Penalty on Past Due Rural Bank Loans

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BSP CIRCULAR NO. 1255: Penalty on Past Due Rural Bank Loans

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Title Supreme Court: Penalty on Past Due Rural Bank Loans

Law: Bsp Circular No. 1255

Decision Date: Oct 12, 1990

Rural banks are authorized to impose reasonable penalties on borrowers for past due loans due to inexcusable neglect, excluding cases of natural calamities, grave illness, or other emergencies beyond the borrower's control.

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past due

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