Lending Company Regulation Act of 2007, Republic Act No. 9474 (Philippines)
The Act requires lending companies to be established as corporations, and shall only be able to conduct business upon the grant of an authority to operate by the Securities and Exchange Commission. It further provides for:
- The minimum paid-up capital of lending companies.
- The required voting capital stock reserved for Philippine citizens.
- The allowable amount and charges on loans.
- The obligation of lending companies to maintain books of accounts and records as required by the relevant government agencies.