Republic Act No. 89

An Act to Amend Section Four of Commonwealth Act Numbered Five Hundred and Sixty-Five by Withdrawing the Exemption Granted in Favor of Co-Operative Associations Referred to Therein from the Payment of Taxes

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1. Section four of Commonwealth Act Numbered Five hundred and sixty-five is hereby amended to read as follows:

"Sec. 4. The provisions of the Corporation Law and of existing laws regulating agricultural or other co-operative associations, as are not inconsistent with the provisions of this Act, shall apply to the co-operative associations herein authorized."

Section 2. This Act shall take effect upon its approval.