board. — The Postal Savings Bank Board, hereinafter referred to as the Board, shall consist of five members who shall be appointed by the Governor-General, with the consent of the Philippine Senate, and shall hold office for a term of three years. The members of the Board shall elect from among themselves a chairman and a vice-chairman. The Superintendent, Postal Savings Bank Division, shall be the Secretary of the Board. Each member of the Board shall receive a compensation of twenty pesos per diem for attendance at the sessions of the Board: Provided, That in no year shall this remuneration exceed five hundred pesos for each member of the Board. This compensation shall be paid out of the profits of the Postal Savings Bank."
SECTION 2. This Act shall take effect on its approval.
Approved, November 21, 1930.
Cite This Law
Amendment to Sec. 1989 of Act No. 2711 (Revised Administrative Code), Act No. 3731, Nov 21, 1930 (Philippines)
Amendment to Sec. 1989 of Act No. 2711 (Revised Administrative Code), Act No. 3731 (Phil. 1930)
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- Amendment to Revised Administrative Code Re: Registration of Chattel MortgagesRepublic Act No. 2711 • Jun 18, 1960 • Statutes
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- Amendment to Sec. 1414 of Act No. 2711 (Revised Administrative Code)Act No. 4056 • Mar 1, 1933 • Statutes
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