Amendment to Sec. 3 of Act No. 2427
Act No. 3696, approved on November 20, 1930, amends Section 3 of Act No. 2427 regarding insurance policies. It allows for the insurance of any contingent or unknown event that may cause damage to a person with an insurable interest or create a liability against them. Importantly, the amendment specifies that a married woman can take out an insurance policy on her life or that of her children without needing her husband's consent. The Act is effective upon its approval.
Law Information
- Reference Number
- Act No. 3696
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 20, 1930
ACT NO. 3696
AN ACT TO AMEND SECTION THREE OF ACT NUMBERED TWENTY-FOUR HUNDRED AND TWENTY-SEVEN, AND FOR OTHER PURPOSES
SECTION 1. Section three of Act Numbered Twenty-four hundred and twenty-seven is hereby amended to read as follows:
"SEC. 3. Any contingent or unknown event, whether past or future, which may damnify a person having an insurable interest, or create a liability against him, may be insured against subject to the provisions of this chapter. The consent of the husband is not necessary for the validity of an insurance policy taken out by a married woman on her life or that of her children."
SECTION 2. This Act shall take effect on its approval.
Approved, November 20, 1930.
Cite This Law
Amendment to Sec. 3 of Act No. 2427, Act No. 3696, Nov 20, 1930 (Philippines)
Amendment to Sec. 3 of Act No. 2427, Act No. 3696 (Phil. 1930)
Related Laws
- Amendment to Sec. 3 of Act No. 2427, as AmendedAct No. 3870 • Nov 13, 1931 • Statutes
- Amendment to Sec. 3 of Act No. 3798Act No. 4216 • Aug 5, 1935 • Statutes
- Amendment to Sec. 3 of Act No. 3912Act No. 4067 • Sep 4, 1933 • Statutes
- Amendment to Sec. 3 of Act No. 2941, as AmendedAct No. 3320 • Dec 4, 1926 • Statutes
- Amendment to Sec. 3 of Act No. 4010Act No. 4049 • Feb 18, 1933 • Statutes
- Amendment to Sec. 3 of Act No. 3203Act No. 3725 • Nov 21, 1930 • Statutes
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