Legislative History
| House Bill/Resolution NO. House Bill No. 6362, 12th Congress of the Republic |
| FULL TITLE : AN ACT AMENDING SECTION 3 (B) OF REPUBLIC ACT NO. 3518, AS AMENDED BY REPUBLIC ACT NO. 7169, ENTITLED "AN ACT CREATING THE PHILIPPINE VETERANS BANK AND FOR OTHER PURPOSES" |
| ABSTRACT : At present, World War II veterans, their widows or heirs are given, at most, 20 shares of stock of the Veterans Bank. These veterans can purchase additional shares of stock should they wish to own more shares than what the government has provided for them. This bill aims to limit the ownership of shares of stock of the Veterans Bank to 1,000 shares per veteran, widow or compulsory heir. It also allows veterans other than World War II veterans to own shares of stock of the Veterans Bank up to a maximum of 1,000 shares only. Shares which were subscribed or owned in excess of 1,000 units shall be sold back to the Bank or to other veterans at the prevailing fair market value. |
| PRINCIPAL AUTHOR/S : DUMPIT, TOMAS M. |
| DATE FILED : 2003-08-27 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2003-09-03 |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON VETERAN'S AFFAIRS |
Abstract
At present, World War II veterans, their widows or heirs are given, at most, 20 shares of stock of the Veterans Bank. These veterans can purchase additional shares of stock should they wish to own more shares than what the government has provided for them. This bill aims to limit the ownership of shares of stock of the Veterans Bank to 1,000 shares per veteran, widow or compulsory heir. It also allows veterans other than World War II veterans to own shares of stock of the Veterans Bank up to a maximum of 1,000 shares only. Shares which were subscribed or owned in excess of 1,000 units shall be sold back to the Bank or to other veterans at the prevailing fair market value.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.