Republic Act No. 6044

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1

Section one of Republic Act Numbered Eighty-five, as amended by Republic Act Numbered Two thousand eighty-one, is further amended to read as follows:

"Section 1. Purposes, Name and Domicile.— To provide credit facilities for the rehabilitation and development and expansion of agriculture and industry, the reconstruction of property damaged by war and the broadening and diversification of the national economy, and to promote the establishment of private development banks in the provinces and cities, there is hereby created a body corporate to be known as the Development Bank of the Philippines, hereinafter called the Bank, which shall have its principal place of business in the Municipality of Makati, Province of Rizal, and shall exist for a period of fifty years."

Section 2

This Act shall take effect upon its approval.

Approved. August 4, 1969.