An Act Prohibiting Manufacture, Possession, And Sale Of Dynamite And Other Explosives Without A Special Permit, Providing A Penalty Therefore, And For Other Purposes.

Acts

Act No. 2243

ACT No. 2243

AN ACT TO PROVIDE FOR THE RECORD OF MORTGAGES OR TRUST DEEDS ISSUED BY PUBLIC SERVICE CORPORATIONS TO SECURE BONDS, AND FOR OTHER PURPOSES.

By authority of the United States, be it enacted by the Philippine Legislature, that:

Section 1. Mortgages executed by railway companies, tramway companies, street-car companies, sugar-central companies and other corporations owning and operating railroads or tramways, as well as all public service corporations, for the purpose of securing the bonds of such corporations on the property of such corporations, shall become liens on all the property real, personal or mixed of such corporations described in such mortgages and according to the terms thereof, including property thereafter acquired when by the terms of such mortgages the same shall be made to apply thereto, at and from the time the said mortgages shall have been filed with the division of archives, patents, copyrights, and trade-marks of the Executive Bureau,¹ which said liens shall be prior to and take precedence of any and all mortgages, liens and encumbrances which...