Practice question
What behavior does RA 1405 Section 1 expressly seek to encourage?
- Keeping all money permanently outside banks.
- Public sale of account details.
- Depositing money in banking institutions.
- Replacing every loan with a donation.
- Publishing every balance daily.
Legal references
- RA1405, Section1, purpose of deposit secrecy: https://lawphil.net/statutes/repacts/ra1955/ra_1405_1955.html
- PD1246, preamble and Section2 amending RA6426Section8: https://lawphil.net/statutes/presdecs/pd1977/pd_1246_1977.html
Answer this question in flashcards to review your response and continue practicing.