Practice question
What does amended Section 7(a)(2) state for the improvement-and-structure component?
- No improvements are included.
- One hundred percent of replacement cost, taking depreciation into consideration.
- A universal fifteen percent of all improvement costs.
- Every new replacement price without considering the enacted depreciation language.
- Only a private arbitrary figure.
Legal references
- RA 12289, Sections 3 and 7-8, amending RA 10752 coverage and its renumbered Sections 7-8 on possession and valuation: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/99855
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