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Section 94. Custody and investment of fund - Property Registration Decree (PD 1529)

Section 94. Custody and investment of fund of Property Registration Decree (PD 1529). Section 94. Custody and investment of fund. All money received by the Register of Deeds under the preceding section shall be paid to the National

  • Subjects 9 Bar syllabus groups
  • Codals 48 Primary legal sources

Property Registration Decree (PD 1529)

Section 94. Custody and investment of fund. All money received by the Register of Deeds under the preceding section shall be paid to the National Treasurer. He shall keep this money in an Assurance Fund which may be invested in the manner and form authorized by law, and shall report annually to the Commissioner of the Budget the condition and income thereof.

The income of the Assurance Fund shall be added to the principal until said fund amounts to five hundred thousand pesos, in which event the excess income from investments as well as from the collections of such fund shall be paid into the National Treasury to the account of the Assurance Fund.

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