RESOLVED, to APPROVE the proposed amendments to PPG No. 152-99 dated 9 June 1999 covering the entire GSIS Cash Receipt System.

RESOLVED FURTHER, that PPG No. 152-99 covering the entire GSIS Cash Receipts System, be, as it is hereby AMENDED in part with respect to the handling of dishonored checks, as follows:

1. update and improve the guidelines and procedures in the handling and replacement of dishonored checks to reflect the new organizational structure and delineation of functions;
2. provide for the conversion of payment covered by dishonored checks into a receivable from the remitting agency;
3. provide for a period of redemption and redeposit for payees with dishonored checks;
4. amend the sanctions to Payors with dishonored checks; and
5. include a provision to handle payment of Social Insurance accounts which are paid thru personal checks which are dishonored (Presently, personal checks are not accepted for payment of Social Insurance accounts).

A copy of the proposed PPG^* on the handling of dishonored checks is hereto attached and made integral part hereof.

Adopted: 18 Nov. 2009 (Board Meeting No. 21)

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^* Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City