Rural Banks' Creation and Operation Act

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Republic Act No. 720: Rural Banks' Creation and Operation Act

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Title Source: Supreme Court: Rural Banks' Creation and Operation Act

Law: Republic Act No. 720

Decision Date: Jun 6, 1952

The Rural Banks' Act, enacted in 1952, aims to promote and expand the rural economy in an orderly and effective manner by allowing the establishment of rural banks, providing credit facilities to small farmers, cooperatives, and small merchants, and granting certain exemptions and privileges, while violations of the law are subject to penalties.

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