Republic Act No. 407

: Nilda E. Martinez is granted the franchise under Republic Act No. 407.
: The franchise is granted for a period of twenty-five years from the approval of the Act.
: The right, privilege, and authority to construct, maintain, and operate an electric light, heat and/or power system for generating and distributing electric light, heat and/or power for sale within the municipality of Masbate, Province of Masbate.
: The franchise is applicable within the limits of the municipality of Masbate, Province of Masbate.
: The grant is subject to the terms and conditions established in Act Numbered Thirty-six hundred and thirty-six as amended by Commonwealth Act Numbered One hundred and thirty-two and to the provisions of the Philippine Constitution.
: If the Government decides to maintain and operate the plant and enterprise, the grantee must surrender the franchise and turn over all serviceable equipment at cost to the Government.
: Yes, the grantee is authorized to generate and distribute electric light, heat, and/or power for sale within the municipality of Masbate.
: The Act took effect upon its approval on June 18, 1949.
: The text of the Act does not specify penalties for non-compliance.
: The Senate and House of Representatives of the Philippines in Congress assembled promulgated the Act.