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Republic Act
Approved June 16, 1956

Republic Act No. 1491

An act authorizing the rehabilitation finance corporation and the philippine national bank to grant loans to graduates of trade, agricultural and technical schools and colleges in the philippines who are filipino citizens

AN ACT AUTHORIZING THE REHABILITATION FINANCE CORPORATION AND THE PHILIPPINE NATIONAL BANK TO GRANT LOANS TO GRADUATES OF TRADE, AGRICULTURAL AND TECHNICAL SCHOOLS AND COLLEGES IN THE PHILIPPINES WHO ARE FILIPINO CITIZENS

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In plain language

This act authorizes the Rehabilitation Finance Corporation and the Philippine National Bank to grant loans to Filipino graduates of trade, technical, and agricultural schools and colleges, providing financial assistance to help them start businesses or develop farms.

  • Loans up to 2,000 pesos for trade/technical graduates and 3,000 pesos for agricultural graduates
  • Loans guaranteed by two solvent, non‑constitutional‑office citizens
  • Repayment over five years at 4% interest
  • Loans to be used for equipment, shop establishment, or agricultural implements
  • Violation punishable by imprisonment of 6–12 months and immediate loan repayment
  • Only Filipino citizens eligible
Education
Finance
Loans
Philippines

REPUBLIC ACT No. 1491

An Act Amending Item Ninety, Group II, Paragraph "m," for the Province of Camarines Sur, Section Three of Republic Act Numbered Fourteen Hundred Eleven

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

Section 1

Item ninety, group II, paragraph "m," for the Province of Camarines Sur, section three of Republic Act Numbered Fourteen hundred eleven, is hereby amended to read as follows:

| "90. San Jose Home Economics Building, San JoseCompletion | ₱2,500.00." |

Section 2

This Act shall take effect upon its approval.

Approved: June 16, 1956.

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.