An Act Directing the Secretary of Agriculture and Commerce, the Philippine National Bank, and the National Development Company to Establish, Operate, and Maintain Warehouses for Copra and Other Marketable Products
Commonwealth Act No. 50, enacted on October 14, 1936, mandates the Secretary of Agriculture and Commerce, the Philippine National Bank, and the National Development Company to establish, operate, and maintain warehouses for copra and other marketable products. The Act allows for the leasing or acquisition of suitable warehouse locations and enables the appointment of government employees or other suitable personnel for warehouse operations. It also stipulates the issuance of quedans and receipts for deposited products in accordance with the Warehouse Receipts Act. Additionally, municipalities may acquire and manage warehouses within their jurisdiction, under specific regulations and agreements for reimbursement of investments. The Act takes effect upon its approval.
Quick Answers
- What is An Act Directing the Secretary of Agriculture and Commerce, the Philippine National Bank, and the National Development Company to Establish, Operate, and Maintain Warehouses for Copra and Other Marketable Products about?
- Commonwealth Act No. 50, enacted on October 14, 1936, mandates the Secretary of Agriculture and Commerce, the Philippine National Bank, and the National Development Company to establish, operate, and maintain warehouses for copra and other marketable products. The Act allows for the leasing or acquisition of suitable warehouse locations and enables the appointment of government employees or other suitable personnel for warehouse operations. It also stipulates the issuance of quedans and receipts for deposited products in accordance with the Warehouse Receipts Act. Additionally, municipalities may acquire and manage warehouses within their jurisdiction, under specific regulations and agreements for reimbursement of investments. The Act takes effect upon its approval.
- What type of law is Commonwealth Act No. 50?
- An Act Directing the Secretary of Agriculture and Commerce, the Philippine National Bank, and the National Development Company to Establish, Operate, and Maintain Warehouses for Copra and Other Marketable Products (Commonwealth Act No. 50) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was An Act Directing the Secretary of Agriculture and Commerce, the Philippine National Bank, and the National Development Company to Establish, Operate, and Maintain Warehouses for Copra and Other Marketable Products enacted?
- An Act Directing the Secretary of Agriculture and Commerce, the Philippine National Bank, and the National Development Company to Establish, Operate, and Maintain Warehouses for Copra and Other Marketable Products (Commonwealth Act No. 50) was enacted on Oct 14, 1936.
- What is the citation for An Act Directing the Secretary of Agriculture and Commerce, the Philippine National Bank, and the National Development Company to Establish, Operate, and Maintain Warehouses for Copra and Other Marketable Products?
- An Act Directing the Secretary of Agriculture and Commerce, the Philippine National Bank, and the National Development Company to Establish, Operate, and Maintain Warehouses for Copra and Other Marketable Products, Commonwealth Act No. 50, Oct 14, 1936 (Philippines)
Law Information
- Reference Number
- Commonwealth Act No. 50
- Date Enacted
- Category
- Statutes
- Subcategory
- Commonwealth Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
October 14, 1936
COMMONWEALTH ACT NO. 50
AN ACT DIRECTING THE SECRETARY OF AGRICULTURE AND COMMERCE, THE PHILIPPINE NATIONAL BANK, AND THE NATIONAL DEVELOPMENT COMPANY TO ESTABLISH, OPERATE, AND MAINTAIN WAREHOUSES FOR COPRA AND OTHER MARKETABLE PRODUCTS
SECTION 1. The Secretary of Agriculture and Commerce, the Philippine National Bank, and the National Development Company are hereby directed to establish, operate, and maintain warehouses wherein copra and, if space is available, other marketable products shall be accepted for deposit at reasonable rates of fees under such rules and regulations as they shall promulgate. For this purpose they are directed to acquire, by lease or otherwise, suitable warehouses in places where, in their opinion, the establishment and operation of such warehouses are justified, and they may employ the services of any officer or employee of the Government with the approval of the respective Department head, or if such officer or employee is not available, they may employ the services of any other suitable person. Any officer or employee or person in charge of any of the warehouses created under this Act shall have the privilege of being bonded in the Fidelity Fund.
SECTION 2. Quedans and receipts shall be issued for the products so deposited in accordance with the Warehouse Receipts Act.
SECTION 3. The Philippine National Bank and the National Development Company are hereby directed to invest out of the funds under their control such amount as may be needed for the establishment, operation, and maintenance of the warehouses herein provided for, under such regulations and in accordance with such arrangement as may be agreed upon between them and the Secretary of Agriculture and Commerce. Upon the request of a municipality, the latter may acquire and operate any of the warehouses located within its jurisdiction and established pursuant to this Act, and operate and maintain the same in accordance with Acts Numbered Three thousand nine hundred and twenty-nine and Three thousand nine hundred and thirty-two, and under such arrangement as may be agreed upon between said municipality and the Government institutions and authorities concerned for the reimbursement of the money invested in the establishment of said warehouses.
SECTION 4. This Act shall take effect upon its approval.
Approved, October 14, 1936.
Cite This Law
An Act Directing the Secretary of Agriculture and Commerce, the Philippine National Bank, and the National Development Company to Establish, Operate, and Maintain Warehouses for Copra and Other Marketable Products, Commonwealth Act No. 50, Oct 14, 1936 (Philippines)
An Act Directing the Secretary of Agriculture and Commerce, the Philippine National Bank, and the National Development Company to Establish, Operate, and Maintain Warehouses for Copra and Other Marketable Products, Commonwealth Act No. 50 (Phil. 1936)
Related Laws
- An Act Authorizing the Philippine National Bank, the National Development Company, and the Secretary of Agriculture and Commerce to Establish and Maintain Warehouses for Tobacco and Other Marketable ProductsCommonwealth Act No. 95 • Oct 27, 1936 • Statutes
- Directing Provincial Boards to Establish and Maintain Agricultural NurseriesAct No. 2585 • Feb 4, 1916 • Statutes
- Creating the National Development CompanyCommonwealth Act No. 182 • Nov 13, 1936 • Statutes
- Grant of Radio Station Franchise to Philippine Bank of CommerceRepublic Act No. 4678 • Jun 18, 1966 • Statutes
- Amended IRR of R.A. No. 7356 (Law Creating the National Commission for Culture and the Arts)National Commission for Culture and the Arts • Oct 11, 2007 • Implementing Rules and Regulations
- An Act Expanding the Promotion of Breastfeeding, Amending for the Purpose Republic Act No. 7600The Implementing Rules and Regulation of Republic Act No. 10028 • Aug 22, 2011 • Implementing Rules and Regulations
Browse More Statutes
Explore other laws in the Statutes category.
View All StatutesNeed Help Understanding This Law?
Ask our AI assistant to explain provisions, implications, or related laws.
Ask AI About This Law