Amendments to Land Bank's Organizational Structure

The Board of Directors manages and directs the affairs of the Land Bank and safeguards its property.
The Board consists of seven members:
- Secretary of Finance as Chairman
- President of the Land Bank as Vice-Chairman
- Secretary of Agrarian Reform (ex officio member)
- Secretary of Labor (ex officio member)
- Three elected members preferably from preferred shareholders.
Annual stockholders’ meeting occurs on the first Tuesday after the first Monday of December for election of the three members.
Voting rights correspond to the number of shares registered as of October 31 preceding the election.
Number of elected members depends on outstanding preferred shares:
- Up to P50 million: one member
- Over P50 million to P100 million: two members
- Over P100 million: three members
The Board meets at least once every two weeks and may convene more frequently.
Quorum requires four members, and decisions require concurrence of at least four members.
Board members receive a per diem of P250 per session, capped at P2,000 monthly.

Government-owned shares in the Land Bank do not participate in income earnings such as cash or stock dividends.
Administrative expenses of the Bank are not considered government participation in income.
The Bank may declare earnings accumulated before issuance of preferred shares as stock dividends to the government or allocate them as contributed surplus.
The contributed surplus fund serves as a guarantee for dividends to preferred shareholders.
The Board of Directors determines the method of distributing surplus earnings.

All laws, decrees, executive orders, rules, regulations, or parts thereof inconsistent with the provisions of this decree are repealed or modified accordingly.