Republic Act No. 111: An act amending section nine of act numbered three thousand nine hundred and fifty-two, entitled "an act to regulate the sale, transfer, mortgage or assignment of goods, wares, merchandise, provisions or materials, in bulk, and prescribing penalties for the violation of the provisions thereof"

Republic Act No. 111

An act amending section nine of act numbered three thousand nine hundred and fifty-two, entitled "an act to regulate the sale, transfer, mortgage or assignment of goods, wares, merchandise, provisions or materials, in bulk, and prescribing penalties for the violation of the provisions thereof"

An Act Amending Section Nine of Act Numbered Three Thousand Nine Hundred and Fifty-Two, Entitled "An Act to Regulate the Sale, Transfer, Mortgage or Assignment of Goods, Wares, Merchandise, Provisions or Materials, in Bulk, and Prescribing Penalties for the Violation of the Provisions Thereof"

In plain language

This Republic Act amends Section 9 of Act 352 to mandate the registration of sworn statements listing creditors of vendors or mortgagors and imposes a fee of five pesos for each registration.

Requires registration of sworn statements of creditors

Imposes a fee of five pesos per registration

Amendment

Commercial Law

Registration

REPUBLIC ACT No. 111

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1

Section nine of Act Numbered Three thousand nine hundred and fifty-two is hereby amended so as to read as follows:

"Sec. 9. The sworn statement containing the names and addresses of all creditors of the vendor or mortgagor provided for in section three of this Act, shall be registered in the Bureau of Commerce. For the registration of each such sworn statement a fee of five pesos shall be charged to the vendor or mortgagor of the stock of goods, wares, merchandise, provisions or materials, in bulk.

Section 2

This Act shall take effect upon its approval.

Approved: June 2, 1947

For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.