Postal savings

Bibliographic data

Monograph

Identifikator:: 869930397

URN:: urn:nbn:de:zbw-retromon-49420

Document type:: Monograph

Author:: Kemmerer, Edwin Walter http://d-nb.info/gnd/101827717

Title:: Postal savings

Place of publication:: London

Publisher:: Humphrey Milford

Year of publication:: 1917

Scope:: 1 Online-Ressource (VIII, 176 Seiten)

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Appendix B

Collection:: Economics Books

APPENDIX B 165 same manner as other property in accordance with the provisions of existing law. Sec. 17. (a) No postal savings bank deposit shall be subject to taxation by the Insular Gov ernment, or any provincial or municipal govern ment in the Philippine Islands. (6) The deposit book of a depositor in the Postal Savings Bank shall not be a proper se curity for a loan, debt, or obligation of any kind, and no such claim of any person, firm, or corpor ation holding a deposit book of the Postal Sav ings Bank shall be recognized as a valid claim against a depositor’s account. (e) Deposits in the Postal Savings Bank which bear interest in accordance with the pro visions of section ten of this Act shall not be liable to attachment for debt: Provided, That amounts to the credit of any depositor in excess of the limit upon which interest is payable shall be attachable the same as deposits in other bank ing institutions. Sec. 18. (a) The investment of the funds of the Postal Savings Bank shall be in charge of a board to be known as the postal savings bank investment board, which shall be composed of the Secretary of Commerce and Police, the Sec retary of Finance and Justice, the Director of Posts, the Insular Treasurer, and a business man to be appointed by the Governor-General, who shall serve without compensation. It shall be the duty of the postal savings bank investment board to invest the funds of the Postal Savings Bank as hereinafter provided, taking sufficient and proper security for investments made, and to perform such other duties as the proper in vestment and administration of the funds of the Postal Savings Bank shall require. (6) The funds received upon deposit by the Postal Savings Bank shall be invested in any or Deposits ex empt from taxation. Deposits not attachable for debt. The postal sav ings bank in- vestment board. Investments eligible for postal savings bank funds.

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