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3591, as amended) AN ACT ESTABLISHING THE PHILIPPINE DEPOSIT INSURANCE CORPORATION, DE INING ITS PO!ERS AND DUTIES AND OR OTHER PURPOSES
Section 1. Section 2. Section #. Section &. Section '. Section ). Section +. Section -. Section ./12. Section 1#. Section 1&/1). Section 1+ a/c. Section 1+ d. Section 1-. Section 1.. Section 22. Section 21. Section 2). Section 2+. Section 2-.
The Creation of the Philippine Deposit Insurance Corporation Board of Directors: Co position and !uthorit" President of the Corporation$ Co pensation$ Po%ers and Duties Definition of Ter s Deposit Insurance Co(erage !ssess ent of Me ber Ban*s Sanctions !gainst ,nsafe and ,nsound Ban*ing Practices Po%ers as a Corporate Bod" Po%ers and Responsibilities and Prohibitions Per anent Insurance 0und Pa" ent of Insured Deposits Corporate 0unds 0inancial !ssistance !uthorit" to Borro% Issuance of Bonds$ Debentures$ and 1ther 1bligations Reports Sanctions and Penalties Separabilit" Clause Repealing Clause 3ffecti(it" Clause
THE CREATION O THE PHILIPPINE DEPOSIT INSURANCE CORPORATION SECTION 1. There is hereb" created a Philippine Deposit Insurance Corporation hereinafter referred to as the 4Corporation5 %hich shall insure$ as herein pro(ided$ the deposits of all ban*s %hich are entitled to the benefits of insurance under this !ct$ and %hich shall ha(e the po%ers hereinafter granted. The Corporation shall$ as a basic polic"$ pro ote and safeguard the interests of the depositing public b" %a" of pro(iding per anent and continuing insurance co(erage on all insured deposits.1