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[ Act No. 2650, February 24, 1916 ]

AN ACT AUTHORIZING THE INVESTMENT OF THE IMMUNIZED CATTLE INSURANCE FUND ESTABLISHED BY ACT NUMBERED TWENTY-FIVE HUNDRED AND FORTY-EIGHT.

By authority of the United States, be it enacted by the Philippine Legislature, that:

Section 1. The immunized cattle insurance fund established by Act Numbered Twenty-five hundred and forty-eight is hereby made available for investment by the Insular Treasurer, with the approval of the Governor-General, in such loans and securities as are authorized by existing laws for the investment of deposits in the Postal Savings Bank, or for the investment of the insurance fund, created by Act Numbered Seventeen hundred and twenty-eight, as amended: Provided, That the rates of interest on all loans made by authority of this section shall be fixed by the Governor-General.ℒαwρhi৷

Section 2. This Act shall take effect on its passage.

Enacted, February 24, 1916.

The Lawphil Project - Arellano Law Foundation

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