Be it enacted by the Senate  and House  of Representatives of  the Philippines in Legislature  assembled and  by the  authority of the same:

SECTION 1. Section sixteen  hundred  and thirty of the Administrative Code is hereby amended  to read as follows:

   "SEC.  1630. Examinations  into  condition of institutions.—It shall be the duty of the Insular Treasurer, personally  or  by deputy, at least once in every twelve months, and at such other times as he may deem  expedient, to make an examination of the books of every institution within the purview of this article in order to ascertain  its  cash and available assets in the Philippine Islands, and its general condition and method of doing business,  and to make report of the same to the Secretary of Finance, who will transmit a copy of the said report to the Governor-General.

"Every such institution shall afford to the Insular Treasurer, and  to his authorized deputy,  full opportunity to examine its books, its cash, its  available  assets, and general condition,  at any time  when  requested so to do by the Treasurer:  Provided,  however, That  none of the reports and  other  papers relative to the examination of banking institutions shall be open to inspection by the public except in so far as such publicity shall be incidental to the proceedings hereinafter authorized or necessary  for the prosecution of violations in connection with the business of the bank.

"For the inspection or examination herein prescribed, the Insular Treasurer shall charge and collect fees in accordance with the total  assets of each  of the banks or institutions inspected or  examined, exclusive, in the  case of the central offices of such  banks or institutions, of  the total  assets of their agencies or branches; and, in the case of their agencies or branches, exclusive  of the total  assets of their central offices, as follows:

"Less  than fifty thousand pesos, twenty-five pesos.

"Fifty thousand pesos or more, but less than one hundred thousand pesos, forty-five pesos.

"One  hundred thousand pesos or more, but less than two hundred thousand pesos,  seventy-five pesos.

"Two hundred thousand pesos or more, but less than five hundred thousand pesos,  one hundred and twenty pesos.

"Five  hundred thousand pesos or more, but less than one million pesos, one hundred and fifty pesos.

"One million pesos or more, but less than two million pesos, one hundred  and eighty pesos.

"Two  million pesos or more,  but less than five million pesos, two hundred and  twenty-five pesos.

"Five million pesos or more, three hundred and twenty- five pesos:

"Provided, That if the inspection or examination is made outside the City of Manila, the Insular  Treasurer shall  require the bank or institution examined or  inspected to pay traveling and subsistence expenses in addition to the charges herein prescribed: Provided, further,  That such traveling expenses shall  not exceed twenty centavos per kilometer, computed from the City of Manila to the port where the branch of the bank or institution to be examined is located."

SEC. 2. Section sixteen hundred and thirty-eight of the Administrative Code of nineteen hundred and seventeen is hereby amended to read as follows:

"SEC.  1638.  Annual re-port to  Insular Treasurer.—Such societies  or associations shall annually, within the first ten days of January, make a full report to the Insular Treasurer of their  financial condition and a complete itemized statement of all their receipts and disbursements, including the name and address of the person from whom received and the name and  address of  the person to whom disbursed: Provided, That at the request of any authorized officer  of such societies or associations, the Treasurer may grant an extension of time not to exceed two months within which such report and statement shall be submitted to him."

SEC. 3. Section sixteen  hundred and thirty-nine of the Administrative Code is hereby amended to read as follows:

  "SEC.  1639. Examination by Insular Treasurer into financial condition of society.—Once every two years, and whenever he  deems it proper or necessary,  the said  Insular Treasurer either by  himself  or  his duly authorized representative must  make  a careful examination into the financial  affairs of such  society  or association,  verify the resources and moneys on hand,  check  up the expenditures and ascertain its ability to meet its liabilities and fulfill the obligations entailed  upon  it by  its constitution,  by-law's, rules, or  regulations: Provided, That the Insular Treasurer shall charge thirty pesos for each examination of such  association or society if the assets  thereof are in excess  of five thousand pesos."

SEC. 4. Section  sixteen hundred  and  forty-one  of the Administrative Code of nineteen hundred and seventeen is hereby amended to read as follows:

"SEC. 1641. Publicity of information obtained in investigation.—The information obtained by the Insular Treasurer or the Attorney-General, or the deputy of  either,  in the exercise and performance of their powers and duties in connection with the inspection assigned to said officers by this article, shall be deemed public records  and shall be open to inspection by the public during  office  hours, and certified copies of said records may be made for such purposes  as the party concerned may contemplate."

SEC. 5. Section twenty-seven hundred and forty-three  of the Administrative Code of nineteen hundred and seventeen is hereby amended to  read as follows:

  "SEC. 2743. Refusal to make  report or permit examination.—Any owner, agent, manager, or other officer in charge of any institution within  the purview of article  eight  of chapter forty-one  of this  Code who,  being thereunto  required by the Insular Treasurer in writing, shall, contrary to the provisions of said article, willfully refuse to file the required  report or permit any lawful examination into the affairs of such  institution shall be punished by a fine of not more than ten  thousand pesos or by imprisonment for not more than one  year,  or both.

"Any agent, officer, or other person in charge of any society or association within the purview of article nine  of chapter forty-one  of this  Code  who,  being  thereunto required by the Insular Treasurer in writing, shall contrary to the provision of said article,  willfully  refuse to file the required initial or annual report or permit any lawful examination  into the affairs of such society or association, shall be punished by a fine of not more than five hundred pesos or by imprisonment for not more than six months,  or both." 

SEC. 6.  This Act shall take effect on its approval.

Approved,  December 6, 1924.